The S&P 500 closed at 7,365. Breadth reads 62% of members above the 200-day average and 60% above the 50-day. SPY itself holds 7.0% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 23 to 10. Volatility is unremarkable, with the VIX at 19.5.
SPY's dealer-gamma picture reads short gamma: net GEX of −$188.5M across tracked expiries (delayed CBOE data). The call wall stands at $735 with the put wall at $735. Into the 2026-07-17 expiry, the straddle implies a SPY move of about ±$24.23, or ±3.26%. For QQQ the same horizon prices ±6.09%.
Across sectors, Semiconductors (SMH) leads on three-month relative strength versus SPY at +41.6%, with Technology next at +19.9%. Energy (XLE) brings up the rear at -18.6%; Communication Services is next-weakest at -15.2%.
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.