Decisive rotation: Semiconductors runs +42.5% on SPY while Utilities lags at -15.0%.
Beyond the lead, SPY's dealer book reads long gamma at $13.3M; 62% of S&P names hold their 200-day.
The S&P 500 finished the session at 7,431. Under the surface, 62% of index members are above their 200-day moving average and 61% are above their 50-day. SPY itself holds 8.4% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 41 to 6. The VIX sits at 17.7 — unremarkable.
On the options side, net GEX on SPY sits at $13.3M across tracked expiries — a dealer-long-gamma read on delayed CBOE data. The call wall stands at $747 with the put wall at $735. Options price a move of roughly ±$6.4 on SPY (±0.86%) into the 2026-06-15 expiry. For QQQ the same horizon prices ±1.34%.
Across sectors, Semiconductors (SMH) leads on three-month relative strength versus SPY at +42.5%, with Technology next at +20.4%. At the other end, Utilities (XLU) lags at -15.0%, with Communication Services not far ahead at -12.9%.
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.