Last week was another wild week with earnings, the Fed, and price action in general. The Fed held rates at this meeting but indicated that cuts could be on the table in September. This was met positively by the market only to be sold off into the back half of the week with the S&P 500 ($SPX) (SPY) closing down over 2%. Earnings were also mixed last week with many of the Magnificent Seven now having reported. This week is significantly quieter on both the news and earnings front, but context appears to be more important than ever. Markets are, at least in the short term, selling every bounce th…