SPX down nearly 1% with tech leading the carnage at -3.33%. Energy is the only real bid and power hour is setting up ugly for growth names.
Morning opened weak and got weaker. Tech is the story — down 3.33% sector-wide while energy is the lone bright spot on the back of crude ripping to $101.44 (+3.44%). The tape character has definitively shifted from the risk-on open we had last week. This is distribution.
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Fear & Greed sitting at 64 (Greed) while the tape looks like fear — that disconnect is the biggest red flag I'm watching. I closed my tech-adjacent day trade from this morning at a small loss. No shame in that. Currently long energy via a small XLE position I added at the open, stop at $88.50. Holding gold through this dip — nothing below $4,660 changes my mind. BTC at $80,195 with Crypto Fear & Greed at 49 tells me crypto has no conviction either way, so I'm sitting on my BTC stack and not adding. Into power hour I'm watching for SPX to test $7,300 — if it holds, I'll add a small SPY long. If it breaks, I'm flat everything by 3:45.