SPY Top 20 Analysis — Sep 7, 2026

Summary

Critical week for SPY: CPI Friday is the last data point before Fed's rate decision. Key questions: will cooler CPI delay hikes? Will in-line CPI lead to a cut for political reasons (Mid Terms)? Earnings season complete, margins took a hit from AI CapEx. META likely next to retest 200 WMA, GOOG too. META and GOOG 200 WMA retests = potential opportunity.

Details

First important week in September. Earnings season over after NVDA reported. Margins took a hit as AI Capex continues to be high, allowing some large and Mega Cap to pull back to their 200 WMA's for a retest — controlled overall. META is likely the next position to retest its own 200 WMA and likely GOOG too — an opportunity we will not be ignoring. CPI is out Friday, the last economic data the Fed will use for their interest rate decision. Last 2 CPI prints have been cool and in line. Cooler than expected = Fed may delay hikes until following month (best case). Hotter than expected = Fed under pressure, likely raises. The dilemma: what happens if CPI comes in line? Will the Fed cut anyway and upset Trump leading into Mid Terms, or delay one more month to appease Trump and Republicans? The conversation behind closed doors between Trump and Warsh is likely about this pressure. The SPY chart: we are not in pull back territory relative to the unfolding macro scenario, and the chart is not undervalued right now. Economic data: NFIB Small Business Optimism Tue, 3-year note auction Tue, MBA Mortgage Applications Wed, 10-year note auction Wed, API Petroleum Inventory Wed, PPI Thu, Jobless Claims Thu, CPI Fri, Consumer Sentiment Fri.

Price Check edited

|- 2026-09-15 — $757.35 Live price update.

|- 2026-09-11 — $757.83 Live price update. | 2026-10-02 (afternoon) — $769.22 Live afternoon price update.

| 2026-10-06 (afternoon) — $779.95 Live afternoon price update.

Price Check

• 2026-09-09 — $763.12 (-0.37%) Flat. CPI data on Friday before Fed decision.

Gaps new

2026-09-13 — email #103304 new

Subject: $SPY - TOP 20 - Price check: 2026-09-14 — $764.29 Weds 2pm EST is game time, whether or not the Fed will Increase Rates or keep them unchanged I think we can rule out a Rate Cut, in spite of President Trump calling for this to happen....

2026-09-20 — email #103582 — TOP 20 (Image-based) new

Subject: $SPY - TOP 20 - Type: Image-based TOP 20 chart post. No extractable text. Price check: 2026-09-20 — $761.69 (+0.13%). SPY TOP 20 image post received Sunday. Post-FOMC environment. Key level $764 resistance. |- 2026-09-21 — $772.99 — Above $764 resistance. Post-FOMC environment settling. Next Fed decision focus.

Price check: 2026-09-29 — $763.51 (-0.27%). Slight pullback from $772, testing $764 support level.

2026-10-04 — email #104179 — TOP 20 (Image-based)

Subject: $SPY - TOP 20 - Type: Image-based TOP 20 chart post. No extractable text. Price check: 2026-10-04 — $769.67 (prev close). Sunday TOP 20 batch post.

| 2026-10-07 (pre-market) — $779.14 Live pre-market price update.