8/17/26 Recap

The SPY is just drifting along over the 8 ema in a nice uptrend. We got another extension today on the Iran situation and we have NVDA earnings coming up in 6 sessions which will be our next big catalyst. The only point of caution here would be the fact that oil looks great and continues to stay green. To this point Bessent has been able to keep oil in check miraculously but how long can he do it for without a deal and Hormuz closed for traffic, I don’t know. If oil were to catch a bid, the market would not be happy and the charts all say it is coming.

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Here are all the large caps that came up in my momentum scan, the rest of the scans are all available in the database below

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