Decisive rotation: Energy is +15.4% vs SPY over three months while Utilities trails at -14.2%.
Beyond the lead, SPY's dealer book reads long gamma at $18.7M; 42% of S&P names hold their 200-day.
The S&P 500 closed at 7,723. Breadth reads 42% of members above the 200-day average and 24% above the 50-day. SPY itself holds 7.1% above its own 200-day, keeping the long-term trend gate on. New 52-week lows outnumber new highs 24 to 8. Volatility is unremarkable, with the VIX at 15.3.
On the options side, net GEX on SPY sits at $18.7M across tracked expiries — a dealer-long-gamma read on delayed CBOE data. The call wall stands at $775 with the put wall at $769. Into the 2026-10-05 expiry, the straddle implies a SPY move of about ±$3.92, or ±0.51%. For QQQ the same horizon prices ±0.76%.
Sector-wise, the strongest three-month showing against SPY comes from Energy (XLE) at +15.4%, ahead of Software at +11.7%. At the other end, Utilities (XLU) lags at -14.2%, with Industrials not far ahead at -10.6%.
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.