Decisive rotation: Software is +15.2% vs SPY over three months while Real Estate trails at -10.7%.
Elsewhere, SPY's dealer book reads long gamma at $12.0M, while 59% of S&P names hold their 200-day.
The S&P 500 finished the session at 7,744. Breadth reads 59% of members above the 200-day average and 58% above the 50-day. SPY itself holds 6.3% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 19 to 11. The VIX sits at 16.9 — unremarkable.
On the options side, net GEX on SPY sits at $12.0M across tracked expiries — a dealer-long-gamma read on delayed CBOE data. The call wall stands at $775 with the put wall at $769. Options price a move of roughly ±$5.26 on SPY (±0.68%) into the 2026-10-29 expiry. For QQQ the same horizon prices ±1.12%.
Sector-wise, the strongest three-month showing against SPY comes from Software (IGV) at +15.2%, ahead of Energy at +11.5%. At the other end, Real Estate (XLRE) lags at -10.7%, with Industrials not far ahead at -9.3%.
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.