SPY enters the week of Aug 3–7 at an important decision point. The AI trend remains constructive after another strong earnings season led by Microsoft and Meta, but the market is now transitioning from earnings-driven momentum to macro catalysts. Economic data and Treasury yields are likely to determine whether buyers can extend the rally or pause after recent gains.

The AI equilibrium sits between 737.9 and 740.94. As long as SPY holds this zone, the broader structure remains constructive.

A sustained move above 749.47 would signal fresh momentum and open the path toward 755.55. If buyers continue to press higher, 764.08 becomes the next major upside objective.

On the downside, failure to hold the equilibrium zone shifts the focus to 726.33. Below that, the structure weakens toward 717.8. Only a decisive break below 709.27 would suggest a much deeper correction.

### Weekly Map

Equilibrium: 737.9–740.94

Bullish Trigger: Above 749.47

Upside Path: 755.55 → 764.08 → 778.69

Key Support: 726.33

Weakness Below: 726.33 → 717.8 → 709.27

### Final Read

740 is the week's decision zone. Holding above it keeps the primary trend intact and favors another attempt at 749.47. Failure to reclaim or hold the equilibrium shifts the advantage to sellers, with 726.33 becoming the first downside target.