The Daily Dashboard
Oil Craters as Stocks Push to Records
Crude Sheds 5.46% While the Dollar Barely Blinks
Tuesday, August 4, 2026
TRADER'S BRIEF
Crude (USO, -5.46%) cratered Monday as the Iran ceasefire held through the weekend and OPEC+'s reported September output hike layered supply-side pressure on top of the de-escalation.
The S&P (SPY, +1.42%) closed at a fresh high above 757, and the Nasdaq (QQQ, +1.76%) confirmed GREEN, both shrugging off the crude move entirely.
Despite the historic, first-in-15-years joint U.S.-Japan yen intervention extending into a second day, the dollar (UUP) closed flat at 28.17 for a second straight session. The Supercycle Score holds exactly where it sat Friday: 20/100 ("Strong Headwind"), though the dollar's own trend reading confirmed RED for the first time in this stretch.
Palladium (-1.72%) and platinum (-1.34%) led the metals lower even as gold ticked up modestly (live spot ~$4,105) and silver's futures print jumped roughly 1.8% to $58.88.
Copper (CPER, +0.20%) stayed the board's strongest trend, posture 84, though its CCI eased off an even higher Friday reading.
With Brad Hoppmann
ALSO FROM GOLDEN CYCLES RESEARCH
Sector Cycle Radar: the free daily read on which S&P sectors are turning
If the dollar-debasement trade is the commodity side of this story, sector rotation is its equities-side mirror: see which S&P sectors are turning before the headlines catch up.
That's the free preview. Below: the full Scoreboard, the Supercycle Score, the macro read, and today's Taintsville Take.
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