The Market in Pictures, August 21

by | Aug 21, 2026 | Blog, Charts

Our team looks at a lot of research throughout the day. Here are a handful of charts we think are good summations of investor activity, from a market full of dispersion, to an AI boom driving an infrastructure buildout, a consumer who keeps spending, and a bond market that no longer plays the role it used to. Have a great weekend!

 

Dave: Technology stocks aren’t nearly as popular with fund managers as the headlines might imply

Graphic as of 08.14.2026

 

Brett: The index looks calm, but the crowded end of the market has been getting knocked around all year

Graphic via The Compound as of 08.20.2026

 

Mark: and a wide swath of sectors and styles aren’t nearly as tied to index performance

 

John Luke: Each of the earlier booms here reshaped the economy long after the spending stopped

Graphic as of 08.10.2026

 

Brad: and unlike almost every other capital cycle, this one hasn’t blinked at the cost of money

Graphic as of 08.20.2026

 

Beckham: The demand side is showing up in corporate budgets, and the pace is picking up

Graphic as of 08.12.2026

 

Jake: and this is with much of the corporate base not even signed up yet

Graphic as of 08.18.2026

 

JG: Away from tech, the people running factories suddenly see growth ahead

Source: Bespoke as of 08.20.2026

 

Ten: and households keep spending while telling surveys things are terrible

Graphic as of 08.15.2026

 

John: This makes sense when you consider how many people have a locked-in mortgage expense

Graphic as of 08.15.2026

 

Dave: The inflation argument that most worried the Fed has quietly resolved itself

Graphic as of 08.13.2026

 

Dave: and whatever the committee says about being restrictive, markets clearly aren’t feeling it

Graphic as of 08.13.2026

 

Brian: Over in bonds, the forty-year tailwind that helped most balanced portfolios has turned into a headwind

Graphic as of 08.17.2026

 

JD: not a surprise given how many of these countries lean on foreign money

Graphic as of 08.20.2026

 

Joseph: and those bonds are moving in gear with stocks, leaving their hedging benefit a major question mark

Graphic as of 08.13.2026

 

John Luke: It’s important to remember that not only do stocks skew higher, but large up years are more common than large down years

Graphic as of 08.17.2026

 

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Advisory services offered through Aptus Capital Advisors, LLC, a Registered Investment Adviser registered with the Securities and Exchange Commission. Registration does not imply a certain level or skill or training. More information about the advisor, its investment strategies and objectives, is included in the firm’s Form ADV Part 2, which can be obtained, at no charge, by calling (251) 517-7198.

Aptus Capital Advisors, LLC is headquartered in Fairhope, Alabama.

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