$Global X Copper Miners ETF(COPX)$ Looking at the weekly close on copper stocks ETF. COPX put in an +11.63% gain last week. Among the metals ETFs I follow closely — GDX, SILJ, SPPP, GLD, SLV — COPX was showing the most bullish ABC Wave 2 bottom scenario. It is now leading all the metals ETFs higher here in Aug 2026. The structure off the April 2025 generational low, the one tied to the TACO Tariff, has been about as textbook as you will ever see for a complete Elliott Wave five-wave impulsive fractal. It unfolded pretty clearly. COPX was obviously in a fifth-wave blowoff on heavy sell volume during the last week of Jan 2026, when silver touched 120. On gold, the steep uptrend line that started in Sept 2025 broke to the downside in March 2026.
Global equity funds pulled in +$21.2 billion in inflows during the week ending August 5th. That comes right after +$27.7 billion the prior week, extending the streak to 11 consecutive weekly inflows. European equity funds led the way with +$12.5 billion, the biggest weekly haul since July 8th. Asian funds followed at +$8.2 billion, while US funds saw -$1.6 billion in outflows. Since the start of June, global equity funds have attracted +$215 billion in total inflows. The appetite for global stocks looks extremely strong right now. $SPDR S&P 500 ETF Trust(SPY)$ $ImmunityBio, Inc.(IBRX)$ $Aditxt, Inc.(ADTX)$
$Invesco QQQ(QQQ)$ just not doing much after that solid 3.3% gain over the last five days, only a small 0.37% pullback. Options flow felt mostly balanced, a lot of 0DTE at-the-money scalping, nothing really giving a clear signal for continuation or reversal. Institutions don't seem to be chasing the upside hard or piling into protection. The one thing that stands out is a $21.8M block in 9/4 $735 calls, so that 735 level is a big focus heading into early September. If price action firms up, that strike could be a key spot for upside targets.
$SPDR S&P 500 ETF Trust(SPY)$ Looks to me like the next move in USDJPY will break above 164. U.S. yields will really be moving upwards when that happens.
$Advanced Micro Devices(AMD)$ $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ AMD has signed a deal with Core Scientific for 530MW of AI data center capacity across five sites. Initial delivery is expected in 2027, with full delivery by the end of 2028, and there is potential to scale to 2.5GW over time. The deal is reportedly worth more than $14 billion.
$SPDR S&P 500 ETF Trust(SPY)$ This is exactly why most perma-bears lose in the end in the US market. Looking at a SPY weekly chart, corrections usually don't last long, and they tend to be followed by big gains: ■ In 2020, a 1-month correction of -30% was followed by a 19-month rally of 150%. ■ In 2021, a 9-month correction of -39% was followed by a 27-month rally of 121%. ■ In 2025, a 2-month correction of -27% was followed by a 6-month rally of 60%. ■ In 2025, a 5-month correction of -13% was followed by a 2-month rally of 35%.