EB Daily Market Report - Friday, August 13, 2026

Dear Members:

Another record high for the S&P as the bulls build on recent momentum as we get ready to close out another trading week.

This record high comes with a high level of confidence with the $VIX moving to its lowest level since January of this year. And it comes even with semiconductor stocks still struggling though off their recent lows.

Perhaps the next goal for the bulls would be the NASDAQ reaching its all-time high. It's not far-fetched; it would need to rise just over 1% to get to that all time high of 27,190. Clearing that level could be an even bigger boost for the bulls.

In looking at the major indexes, the S&P is getting close to being technically overbought as its RSI approaches 70. But there's still plenty of room to run on the tech side as well as the blue chips before traders have to worry about being overbought.

Bottomline is the bulls currently have command of the market as they start setting their sights on 8000 on the S&P. Of course, we could see profit taking at any time but no signs of that at the moment.

Tom will be back with his Weekly Market Report on Monday.

At your service,

John Hopkins