8/18/26 Recap

The SPY broke down below the 8 ema today losing that for the first time in nearly 3 weeks. Now we have the 21 ema just below and if we lose that we might have serious issues this time around. We have our 30 year rates at the highest they’ve been in 2 decades, the intervention in Japan we recently participated in did not work, and the situation in Iran is just getting worse by the day with the UAE defense ministry just posting minutes ago that Iran just shot rockets at them. If you sold everything and went to cash for a little while, you probably wouldn’t miss too much. We have had an incredible run and there are just too many question marks right here. I do think ultimately we find a way to prop this market up into midterms in November but the amount of issues unfolding all at once in a sane world would cause a sell off here. If we lose that 21 ema just over 760 now, I really do think it may be time to take alot off if you’ve had a great year.

Scanner

Here are today’s large cap scans, the rest of the small and mid cap scans can be found in the database along all the other moving average crossovers. Here we go again with the same theme we’ve been seeing for the last week, 5 of the top 8 are energy names: APA,VLO, CNQ, OVV, and PSX. That sector just looks ripe for a move now and that means the Iran situation would likely have caused a spike in oil prices which would have likely caused market weakness.

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