Bulls With Seatbelts: Late-Summer Macro, S&P Setup, and REAX

August 26, 2025 Update

Quick note: starting today, I’ll sometimes post parts of my research for paid supporters only, at random. Today is the first time. About 70% of my content will stay free. About 30% will be for paid supporters.
If you want to back my work, now’s a good time. It’s about 16 cents a day, and even less with the annual plan. Thank you!