Weekly Recap: August 3–7, 2026 — Record Highs, Two-Day Fade, and a 9W/3L Week for the DT
Market Overview
The MES opened the week at 7,562.25 and closed at 7,777.25 — a net gain of +215 points (+2.8%) over five sessions. The cash S&P added +3.37%. That's a strong week by any measure, but the distribution of those gains matters for anyone trading it actively.
Monday set the tone. Price dipped to the weekly low of 7,542.75 early before snapping back and closing at 7,628.25, up nearly 73 points. The driver was oil — crude slid sharply on renewed US-Iran talks and optimism around a potential deal to ease tensions at the Strait of Hormuz. Lower energy prices read as disinflationary, and the market priced that in immediately.
Tuesday was the week's defining session. The MES ran from 7,660 to a high of 7,786, closing at 7,766.50 for +106.5 points on the day — the S&P cash index hit a record high. The fuel was earnings. Palantir and Caterpillar both beat expectations, with Palantir dramatically raising its full-year revenue outlook and reassuring investors that AI-driven demand is intact. Between the geopolitical tailwind from Monday and back-to-back blowout earnings reports, bulls ran the tape hard.
Wednesday is where the week's character changed. Price opened at 7,807.75, tagged the weekly high of 7,820.25, and reversed — closing at 7,764.50, down 43.2 points. The S&P surrendered an intraday record as AI stocks weakened, but volatility and credit did not confirm broad risk-off. This looked more like digestion than distribution, but 7,820 was a clear message that resistance was there.
Thursday extended the pullback. The MES held a tight range between 7,724.25 and 7,768.50, closing at 7,735.75, down another 15.8 points. The S&P 500 fell as traders kept an eye on the Middle East, with a deal to reopen the Strait of Hormuz still in the works. The Dow was also weighed down by a 3% drop in Salesforce after the company announced a leadership shuffle. Two down days, but orderly — no panic.
Friday reclaimed some ground. The MES closed at 7,777.00, up +20.2 points. July's jobs report showed unexpected losses, but the Nasdaq rose and the S&P 500 gained as markets interpreted the soft print favorably. VIX finished the week at 14.90, down 7.05% from Monday's open — fear faded as the week closed. The 10-year yield barely moved, settling at 4.66%, with no bond market disruption to derail equities.
Weekly range: 277.5 points. Enough structure to trade, enough volatility to keep it honest.
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DT Algorithm: 9W / 3L, +22.7 pts ($+114)
Good week for the DT. Nine wins, three losses, +22.7 net points, $114 gained. The algo now sits at a lifetime record of 199W/96L — 67% win rate.
Monday was textbook — three longs, three T1 exits, no drama. The first entry at 7,578.00 caught the morning reversal right off the weekly low as buyers absorbed the early dip. The next two entries at 7,602.75 and 7,620.50 followed price higher through the session. Clean, disciplined, +23.0 points combined on the day.
Tuesday was busier — five trades, four wins, one stop. The entry at 7,699.25 hit T2 for +13.9 points, and 7,742.75 rode a trailing stop to +12.4 points as the market pushed into record territory. Those two exits show the algo doing what it's supposed to do: managing the trend, not just banking the first target and going home. The fifth entry at 7,783.75 paid the price for trying to extend the move too close to the 7,786 session high — stopped at 7,767.50 for -16.2 points. One stop on a day like Tuesday is acceptable.
Wednesday and Thursday were both losses. The Wednesday long at 7,813.00 tried to extend the breakout but the weekly high at 7,820.25 capped it — stopped at 7,796.50 for -16.5 points. Thursday's long at 7,743.75 stopped at 7,727.50 for -16.2 points as the pullback continued. These are the days where a trend-following algo runs into consolidation after a big move. Entries were logical given the prior context; the market just wasn't cooperating. Stop discipline held both times, which is the job.
Friday wrapped the week cleanly. The 7,775.00 long hit T1 at 7,781.85 for +6.8 points, and a second trade at 7,779.00 closed near end-of-day for a token +0.5 points. Good way to finish.
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TF Algorithm
No trades this week. The TF didn't generate valid setups in the August 3–7 window — the two-day rally followed by a two-day chop didn't produce the kind of sustained trend structure the TF needs to enter. Sitting out is the right call when conditions don't fit. Forcing setups is how you turn a flat week into a losing one.
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Next Week Outlook
We're heading into August 10 at 7,777.25 on the MES — roughly 43 points off the weekly high and sitting in the upper third of the week's range. That's technically constructive, but it's also a level where sellers showed up twice already.
The key question is whether the record-high area near 7,820 gets taken out or acts as a ceiling for another week. A hold above 7,750 — the rough floor of Wednesday's pullback — keeps the bull case alive for a push through that resistance. A break below it opens the door to a deeper retest of the 7,700 area.
On the calendar, watch for any Fed commentary following the soft jobs print. Speakers clarifying the rate path could move markets significantly in either direction. Mid-August also tends to see thinner participation, which can exaggerate intraday moves — something both algos will navigate based on structure, not assumption.
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Try It on Paper First
If you're watching Quanntick's performance and considering whether a system like this belongs in your trading, start with paper trading. Get reps watching the DT enter, manage, and exit before any real money is involved. That's how you build confidence in a process. [Start paper trading with Quanntick here.]
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*Disclosure ([[COUNSEL-PLACEHOLDER]]): results shown are from a simulated (SIM) account. Simulated performance is hypothetical, does not represent actual trading, and has inherent limitations. Past performance is not indicative of future results.*