EB Daily Market Report - Friday, August 21, 2026

Dear Members.

First, a reminder that Tom will conduct a webinar tomorrow morning, "Four Critical Market Signals, One Verdict," which you are all invited to attend. You will receive room instructions prior to the event. Also, as usual, the webinar will be recorded in case you are unable to attend the live session.

There's been some relief today following recent selling with all major indexes higher as we wrap up another trading week.

The move higher today has occurred despite rising yields and stubbornly high oil prices and as monthly options expire at today's close.

If traders are nervous it's not wholly evident; the $VIX is still on the lower end of where it has been throughout the year. In fact, the S&P is lower by just over 1.5% from its recent all time high; traders are still attracted to stocks in spite of higher bond yields.

We're definitely seeing more headlines suggesting a more substantial correction is near. That may prove to be the case. But right now there's no evidence that a doomsday scenario is about to unfold. If we see signs that become more ominous we'll let everyone know.

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

At your service,

John Hopkins