August 7, 2026

By Nigam Arora

To gain an edge, this is what you need to know today.

Shocking Jobs Report

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows buying in the early trade in the stock market.
• The chart shows the stock market continues to levitate above zone 1 (support) after a technical breakout.
• This morning’s early stock buying is triggered by the following:
  • Jobs report shocker
  • Iran hopium
  • Stabilization in South Korea
• The jobs report is a shocker as the economy lost jobs.