8/10/26 Recap

The SPY continues to flag as the moving averages catch up, we have a big inflation print this week that will give us our next direction but generally this is a bullish flag right here and that just means consolidation before the next leg up. A yellow flag that could cause issues would be oil up nicely today back to 81 with lots of oil names looking like they want to breakout. Again we were told there was a deal with Iran last tuesday and still nothing, if we cannot get a deal and oil really catches a serious bid, the market will not like that at all. I’m always optimistic we can figure things out but objectively, it doesn’t seem like we’re in control of the situation at the moment. On any pullback the 21 ema at 754.75 right now is your uptrend barometer, above that you don’t have anything to worry about.

Scanner

Here are the top large cap scans from the database today. The rest of today’s scans for small and midcaps along with all the moving average crossovers can be found under the scanner tab in the database.

My Open Book

Trades I Made Today