The Bulls Remain! - 08/27/26

Just when the bears thought they had an opening...

The bulls came roaring back! 🐂

After weeks of questions about stretched valuations, AI spending, inflation, interest rates and whether technology stocks were finally running out of steam, today's market delivered a pretty convincing response:

Not yet!

In today's episode, we'll break down the latest round of corporate earnings and the technical breakouts pushing the markets higher.

Leading the charge was Nvidia, which surged nearly 9% following another monster earnings report and an extremely bullish outlook for AI demand. But Nvidia wasn't alone. Strong results and forecasts from companies including Salesforce and CrowdStrike helped ignite a broader technology rally, sending the Nasdaq up roughly 1.6% and the S&P 500 up about 0.7%.

So the big question is:

Are we witnessing the beginning of another leg higher in this bull market?

On today's show, we'll discuss:

Nvidia's monster move – Why its earnings and forward guidance gave the AI trade another shot of adrenaline. Technology breaks out – We'll look at the charts and identify the technical levels that were broken today. Magnificent 7 & AI – Is Big Tech once again ready to take control of the market? Earnings strength – With roughly 95% of the S&P 500 having reported, Q2 earnings are tracking toward exceptionally strong year-over-year growth. Market breadth – Is this rally expanding beyond a handful of mega-cap technology companies? The bears' argument – Inflation remains stubborn, interest rates remain elevated, and geopolitical uncertainty hasn't disappeared. What comes next? – We'll identify the technical levels and upcoming catalysts that could determine whether today's breakout has staying power. That's what makes today's price action particularly interesting.

Yesterday, the market was dealing with a hotter-than-expected PCE inflation reading, which reinforced concerns that interest rates may stay elevated.

Then Nvidia reported...