2026-07-07
SPY fell 0.5% to $748 as the bounce off the 50-day MA lacked long green candles. Buyers were interested but not aggressive, and the market looked set for a holding pattern until earnings season.
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Daily Market Analysis
July 2026
SPY was unchanged, 0.0%, at $747 after a month trapped in a horizontal range between $720 and $760. Buyers and sellers stayed in balance, the 50-day moving average lost its relevance, and strong AI earnings from ASML and others failed to spark a breakout. Mega-cap tech earnings brought a 1.5% drop on July 29 and a 1.7% rebound on July 30.
A complete intraday market analysis for each day is listed below.
2026-07-08
SPY fell 0.3% to $745 as the market stayed trapped in a horizontal range while searching for a catalyst. Swing trading was avoided, with the sidelines favored until earnings season peaks.
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2026-07-09
SPY rose 0.8% to $752 as the market stayed stuck in a horizontal range with a wedge forming. Programs dominated, normally 60% of activity and near 75% now, making selectivity essential.
2
2026-07-10
SPY rose 0.4% to $755 after a Thursday move through the downward trendline of a wedge. A month of data and light volume meant little weight, and a breakout above the all-time high was still needed.
2
2026-07-13
SPY fell 0.8% to $749 as buyers and sellers stayed in equilibrium and either side could take control on any day. Traders were urged to keep trades short term ahead of CPI, PPI and bank earnings.
2
2026-07-14
SPY rose 0.4% to $752 as JPM, WFC, C and GS posted strong earnings and CPI came in lighter than expected. IBM fell 20% pre-open on a warning, favoring AI infrastructure plays over software.
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2026-07-15
SPY rose 0.4% to $755 as financial stocks neared all-time highs and PPI followed a lighter CPI. ASML and AEHR posted strong results, and the new Fed Chairman said economic growth is strong.
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2026-07-16
SPY fell 0.5% to $751 as chip and hardware stocks fell despite strong earnings from ASML, AEHR and TSM. Backlogs kept rising, but stocks priced for perfection left little room for a hiccup in demand.
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2026-07-17
SPY fell 1.0% to $743 as the market stayed trapped in a horizontal range. Mixed overlapping candles signaled no direction, so traders were urged to trim size and trade count and wait for a catalyst.
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2026-07-20
SPY fell 0.2% to $742 in a coiled, low probability market. The best case for the second half was a decline to the 200-day MA in September that would flush out speculators and set up a year end rally.
2
2026-07-21
SPY rose 0.8% to $748 as the market stayed within striking distance of the all-time high. The drift lower felt worse than it was, but a close below the 50-day MA showed waning momentum.
2
2026-07-22
SPY fell 0.1% to $747 as the 50-day MA ran through a trading range between SPY $720 and $760. Mixed candles showed neither side in control, and buy and sell programs drove the action.
2
2026-07-23
SPY fell 1.2% to $738 as the S&P 500 traded below the 50-day MA after mega cap tech earnings. Capex was biting into profits, and an overnight breakdown breached a wedge trendline.
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2026-07-24
SPY rose 0.1% to $739 after TSLA and GOOG drew negative earnings reactions and the market dropped below support. Investors disliked AI capex spending, and August and September are seasonally weak.
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2026-07-27
SPY was flat at 0.0% and closed at $739 as the US paused attacks on Iran and oil retreated. Selling pressure, capex worries, high valuations and possible share offerings kept sentiment cautious.
2
2026-07-28
SPY rose 0.2% to $741 as solid economic conditions pointed to strong earnings. META, MSFT, AMZN and AAPL were due to report, with AI capex continuing and fewer share buybacks expected.
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2026-07-29
SPY fell 1.5% to $729 on Fed day as rotation out of tech continued. STX posted excellent earnings but rich valuation limited the bounce, and few buyback announcements were expected.
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2026-07-30
SPY rose 1.7% to $742 as Q2 GDP grew 1.5%, well below the 2.1% projected. 10-Year Treasuries sold off to a 52-week low and the 50-day MA turned lower for the first time since April.
2
2026-07-31
SPY rose 0.7% to $747 after AMZN and AAPL earnings. The S&P 500 rallied back to the 50-day MA, and a failure to close above it within a week could bring a pullback.
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