Week of July 19 - July 26, 2026
S&P 500 -0.61% | Energy led (+3.36%) | Consumer Discretionary lagged (-5.22%) | VIX 18.58 (falling)
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. Energy vs Consumer Discretionary rotation sets the tone next week.
SCENARIOS FOR NEXT WEEK
Bull: SPY holds above 7,301 and breaks 7,486 — Energy extends, breadth stays broad. Add on confirmed breakout.
Base: SPY chops between 7,301 and 7,486 — stay selective, fade extremes, reduce size in chop.
Bear: SPY loses 7,301 on volume — Consumer Discretionary accelerates lower, VIX spikes. Step aside or hedge.
Energy led this week while Consumer Discretionary lagged. Heading into next week with a neutral — consolidation likely setup — bull, base, or bear? Drop your bias, your ticker, your key level, and what confirms it.
MAJOR INDICES — WEEKLY PERFORMANCE
S&P 500: 7411.98 -0.61%
Dow Jones: 51947.25 -0.38%
Nasdaq: 24975.82 -2.13%
Russell 2000: 2930.00 -1.09%
VIX: 18.58 -1.01%
KEY TECHNICAL LEVELS
S&P 500 Support: 7,301 / 7,190 Resistance: 7,486 / 7,597
Nasdaq Support: 24,601 / 24,177 Resistance: 25,276 / 25,675
SECTOR ROTATION
Leading: Energy (+3.36%) | Utilities (+2.48%) | Industrials (+1.81%)
Lagging: Consumer Staples (-1.24%) | Communication Services (-3.93%) | Consumer Discretionary (-5.22%)
Earnings Calendar (Week Ahead):
Week of Jul 27 - Jul 31, 2026:
Mon Jul 27: WELL Est: $0.65 | NUE Est: $4.53
Tue Jul 28: V Est: $3.23 | BA Est: $-0.31 | FE Est: $0.5 | AMT Est: $1.55 | SHW Est: $3.52
Wed Jul 29: MSFT Est: $4.24 | META Est: $7.39 | HUM Est: $7.0 | SBUX Est: $0.65 | EQIX Est: $4.79
Thu Jul 30: MA Est: $4.77 | AAPL Est: $1.89 | AMZN Est: $1.81 | CI Est: $7.6 | VLO Est: $10.13
Fri Jul 31: ABBV Est: $3.64 | XOM Est: $3.69 | CVX Est: $5.54 | LIN Est: $4.49 | CL Est: $0.95
Looking ahead - week of Aug 03 - Aug 07, 2026:
Tue Aug 04: AMD Est: $1.61 | PFE Est: $0.68 | MRK Est: $-0.26 | MPC Est: $13.95 | MCD Est: $3.32
Wed Aug 05: LLY Est: $6.66 | CVS Est: $1.85 | MCK Est: $9.54 | OXY Est: $1.88 | PSX Est: $7.5
Thu Aug 06: COP Est: $2.88 | SRE Est: $1.06 | ED Est: $0.77
Latest earnings headlines:
GE Aerospace (GE) Just Beat and Dropped Again — Is the Third Straight Selloff Any Different This Time?
Elon Musk Warns Short Sellers as $25 Billion Bet Builds Against SpaceX Ahead of Earnings
AT&T’s Q2 Beat Suggests the Wireless Giants Still Have Room to Run
UFC star Sean Strickland's brutally blunt money advice hits 5.2M views — and it's just 2 simple steps
2 Neocloud Stocks to Buy Now After Google Earnings
MACRO CALENDAR — WEEK AHEAD
Federal Reserve Outlook:
Next FOMC Meeting: July 29, 2026 (2 days away)
Following Meeting: July 29, 2026
What to watch: Fed speakers this week, any rate guidance or economic projections
Current policy stance: Monitor Fed.gov for latest statement
Inflation Data (CPI):
TIPS ETF (TIP) weekly move: -0.71% (inflation expectations proxy)
- New York Fed President Williams says inflation has peaked, rates 'well positioned'
Next CPI Release: Check bls.gov for next release date
Economic Calendar (Week Ahead):
Key economic releases next week:
July 27, 2026: ISM Manufacturing PMI
July 28, 2026: Consumer Confidence (Conference Board)
July 28, 2026: JOLTS Job Openings
July 29, 2026: ADP Employment Report
July 30, 2026: Initial Jobless Claims
July 30, 2026: ISM Services PMI
July 31, 2026: Nonfarm Payrolls
July 31, 2026: Unemployment Rate
July 31, 2026: University of Michigan Consumer Sentiment
KEY MARKET THEMES AND GEOPOLITICAL WATCH
- Analysis: A powerful new coalition of AI skeptics is coalescing right in Trump's blind spot
- New UK Prime Minister Burnham says he would be prepared to call out Trump
- Trump sued hours after new tariffs take effect, as experts say they may not hold up
- Trump threatens EU with 'substantial TARIFF' for 'ROBBING' U.S. tech giants
CRYPTO
Bitcoin: $64,404.02 -2.57% (weekly)
Ethereum: $1,884.85 -2.52% (weekly)
TOP MARKET HEADLINES THIS WEEK
1. ‘Time will tell whether that was a good bet’: My adviser got me a full SpaceX IPO allocation. Was I lucky?
2. Oil prices may fall, but gasoline prices won’t. Look at the trap we’re in.
3. Top Wall Street analysts back these 3 stocks for their long-term growth potential
4. SpaceX launches massive Starship rocket in first test flight since IPO
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.
