Software leads a split tape — 28 points clear of Utilities on 3-month relative strength.
SPY's dealer book reads long gamma at $36.3M. Meanwhile, 46% of S&P names hold their 200-day.
The S&P 500 finished the session at 7,819. Under the surface, 46% of index members are above their 200-day moving average and 28% 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 14 to 5. The VIX sits at 15.0 — unremarkable.
On the options side, net GEX on SPY sits at $36.3M across tracked expiries — a dealer-long-gamma read on delayed CBOE data. The call wall stands at $779 with the put wall at $775. Into the 2026-10-07 expiry, the straddle implies a SPY move of about ±$3.1, or ±0.4%. For QQQ the same horizon prices ±0.58%.
Across sectors, Software (IGV) leads on three-month relative strength versus SPY at +15.0%, with Energy next at +9.7%. At the other end, Utilities (XLU) lags at -13.2%, with Real Estate not far ahead at -10.9%.
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.