Below are highlights from the NDW Morning Update Video for the morning of 08/17/2026.
Below are highlights from the NDW Morning Update Video for the morning of 08/17/2026. Access the the video on the NDW Morning Update Video page.
- While U.S. equity indices were slightly negative to flat during Friday’s (8/14) trading, the week was still positive for a majority of indices. Apart from the Nasdaq-100 (NDX) and Nasdaq Composite (NASD), most U.S. indices sit near recent highs. The most recent to join in marking new highs was the Russell 2000 Index (RUT) toward the end of last week.
- International equities experienced similar action with mostly flat action during Friday’s (8/14) trading session while the week saw the iShares MSCI EAFE ETF (EFA) flat and the iShares MSCI Emerging Markets ETF (EEM) up more than 1%. Last week’s action witnessed the emerging markets fund move back above the 50-day moving average.
- On average, participation increased over the last week, with the distribution curve of the NDW 40 Sectors climbing above 48%. Notable NDW sectors to see improvement were semiconductors (^BPSEMI) and precious metals (^BPPREC). Additionally, RS in Xs indicators have seen an uptick with recent action, highlighting individual stocks’ near-term outperformance against the market. While smaller universe RS in Xs charts have already witnessed reversals higher, the broader market RS in Xs for the NYSE universe sits within one box of reversing back into Xs.
- The upcoming week has a focus on retail earnings with the likes of Home Depot (HD) and Walmart (WMT) headlining (see highlights of support and resistance below). Additional names reporting this week include Lowes (LOW), Target (TGT), TJX Companies (TJX), Analog Devices (ADI), John Deere (DE), and Ross Stores (ROST).
- Home Depot (HD) – Reporting on 8/19 - HD witnessed a shift back to a positive trend and a return to a buy signal to kick off August’s trading, while last week’s trading saw the stock pullback to the middle of the 10-week trading band. Note resistance at $356, while additional lies in the upper $390s. Initial support lies at $336 from the bullish support line, while additional can be found at $332 and $324.
- Walmart (WMT) – Reporting on 8/20 – WMT has maintained a sell signal since May with a second following in July. After falling to a 3 for 5’er then, the stock has consolidated within the lower $110s. From here, a move to $118 would return the stock to a buy signal. Note potential resistance until $122, then again from the stock’s prior highs at $134. Initial support can be found in the $108 to $110 range, while additional can be found at $99.
