Breadth thrust: 43% of S&P names now hold the 50-day, up 9 points.
Elsewhere, Software led three-month relative strength at +13.7% with Utilities at -11.2%, while SPY's dealer book reads short gamma at −$282.4M.
The S&P 500 closed at 7,744. Breadth reads 52% of members above the 200-day average and 43% above the 50-day. SPY itself holds 6.8% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 24 to 0. The VIX sits at 16.5 — unremarkable.
On the options side, net GEX on SPY sits at −$282.4M across tracked expiries — a dealer-short-gamma read on delayed CBOE data. The call wall stands at $780 with the put wall at $772. Into the 2026-10-16 expiry, the straddle implies a SPY move of about ±$4.2, or ±0.54%. For QQQ the same horizon prices ±0.91%.
Across sectors, Software (IGV) leads on three-month relative strength versus SPY at +13.7%, with Energy next at +11.1%. Utilities (XLU) brings up the rear at -11.2%; Real Estate is next-weakest at -11.0%.
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.