Software leads a split tape — 32 points clear of Semiconductors on 3-month relative strength.
Elsewhere, SPY's dealer book reads long gamma at $38.0M, while 50% of S&P names hold their 200-day.
The S&P 500 finished the session at 7,765. Under the surface, 50% of index members are above their 200-day moving average and 29% are above their 50-day. New 52-week lows outnumber new highs 20 to 7. The VIX sits at 14.2 — unremarkable.
On the options side, net GEX on SPY sits at $38.0M across tracked expiries — a dealer-long-gamma read on delayed CBOE data. The call wall stands at $775 with the put wall at $772. Options price a move of roughly ±$3.08 on SPY (±0.4%) into the 2026-09-23 expiry. For QQQ the same horizon prices ±0.63%.
Across sectors, Software (IGV) leads on three-month relative strength versus SPY at +18.1%, with Energy next at +11.2%. At the other end, Semiconductors (SMH) lags at -14.2%, with Utilities not far ahead at -12.5%.
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.