Morning Market Note - 8/13/26

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"Genius sees the answer before the question." - J.

"Genius sees the answer before the question." - J. Robert Oppenheimer

After surging nearly 6% from July 29th through August 4th (last Tuesday), the S&P 500 (SPY) has flat-lined since:

As shown below, key US index ETFs remain in overbought territory even with the S&P’s sideways action:

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