8/7/26 Recap

The SPY is flagging here at all time highs as the moving averages catch up. We’re at the weekend again which means the war ramps this afternoon and we make peace by sunday futures open. We were told by Bessent that we would have a deal 2 days ago and that hasn’t materialized yet so who knows what is happening there, the market really doesn’t seem to care anymore but if anything goes wrong and oil spikes, the market will very much care. For now all we can do is look at these moving averages and as long as we’re trending over the key short term ones, things are fine. We’re mostly done with earnings season with only NVDA left in a couple weeks and now we’re in that slow period after earnings where there really isn’t much news until next month’s fed meeting.

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Here are the large caps from today’s scan in the database, again these are just charts with momentum, nothing else. What you do with these is look through their flow, look where puts are sold, follow those. Look where calls are bought and build trade ideas around those levels. These aren’t meant as anything more than just highlighting a few nice charts that fit my criteria of momentum.

My Open Book

Trades I Made Today