The S&P 500 closed at 7,357. Under the surface, 62% of index members are above their 200-day moving average and 64% are above their 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 54 to 19. The VIX sits at 18.9 — unremarkable.
SPY's dealer-gamma picture reads long gamma: net GEX of $12.3M across tracked expiries (delayed CBOE data). The call wall stands at $733 with the put wall at $733. Options price a move of roughly ±$23.68 on SPY (±3.22%) into the 2026-07-17 expiry. For QQQ the same horizon prices ±5.62%.
Across sectors, Semiconductors (SMH) leads on three-month relative strength versus SPY at +42.4%, with Technology next at +20.4%. At the other end, Energy (XLE) lags at -20.3%, with Communication Services not far ahead at -15.5%.
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.