WEEKLY STOCK MARKET DIGEST: WHAT PRUDENT INVESTORS NEED TO KNOW NOW

August 9, 2026

By Nigam Arora & Dr. Natasha Arora

Weekly Digest from The Arora Report is popular among serious investors and money managers because they have found studying insights from the prior week gives them an edge over the coming weeks. Here is the day by day rundown from the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers of The Arora Report.

Please scroll down for the section ‘Protection Bands and What To Do Now.’

AGGRESSIVE STOCK BUYING ON JOBS REPORT SHOCKER AND IRAN HOPIUM; CHINESE BUY GOLD

Aug 7, 2026

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. Here are the details:
- Headlines nonfarm payrolls came at -23K vs 86K consensus.
- Private nonfarm payrolls came at 30K vs 69K consensus.
- Average hourly came at 0.1% vs 0.3% consensus.
- Unemployment came at 4.1% vs 4.2% consensus.
- Average work week came at 34.3 vs. 34.3 consensus.
Of particular interest is that hourly wages rose by only 0.1%. White collar wages have been pressured downwards by AI. At this time, it is not clear what is driving down hourly wage growth.
The reason the stock market is celebrating the loss of jobs is the belief that this job number will prevent the Fed from raising rates.
In The Arora Report analysis, prudent investors should have a broader perspective than just this jobs report. Inflation pressures are not only due to the Iran war but also due to demand that has been generated by massive capital spending on AI.
Both the U.S. and Iran are sending positive signals that the end of the war is near. Iran hopium is bringing in buying in the stock market.
Prudent investors should pay attention to the information that is coming out — it is concerning for investors in the long term. Iran and Oman are close to a deal in which traffic will flow one way close to Iran’s coast and the other way close to Oman’s coast. Apparently Iran will have the right to charge voluntary fees. Voluntary fees are oxymoronic but appear to be designed to appease President Trump, who does not want Iran to charge any fees.
There are also reports that Iran wants to ban U.S. and Israeli ships from entering the Strait of Hormuz.
In The Arora Report analysis, if the reports about the deal from Iran are correct, in spite of the U.S. declaring victory, the U.S. would be handing de facto control of the Strait of Hormuz to Iran. This will likely be negative for the stock market in the long term, but in the short term, the stock market will likely rally on any headline of a deal.
The stock market in South Korea has stabilized. Lately, the U.S. stock market, especially semiconductor stocks, have been following the South Korean stock market. Stabilization in South Korea is bringing buying into U.S. semiconductor stocks, especially in memory stocks MU, SKHY, and SNDK as well as in disk drive stocks WDC and STX.
Also adding to the positive sentiment is that yesterday SpaceX (SPCX) stock closed up over 6% instead of falling out of bed on the lockup expiration as confidently predicted by the media. As a member of The Arora Report, you have been ahead of the curve with our contrary spot on call. We wrote on July 22, well in advance of the lockup expiration:

On August 6, $116B worth of SPCX stock will become eligible for selling. Short sellers see an opportunity. The estimate is that about 30% of tradeable SPCX shares are now sold short. Prudent investors should be careful about being influenced by the media. There is a fair probability that on August 6, SPCX stock could rally if a short squeeze starts, instead of falling big time as the media is predicting.

Chinese investors are aggressively buying gold and silver ETFs in China. Chinese buying has lifted both gold and silver from technical support.
The jobs report shocker is bringing in additional buying in the U.S. in gold ETF (GLD), silver ETF (SLV), and gold miner ETF (GDX).
As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

Most portfolios are now heavily concentrated in the Mag 7 stocks. For this reason, to get ahead and get an edge, investors need to dig below the surface of the Mag 7 stocks. It is equally important to rise above the noise of daily news on the Mag 7 stocks. The best way to get an edge, dig below the surface, and rise above the noise of the daily news is to pay attention to early money flows in the Mag 7 stocks on a daily basis. When there is significant news in the Mag 7 stocks that rises above the threshold of noise and impacts your entire portfolio, it is covered in the main section above.

In the early trade, money flows are positive in Amazon (AMZN), Alphabet (GOOG), Nvidia (NVDA), and Tesla (TSLA).

In the early trade, money flows are neutral in Apple (AAPL) and Meta (META).

In the early trade, money flows are negative in Microsoft (MSFT).

In the early trade, money flows are positive in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** (To see the locked content, please take a 30 day free trial) stocks in the early trade. Smart money is *** in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling. Over a long period of time, investors come out ahead by adopting smart money’s ways. The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money. Smart money is an important indicator but is only one of hundreds of indicators that go into determining the Arora Protection Band and signals. Please click here and here to understand how signals are generated.

Very Very Short-Term Indicator

The Arora Report’s proprietary very, very short-term early stock market indicator is ***. This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Gold

The momo crowd is *** gold in the early trade. Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings. Arora gold and silver ratings have just been updated.

Oil

The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is seeing buying.

Markets

Interest rates are ticking down, and bonds are ticking up.

The dollar is weaker.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

S&P 500 futures are trading at 7776 as of this writing. S&P 500 futures resistance levels are 7900 and 8000 : support levels are 7318, 7194, and 7032.

DJIA futures are up 168 points.

Gold futures are at $4385, silver futures are at $64.97, and oil futures are at $76.77.

Arora Protection Band And What To Do Now

It is important for investors to look ahead and not in the rearview mirror. The proprietary Arora Protection Band from The Arora Report is very popular. The Arora Protection Band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.

Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider holding *** in cash, Treasury bills, short term fixed income, or allocated to short-term tactical trades; and short to medium-term hedges of ***, and short term hedges of ***. This is a good way to protect yourself and participate in the upside at the same time.

You can determine your protection bands by adding cash to hedges. The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive. If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.

A protection band of 0% would be very bullish and would indicate full investment with 0% in cash. A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.

It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash. When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks. High beta stocks are the ones that move more than the market.

Traditional 60/40 Portfolio

Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.

Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less. Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.

WORLD’S SMARTEST BANKER WARNS OF HIDDEN MARGIN DEBT; SANDISK, WDC DISAPPOINT; SK HYNIX FLASH CRASH

Aug 6, 2026

Hidden Margin Debt Danger

Please click here for a chart of Sandisk (SNDK).

Note the following:

Sandisk (SNDK) is important because it has been a leading stock due to explosive NAND memory demand for AI. Sandisk also has been one of the momo crowd’s favorite stocks.
The chart shows SNDK stock rose rapidly until June 2026.
The chart shows that SNDK dropped 57% from high to low.
The chart shows that SNDK stock also rallied over the last few days when a huge stock market rally was triggered by the collapse of the $45B Situational Awareness Fund, which lost 67% in July.
The chart shows that SNDK stock has dropped again after reporting earnings.
To build the foundation, the history of SNDK is in order: SNDK was spun off from disk drive maker Western Digital (WDC) on February 21 2025. On February 21 2025, WDC stock closed at $51.93, and SNDK closed at $50.37 on a when-issued basis. On April 7 2025, intraday SNDK stock fell to $27.89. Since then, WDC stock has traded as high as $799.87 on June 18 2026, and SNDK stock has traded as high as $2354.39 on June 22 2026. WDC stock has also been a leading stock, just like SNDK.
SNDK earnings disappointed; here are the details:
- SNDK reported Q4 EPS of $39.25 vs consensus $34.51 and whisper number of about $38.
- SNDK reported Q4 revenue of $8.97 B vs consensus $8.39B and whisper number of about $9B.
- SNDK projects Q1 EPS of $44 – $46 vs consensus of $44.21 and whisper number of about $50.
- SNDK sees Q1 revenue of $10.3B – $10.8B vs consensus of $10.62B.

Here is the most important point for investors: SNDK stock traded as low as $27.89 not that long ago, and now for the next quarter SNDK is projecting EPS of $44 – $46. In little over a year from the low, SNDK is earning in one quarter more than the entire value of the company at the low.

Just like SNDK, WDC also reported great earnings and great growth but still disappointed high expectations, here are the details:
- WDC reported EPS $3.56 vs consensus of $3.23
- WDC reported Q4 revenue of $3.75 B vs consensus of $3.7B
- WDC projects Q1 EPS of $3.85 – $4.15 vs $3.77 consensus.
- WDC sees Q1 revenue $4B – $4.2B vs $4.04B consensus.
So far in the early trading, the stock market is not focusing on massive earnings growth at disk drive manufacturer WDC and NAND memory manufacturer SNDK, and insatiable demand for memory and disk drives for AI. The market is focusing on WDC and SNDK missing whisper numbers. SNDK is being punished with a drop of 10.38% and WDC with a drop of 14.48% in the premarket.

As a The Arora Report member, you have been ahead of the curve. We have repeatedly warned when these stocks were trading near the highs that, due to a number of factors, these stocks were likely to drop.

In The Arora Report analysis, here is an important observation that every AI investor needs to pay attention to. AAPL is a big NAND user. AAPL stock is trading at a forward P/E of about 34.1, but SNDK stock is trading at a forward P/E of 5.65 based on the price drop this morning. There is a huge dichotomy here. How this dichotomy is resolved will have a significant impact on the stock market. Most investors are missing the point — there can easily be 30% – 50% upside or downside in this market. The determining factor will be if AI-driven growth turns out to be secular or cyclical. For those who want next-level knowledge of this very important issue, listen to the podcast titled “THE NEXT PHASE OF AI: WHY WALL STREET GETS IT WRONG AND HOW EXCEPTIONAL INVESTORS STAY AHEAD PART 1”. The podcast in the Arora Ambassador Club.

Given that 30% – 50% moves can occur in the stock market in the coming years in either direction, it is easy for the momo crowd. The reason is the momo crowd focuses only on the upside and stays oblivious to the downside, but for prudent investors who understand that risk and reward are two sides of the same coin, the potential large moves are difficult to handle. Fortunately for The Arora Report members, money can be made while controlling the risks, irrespective of whether the earnings turn out to be secular or cyclical by focusing on Arora Protection Band. Arora Protection Band is adaptive, i.e., it changes itself with market conditions and is based on the ZYX Allocation Model with more than one hundred inputs across ten categories.

In addition to the uncertainty about AI-driven earnings, prudent investors should also pay attention to margin debt and market structure issues.
- Regarding market structure, we have been sharing with you that lately the US market, especially semiconductor trade, has been following the South Korean stock market; prior to this shift, historically the South Korean market followed the US market. The South Korean market these days is primarily driven by two memory manufacturers, SK Hynix (SKHY) and Samsung (SSNLF).
In The Arora Report analysis, the South Korean market is simply not big enough and also does not have the market structure to accommodate the two giant memory manufacturers and in turn volatility is carrying over into the U.S. stock market. Of special note is that overnight SK Hynix stock fell 30% in a flash crash in South Korea on the NextTrade exchange.
In The Arora Report analysis, another danger that mainstream media is oblivious to is hidden margin debt. Now, the world’s smartest banker, Jamie Dimon, CEO of JPMorgan Chase (JPM) is warning that hidden margin debt is very high and poses danger.
Jobless claims came at 199K vs 200K consensus.
As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Nvidia (NVDA).

In the early trade, money flows are neutral in Meta (META) and Apple (AAPL).

In the early trade, money flows are negative in Amazon (AMZN), Alphabet (GOOG), Microsoft (MSFT), and Tesla (TSLA).

In the early trade, money flows are negative in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade. Smart money is *** stocks in the early trade.

Very Very Short-Term Indicator

Gold

The momo crowd is *** gold in the early trade. This is reflected in gold ETF (GLD), silver ETF (SLV), gold miner ETF (GDX), and silver miner ETF (SIL). Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is *** in the early trade. Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is seeing light selling.

Markets

Interest rates are ticking up, and bonds are ticking down.

The dollar is slightly stronger.

S&P 500 futures are trading at 7750 as of this writing. S&P 500 futures resistance levels are 8000, 7900; support levels are 7700, 7318, 7194.

DJIA futures are up 97 points.

Gold futures are at $4297, silver futures are at $61.42, and oil futures are at $76.62.

SPACEX CHOOSES NVIDIA, SHORT SQUEEZE DRIVES STOCK MARKET RALLY AS SENTIMENT RACES TO AN EXTREME – BE CAREFUL

Aug 5, 2026

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

Extreme Positive Sentiment

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 that only five days ago the stock market touched the top band of zone 2 (support).
The chart shows that since touching zone 2, the stock market has staged a strong rally, driving it to a new high.
RSI on the chart shows the stock market is now overbought. Overbought markets tend to be vulnerable.
The chart shows there is buying in the early trade.
The rally from the top band of zone 2 was triggered by the collapse of the $45B Situational Awareness fund that lost 67% in July. Prudent investors should note that if it was not for the collapse of Situational Awareness, the stock market would likely have continued to go down instead of rallying.
Prudent investors should also note that the main reason for the rally is a short squeeze. Also aiding the rally are hopium on Iran and good earnings. As good as earnings are, prudent investors need to be careful about the flawed narrative that momo gurus are loudly pumping. We previously wrote:

Prudent investors pay attention. Momo gurus are touting 47% earnings growth this quarter so far this quarter based on reported earnings. In The Arora Report analysis, the headline is highly misleading. The reason is the large gains from equity investments in Amazon and Alphabet (GOOG, GOOGL) earnings need to be excluded to get a true picture. When these equity gains are excluded, the earnings growth this quarter is about 28% vs. 23% consensus. Earnings growth is strong, but nowhere near the misleading number momo gurus are touting.

In The Arora Report analysis, the short squeeze is likely not done yet. This means the short squeeze can provide more fuel for a rally.
Iran hopium can also provide more fuel for the stock market rally. However, investors need to be careful about Iran hopium. On one side, there is President Trump trying to find a way out with a sharp eye on the midterm election that is quickly approaching. On the other hand, there is Iran believing it has the upper hand.
Even though the U.S. is saying there is great progress in talks with Iran, Iran is saying that the U.S. is not part of the negotiations and negotiations are taking place between Iran and Oman.
Houthis have attacked a Saudi oil tanker in the Red Sea, but as of this writing, the stock market is ignoring it, putting weight on statements from the U.S. that a good deal with Iran is near.
In The Arora Report analysis, investors should also be careful because stock market sentiment has quickly reached extreme positive. If sentiment had not reached extreme positive so quickly, it would have been easier to start tactical positions from the long side. Extreme positive sentiment is a contrary signal – in plain English this means sell. However, it is important to remember that sentiment is not a precise timing indicator.
Investors need to look ahead beyond today’s bullishness in the stock market.
- September and October tend to be seasonally weak.
- Most stock market crashes occur in September and October.
- Midterm elections are ahead – historically the stock market goes through a weak period before the midterm election and then rallies after the election.
Adding to the cross currents is good news for Nvidia (NVDA). Elon Musk’s SpaceX (SPCX) has exclusively chosen Nvidia’s Blackwell architecture. SpaceX will also use Nvidia chips for space data centers. SpaceX is targeting up to 10 GW of compute by 2027. The loser here is Nvidia competitor Advanced Micro Devices (AMD).
In important earnings, earnings from Eli Lilly (LLY), Disney (DIS), Shopify (SHOP), and Arista Networks (ANET) are above consensus and whisper numbers.
ADP is the largest payroll processor in the country. ADP uses its data to give an advanced glimpse of the jobs picture before the official jobs report on Friday. ADP employment change came at 44K vs. 75K consensus.
In The Arora Report analysis, at this time the stock market likes weak employment because if employment is weak, it will be difficult for the Fed to raise rates. Prudent investors need to keep in mind that lately there has not been a good correlation between ADP data and the official U.S. data.
ISM non-manufacturing index will be released at 10am ET and may be market moving.
As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Alphabet (GOOG), and Meta (META).

In the early trade, money flows are neutral in Apple (AAPL).

In the early trade, money flows are negative in Tesla (TSLA).

In the early trade, money flows are positive in S&P 500 ETF (SPY) and neutral Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade. Smart money is *** in the early trade.

Very Very Short-Term Indicator

The Arora Report’s proprietary very, very short-term early stock market indicator is ***. The trajectory of the stock market will depend on the course of the short squeeze. This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Gold

The momo crowd is *** gold in the early trade. This is reflected in gold ETF (GLD), silver ETF (SLV), gold miner ETF (GDX), and silver miner ETF (SIL). Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

API crude inventories came at a build of 2.69M barrels vs. a consensus of a draw of 2M barrels.

The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is range bound.

Markets

Interest rates and bonds are range bound.

The dollar is weaker.

S&P 500 futures are trading at 7803 as of this writing. S&P 500 futures resistance levels are 7900 and 8000 : support levels are 7700, 7318, and 7194.

DJIA futures are up 222 points.

Gold futures are at $4223, silver futures are at $61.95, and oil futures are at $75.94.

47% EARNINGS GROWTH? NOT REALLY – BEZOS SELLS AMAZON, AI STAR PALANTIR OTHERWORLDLY, CATERPILLAR BLOWOUT

Aug 4, 2026

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

Earnings Movers

Please click here for a chart of Amazon stock (AMZN).

Note the following:

The Morning Capsule is about the big picture, not an individual stock. The chart of AMZN stock is being used to illustrate the point.
The AMZN chart illustrates the contrast between how smart money behaves and how the momo crowd behaves.
The chart shows a gap up in AMZN stock on blowout earnings.
The chart shows a technical breakout above zone 1 (previously resistance).
The chart shows that the momo crowd, as well as those who follow traditional technical analysis, aggressively bought the breakout.
Who is the smartest man about AMZN stock? Of course, it is Amazon founder Jeff Bezos. Jeff Bezos is the smart money here. Did Bezos join the momo crowd in aggressively buying the breakout in AMZN stock? Of course not. Bezos did exactly what smart money always does. Bezos took advantage of the strength generated by the momo crowd and filed to sell 15M shares of AMZN stock, worth about $4.07B.
There have been a lot of concerns about AI software stock Palantir (PLTR). PLTR stock has pulled back on concerns about competition from large language models. Palantir reported blowout earnings better than the consensus and whisper numbers. This quote from Palantir CEO Alex Karp is highly instructive: “Demand for AI sovereignty has now been unleashed. And Palantir is the only company that has demonstrated it can transform tokens into actual economic value. Our customers trust us to provide them with maximal control over their operations, data, and decisions. Their competitive advantage should never become the training data for future models. This quarter was otherworldly: our U.S. commercial revenue grew 149% year-over-year, our overall revenue grew 93% year-over-year, and our Rule of 40 score climbed to 155%. The sovereign AI revolution makes us very optimistic about the future.”
PLTR is in the ZYX Buy Core Model Portfolio and long from an average of $20.15. It is trading at $145.69 as of this writing in the premarket, representing a gain of 623%.
Caterpillar (CAT) stock has been a major beneficiary of the AI data center buildout. CAT stock had pulled back on concerns that AI data center growth might be slowing. Caterpillar reported blowout earnings better than consensus and whisper numbers. Going forward, Caterpillar sees broadening momentum.
CAT is in the Dow Jones Industrial Average (DJIA) and is primarily responsible for the move up in DJIA in the early trade.
Prudent investors pay attention. Momo gurus are touting 47% earnings growth this quarter so far this quarter based on reported earnings. In The Arora Report analysis, the headline is highly misleading. The reason is the large gains from equity investments in Amazon and Alphabet (GOOG, GOOGL) earnings need to be excluded to get a true picture. When these equity gains are excluded, the earnings growth this quarter is about 28% vs. 23% consensus. Earnings growth is strong, but nowhere near the misleading number momo gurus are touting.
In the early trade, the stock market is jumping up on falling oil and falling bond yields. Oil and bond yields are falling on Qatar signaling that a draft agreement is being circulated with various parties, including the U.S. and Iran.
Expect blind money to flow into the stock market today. Blind money is the money that flows into the stock market on the first two days of the month without any analysis irrespective of market conditions.
ISM Manufacturing Index came at 55.6% vs. 54% consensus. This is the strongest data since 2022. Manufacturing in the U.S. is picking up, primarily due the demands from construction of AI data centers.
JOLTS job openings will be released at 10am ET and may be market moving.
Advanced Micro Devices (AMD) and SpaceX (SPCX) are scheduled to report earnings after the regular market session close today.
As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Nvidia (NVDA) and Tesla (TSLA).

In the early trade, money flows are negative in Amazon (AMZN), Microsoft (MSFT), Alphabet (GOOG), Meta (META), and Apple (AAPL).

In the early trade, money flows are positive in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade. Smart money is *** in the early trade.

Very Very Short-Term Indicator

Gold

The momo crowd is *** gold in the early trade. This is reflected in gold ETF (GLD), silver ETF (SLV), gold miner ETF (GDX), and silver miner ETF (SIL). Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is range bound.

Markets

Interest rates are ticking down, and bonds are ticking up.

The dollar is range bound.

S&P 500 futures are trading at 7653 as of this writing. S&P 500 futures resistance levels are 7700, 7900, and 8000 : support levels are 7318, 7194, and 7032.

DJIA futures are up 660 points.

Gold futures are at $4100, silver futures are at $59.97, and oil futures are at $77.42.

YEN INTERVENTION AND FALLING OIL HELP STOCKS BUT SELLING IN KOREA THROWS A MONKEY WRENCH

Aug 3, 2026

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

Falling Oil

Please click here for a chart of oil ETF (USO).

Note the following:

Understanding the moves in oil are very important because they have been directly impacting bonds and moves in bonds in turn have been impacting the stock market.
The chart shows the run up in oil when Iran war fear was at its peak.
The chart shows a significant drop in oil when the U.S. and Iran started negotiating.
The chart shows a low in oil on optimism about Iran after a Memorandum of Understanding (MoU) was signed.
The chart shows a move up in oil on violations of the MoU.
The chart shows a big move up in oil when President Trump threatened the biggest attack ever on Iran. Since then, instead of backing off, Iran has aggressively attacked U.S. bases in the region.
The chart shows oil is falling this morning as President Trump has backed off not only from a major attack on Iran but also from responding to Iran’s attacks on U.S. bases. Negotiations are beginning today.
Yields are backing off today for two reasons:
- A pullback in oil
- Massive joint intervention by the U.S. and Japan in forex market to support yen
In the early trade, yields pulling back is bringing in buying in the stock market.
Buying in the stock market in the early trade is being hampered by selling in the South Korean stock market overnight. Kospi fell 5.12% overnight. Samsung Electronics (SSNLF) fell 8.76%, and SK Hynix (SKHY) fell 8.79%.
Selling from South Korea is bringing in selling in semiconductor stocks in the U.S. in the early trade, especially impacted is Micron (MU) stock.
Looking ahead, there are important earnings from Advanced Micro Devices (AMD) and SpaceX (SPCX) on Aug. 4 as well as Sandisk (SNDK) on Aug. 5. There is also expiration of the SPCX lockup.
In major news, two pharma giants Bristol-Myers Squibb (BMY) and AstraZeneca (AZN) are in merger talks.
As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), Alphabet (GOOG), Meta (META), and Tesla (TSLA).

In the early trade, money flows are negative in Nvidia (NVDA).

In the early trade, money flows are positive in S&P 500 ETF (SPY) and negative in Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** in the early trade. Smart money is *** in the early trade.

Very Very Short-Term Indicator

Gold

The momo crowd is *** in gold in the early trade. This is reflected in gold ETF (GLD), silver ETF (SLV), gold miner ETF (GDX), and silver miner ETF (SIL). Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is *** oil in the early trade. Smart money is *** oil in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is seeing selling.

Markets

Interest rates are ticking down, and bonds are ticking up.

The dollar is weaker.

S&P 500 futures are trading at 7563 as of this writing. S&P 500 futures resistance levels are 7700, 7900, and 8000 : support levels are 7318, 719, and 7032

DJIA futures are up 691 points.

Gold futures are at $4072, silver futures are at $57.48, and oil futures are at $78.78.

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Nigam Arora

Nigam Arora is known for his accurate stock market calls. Nigam is a distinguished master of the macro. He is a popular columnist with over 100 million page views, an engineer, and nuclear physicist by background. Nigam has founded two Inc. 500 fastest growing companies and has been involved in over 50 entrepreneurial ventures. He is the developer of Theory ZYX of Successful Change Management and is the author of the book on Theory ZYX, as well as the developer of the ZYX Change Method for Investing.

Dr. Natasha Arora

Dr. Natasha Arora has significant expertise in investment analysis especially biotech, healthcare, and technology. Natasha is a graduate of Harvard Medical School followed by a postdoc at MIT. She has published several peer reviewed research papers in top science journals.

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