Semiconductors leads on relative strength; 60% of S&P names hold the 200-day

The S&P 500 closed at 7,501. Breadth reads 60% of members above the 200-day average and 56% above the 50-day. SPY itself holds 8.8% above its own 200-day, keeping the long-term trend gate on. New 52-week lows outnumber new highs 23 to 20. The VIX sits at 16.4 — unremarkable.

Across sectors, Semiconductors (SMH) leads on three-month relative strength versus SPY at +47.2%, with Technology next at +22.0%. Energy (XLE) brings up the rear at -19.7%; Utilities is next-weakest at -14.7%.