Semiconductors leads a split tape — 80 points clear of Energy on 3-month relative strength.
Beyond the lead, SPY's dealer book reads long gamma at $12.8M; 62% of S&P names hold their 200-day.
The S&P 500 closed at 7,499. Breadth reads 62% of members above the 200-day average and 62% above the 50-day. SPY itself holds 8.6% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 25 to 12. Volatility is unremarkable, with the VIX at 16.4.
SPY's dealer-gamma picture reads long gamma: net GEX of $12.8M across tracked expiries (delayed CBOE data). The call wall stands at $745 with the put wall at $745. Options price a move of roughly ±$16.52 on SPY (±2.21%) into the 2026-07-17 expiry. For QQQ the same horizon prices ±4.04%.
Sector-wise, the strongest three-month showing against SPY comes from Semiconductors (SMH) at +52.7%, ahead of Technology at +26.1%. At the other end, Energy (XLE) lags at -27.6%, with Utilities not far ahead at -16.7%.
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.