Day-Trading Scenarios for Aug 5, 2026

Earnings keep beating analyst expectations. I do expect us to top out next week, so enjoy the easy money on the buy side while it lasts.

Previous day (Tuesday, August 4, 2026) recap: The cash Dow Jones Industrial Average closed at a fresh all-time high of 54,085.88, up 907.47 points (+1.71%). The S&P 500 rose ~1.79% to a record close and the Nasdaq Composite gained ~2.6%.

YM (E-mini Dow) September 2026 (YMU26 / YM=F) tracked the strength. Prior settlement/previous close around 54,268; the session saw strong gains in line with the cash index. Overnight into the morning of August 5, the contract was trading higher (around 54,528–54,531, up ~+260 / +0.48% as of early morning EDT quotes). Day’s range so far roughly 54,357–54,541.

Drivers of the August 4 rally: Strong corporate earnings (notably tech/AI names like Palantir, semiconductors, and industrials such as Caterpillar) plus improved sentiment around efforts to reopen the Strait of Hormuz / de-escalate Middle East tensions. Oil prices declined, which supported equity valuations. The advance was broad but tech-led.

As usual, we look for pullback areas to go long. First support is 54410, then 54185.

MBA Mortgage Applications

 7:00 AM ET

ADP Employment Report

 8:15 AM ET

Treasury Refunding Announcement

 8:30 AM ET

PMI Composite Final

 9:45 AM ET

ISM Services Index

 10:00 AM ET

EIA Petroleum Status Report

 10:30 AM ET

Treasury Buyback Announcement (Preliminary)

 11:00 AM ET

3-Yr Note Announcement

 11:00 AM ET

10-Yr Note Announcement

 11:00 AM ET

30-Yr Bond Announcement

 11:00 AM ET

4-Month Bill Auction

 11:30 AM ET

Lisa Cook Speaks

 4:05 PM ET

<<<<<<<<<<<<<<<<<<<<<<<<<<<

DATE: 8/5/2026

TIME: 9:18 AM

HIGH: 54423

LOW: 53267

CLOSE: 54268

PIVOT: 53986

SUPPORT: 54185

RESISTANCE: 54765

SWING MAGNITUDE: 251

TIME OF COMMENT: 9:18 AM

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