Daily Morning Brief; July 30, 2026
Market Overview
The SPY is going for its 6th straight close below the 21 EMA and that’s not a look you want to see. Yesterday’s dump down to 729 was ugly, but we did buy it back today and are pressing right up against the 8 EMA at 739.31. That 8 and 21 are converging with a bearish spread, so bulls need to reclaim 742 to change the story. Until we get closes back above the 21, this stays a downtrend and rallies are suspect. The 50 day at 743.85 is the bigger wall sitting overhead.
