Semiconductors leads a split tape — 28 points clear of Communication Services on 3-month relative strength.
Beyond the lead, SPY's dealer book reads short gamma at −$500.5M; 68% of S&P names hold their 200-day.
The S&P 500 closed at 7,458. Breadth reads 68% of members above the 200-day average and 65% above the 50-day. SPY itself holds 7.2% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 34 to 3. The VIX sits at 18.8 — unremarkable.
On the options side, net GEX on SPY sits at −$500.5M across tracked expiries — a dealer-short-gamma read on delayed CBOE data. The call wall stands at $742 with the put wall at $742. Options price a move of roughly ±$47.36 on SPY (±6.37%) into the 2026-10-16 expiry. For QQQ the same horizon prices ±10.24%.
Sector-wise, the strongest three-month showing against SPY comes from Semiconductors (SMH) at +15.2%, ahead of Technology at +8.8%. At the other end, Communication Services (XLC) lags at -12.3%, with Utilities not far ahead at -8.2%.
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.