2026-08-06 · Records Up, Financials Distributing
The index barely moved but every leading signal turned bearish together, with distribution concentrated in financials, health care, and technology.
The Signal
The Dow snapped a five-day streak of record closes, its worst session in weeks, while the S&P and Nasdaq only drifted a touch off their own highs, as Treasury yields rose and oil rallied on hopes for a deal easing tension around the Strait of Hormuz. The volatility index stayed pinned near its calmest level of the year, so there is essentially no fear priced into the pullback. Underneath, confirmed reversal signals ran eight bearish to…
The skinny
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