Tech Carries the Tape Into Power Hour, Energy Gets Crushed
SPX is grinding higher but the internals are split — tech is the only sector with real conviction. Crude's -3.75% drop is the story nobody's talking about heading into power hour.
Morning was a tale of two markets. Tech ripped, energy got dumped, and everything else is basically flat. SPX sitting at +0.27% looks calm on the surface but the rotation underneath is aggressive.
On my radar
- BMEA $1.59 — RVOL 20.7x, float 72.3M. This is the only name the scanner surfaced with real volume conviction. Want to see it consolidate above $1.50 and compress before any power hour continuation. Below $1.45 and I'm done with it.
- XPEV $11.14 — down 8.61% on RVOL 3.9x. Catalyst-driven flush. I'm watching $10.80 as the next level down — if it can't reclaim $11.40 into 2pm, this is a short into the close.
- OTLY $15.89 — RVOL only 2.8x on a 638M float. This move doesn't interest me. Too heavy, too thin on volume conviction.
Levels I care about
- SPX $7,630 is my line in the sand — we pull back there and I'm treating today as a failed grind, not a dip to buy.
- Crude $81.82 breaking down -3.75% is a real macro signal. Energy equities are lagging the drop right now. XLE spread to crude is going to close — either crude bounces or energy stocks catch up to the downside.
- Gold $4,709 holding steady while the dollar drifts lower. No reason to touch my bullion position.
How I'm positioned
Fear & Greed at 58 (Greed) — not extreme enough to fade the tape, not strong enough to chase. I'm holding my gold and BTC core positions untouched. Day trade sizing stays at 75% normal risk until I see SPX commit above $7,700 or reject hard at it. BMEA is my only live watchlist name with a real trigger. I'm setting an alert at $1.50 and if it holds into 2:30pm with volume drying up, I'll take a small long with a stop at $1.42. Energy is the short story of the day — I'm not touching XLE long.