BullishSunday, August 9, 2026
Conviction
Momentum holds above key support — watching for a breakout week
SPY held the 50-day all week on light volume. Leaning bullish as long as that level holds.
Bias
Bullish
Catalysts
3
Watching
3 tickers
Key levels
SymbolSupportResistance
SPY50-day MARecent swing high
QQQ21-day MAAll-time high
Catalysts this week
- ▸CPI print Wednesday — market expecting an in-line read
- ▸Big-cap retail earnings midweek
- ▸Fed speakers Thursday and Friday
Risk factors
- ▸A hot CPI print could spike yields fast
- ▸August volume is thin — moves can be exaggerated
Sectors in focus
▲Semiconductors— Leading the tape again●Regional banks— Coiling near resistance▼Utilities— Money rotating out
Stocks to watch
▲NVDANew highs on volume, leadership intact
▼AAPLStuck below the 200-day, avoid for now
●AMDCoiling near breakout point
This week's trade idea
Stay long current momentum names, add on a pullback that holds the 50-day. Trim if SPY closes below it.
Bottom line
Bullish while SPY holds the 50-day. Confirmed break below flips this to defense.