The S&P 500 closed at 7,393. Under the surface, 61% of index members are above their 200-day moving average and 58% are above their 50-day. SPY itself holds 8.0% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 32 to 11. The VIX sits at 19.4 — unremarkable.
SPY's dealer-gamma picture reads short gamma: net GEX of −$67.5M across tracked expiries (delayed CBOE data). The call wall stands at $728 with the put wall at $724. Options price a move of roughly ±$17.76 on SPY (±2.45%) into the 2026-06-18 expiry. For QQQ the same horizon prices ±3.92%.
Across sectors, Semiconductors (SMH) leads on three-month relative strength versus SPY at +41.0%, with Technology next at +19.6%. Utilities (XLU) brings up the rear at -13.8%; Communication Services is next-weakest at -12.1%.
This note is auto-generated from Tapelab's nightly market data. It reports what the data said on the date above — research commentary, not investment advice.