7/8/25 Recap

The SPY is coming into the 8 ema today, we discussed this on the weekend about how we were the most extended on a weekly basis as we’ve seen in 7 years. A small period of sideways/down is perfectly normal after the run we’ve had. We have yet to close below the 21 ema since April which is just textbook bull market and that is now up under 610. Look at the 50 day(yellow) continuing to rise through that 200 day(green) after the golden cross last week. There really isn’t a bear case at this moment from a technical perspective just a necessary cooling period where the moving averages can catch up. Things look ok now, but Donald Trump just walked out on stage to speak. We all know how much he can move markets with his speeches.

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