SPX is flat but the internals are telling a different story. Utilities and Industrials are leading while Tech bleeds — and one scanner name is printing volume I can't ignore.
The morning session was basically a head-fake. SPX opened with some energy, couldn't build on it, and has been grinding sideways ever since — down 0.06% at $7,133.97 as I write this. But the flat index number is hiding real rotation. UTIL +2.40%, INDUST +1.98%, REIT +1.00% — that's defensive money moving in hard. Tech is off 0.71% and Finance is leaking. This isn't a risk-on tape. The Fear & Greed Index sitting at 69 (Greed) feels completely disconnected from what's actually happening under the hood.
My scanner flagged zero qualifiers by its strict criteria — but the top long setups are still worth knowing about. NMAX is the name of the day: $9.24, up +26.92% with RVOL at 37.6x on a 129M float. That's a real move with a real catalyst. I don't chase something 27% extended into midday without a clean pullback level — I'm watching $8.50 as the first area where I'd consider an entry if it consolidates and holds.
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I'm not forcing anything in SPX today. The rotation into defensives with yields pulling back to 4.292% and crude lifting to $94.07 is an interesting macro setup, but power hour in a flat-index environment with greed elevated is not where I want to be swinging blind. I'm focused on MX and keeping my size small.