This week, the S&P 500 closed up 2.2% for July but slipped 1.6% on the first day of August. Volatility and credit spreads are on the rise seasonally, while investors are increasingly favoring tech stocks. US electricity demand has hit a new all-time high. Short-term technicals look uncertain, but medium/long-term trend indicators remain healthy. In July, the S&P 500 was up 2.2% and is now 7.8% higher YTD. US large-cap stocks ranked third in monthly returns, with Frontier Markets leading. August started poorly, with a significant selloff, but technical analysis suggests a potential rebound.

Sources: Topdown Charts, Asset Class Returns – July 2025, Chartstorm.

Read more at Investing.com: Market Momentum Still Intact but Charts Flash Early Warnings