Decisive rotation: Energy is +15.4% vs SPY over three months while Utilities trails at -10.2%.
Elsewhere, SPY's dealer book reads long gamma at $13.2M, while 49% of S&P names hold their 200-day.
The S&P 500 closed at 7,805. Under the surface, 49% of index members are above their 200-day moving average and 37% are above their 50-day. SPY itself holds 7.7% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 15 to 5. The VIX sits at 15.3 — unremarkable.
SPY's dealer-gamma picture reads long gamma: net GEX of $13.2M across tracked expiries (delayed CBOE data). The call wall stands at $780 with the put wall at $774. Into the 2026-10-14 expiry, the straddle implies a SPY move of about ±$4.02, or ±0.52%. For QQQ the same horizon prices ±0.86%.
Across sectors, Energy (XLE) leads on three-month relative strength versus SPY at +15.4%, with Software next at +14.6%. At the other end, Utilities (XLU) lags at -10.2%, with Industrials not far ahead at -9.1%.
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.