Morning Dose #312: Breadth Confirms It: S&P Tops 7,700 as Chips Roar Back – Wednesday 8/5/2026

The S&P 500 closes above 7,700 for the first time on broad, confirmed breadth expansion, fueled by a historic semiconductor rebound, a crude oil selloff, and falling yields. But the episode flags a critical shift: earnings beats alone no longer cut it — only guidance-quality raises are being rewarded, and a stretched USD/JPY carry trade... The post Morning Dose #312: Breadth Confirms It: S&P Tops 7,700 as Chips Roar Back – Wednesday 8/5/2026 first appeared on WaveRider Reads: Trading Books Unpacked.