08/23/2026
The Weekly Report
S&P 500 -1.43% | Health Care led (+4.33%) | Information Technology lagged (-3.53%) | VIX 15.13 (rising)
NEXT-WEEK BIAS: NEUTRAL — CONSOLIDATION LIKELY
No edge either direction yet — no confirmed breakout or breakdown. Favor names holding above their 50-day, skip the chase. Health Care vs Information Technology rotation sets the tone next week.
SCENARIOS FOR NEXT WEEK
Bull: SPY holds above 7,559 and breaks 7,751 — Health Care extends, breadth stays broad. Add on confirmed breakout.
Base: SPY chops between 7,559 and 7,751 — stay selective, fade extremes, reduce size in chop.
Bear: SPY loses 7,559 on volume — Information Technology accelerates lower, VIX spikes. Step aside or hedge.
MAJOR INDICES — WEEKLY PERFORMANCE
S&P 500: 7674.37 -1.43%
Dow Jones: 53277.01 -0.85%
Nasdaq: 26180.46 -2.05%
Russell 2000: 3017.87 -1.65%
VIX: 15.13 +6.18%
KEY TECHNICAL LEVELS
S&P 500 Support: 7,559 / 7,444 Resistance: 7,751 / 7,866
Nasdaq Support: 25,788 / 25,343 Resistance: 26,495 / 26,914
SECTOR ROTATION
Leading: Health Care (+4.33%) | Energy (+2.79%) | Materials (+1.90%)
Lagging: Industrials (-3.36%) | Utilities (-3.48%) | Information Technology (-3.53%)
Earnings Calendar (Week Ahead):
Week of Aug 24 - Aug 28, 2026:
Wed Aug 26: NVDA Est: $2.09
Looking ahead - week of Aug 31 - Sep 04, 2026:
Wed Sep 02: AVGO Est: $3.24
Thu Sep 03: CPB Est: $0.39
Latest earnings headlines:
Intuitive Machines Misses Big on Earnings. Stifel Upgrades It Anyway
Inflation Data (CPI):
TIPS ETF (TIP) weekly move: +0.13% (inflation expectations proxy)
- Fed officials saw need for rate hike if inflation doesn't cool, minutes show
Next CPI Release: Check [bls.gov](https://bls.gov) for next release date
Economic Calendar (Week Ahead):
Key economic releases next week:
August 24, 2026: ISM Manufacturing PMI
August 25, 2026: Consumer Confidence (Conference Board)
August 25, 2026: JOLTS Job Openings
August 26, 2026: ADP Employment Report
August 27, 2026: Initial Jobless Claims
August 27, 2026: ISM Services PMI
August 28, 2026: Nonfarm Payrolls
August 28, 2026: Unemployment Rate
August 28, 2026: University of Michigan Consumer Sentiment
KEY MARKET THEMES AND GEOPOLITICAL WATCH
- Canada announces retaliatory tariffs on U.S. goods after trade talks break down
- Trump reshuffled his portfolio in June, selling names like Meta and buying Berkshire Hathaway
- As U.S.-Canada trade talks collapse, Carney says retaliatory tariffs will start Sept. 8
- Ahead of tough new U.S. sanctions, Iran criticizes 'extraterritorial sovereignty'
CRYPTO
Bitcoin: $77,203.79 +11.46% (weekly)
Ethereum: $2,426.69 +7.78% (weekly)
SELF-AUDIT FOR THE WEEK
Before planning next week, ask yourself three questions:
1. What trade did you take that matched your plan? What made it work?
2. What trade did you take that broke your rules? What triggered the deviation?
3. What is the one thing you will do differently next week?
Review your trades from this week before planning next week.
Respect your pre-defined risk per trade. No revenge trading.
Let levels prove themselves. Wait for confirmation.
Size according to volatility, not emotion.
