Health Care leads a split tape — 21 points clear of Communication Services on 3-month relative strength.
Elsewhere, SPY's dealer book reads short gamma at −$46.4M, while 72% of S&P names hold their 200-day.
The S&P 500 closed at 7,641. Under the surface, 72% of index members are above their 200-day moving average and 54% are above their 50-day. SPY itself holds 8.2% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 12 to 4. The VIX sits at 16.0 — unremarkable.
SPY's dealer-gamma picture reads short gamma: net GEX of −$46.4M across tracked expiries (delayed CBOE data). The call wall stands at $770 with the put wall at $760. Into the 2026-08-21 expiry, the straddle implies a SPY move of about ±$4.31, or ±0.57%. For QQQ the same horizon prices ±0.88%.
Sector-wise, the strongest three-month showing against SPY comes from Health Care (XLV) at +13.6%, ahead of Financials at +6.9%. Communication Services (XLC) brings up the rear at -7.6%; Utilities is next-weakest at -4.7%.
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.