Tech got wrecked (-2.66%) but the index barely moved. Defensive rotation is the story. Here's what I traded, what I missed, and what I'm stalking tomorrow.
SPX closed essentially unchanged but the tape underneath it was anything but flat — tech dumped nearly 3%, health ripped 2.56%, materials added 1.90%, and financials tacked on 1.50%. Classic late-cycle rotation. Index camouflage hiding real sector pain.
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I grade today a B-. I had HEALTH exposure through a small XLV position that worked — that was right. I had zero tech shorts on, which was a miss given the -2.66% move. I left money on the table there. Gold and silver both added on the DXY dropping to 100.9, which is exactly what I expected. Those long bullion positions are sitting well.
BTC holding $61K while Crypto F&G is at Extreme Fear is the most interesting setup on the board right now. I'm not adding aggressively, but I am not selling a single sat. My day trade sizing stays at 75% normal until SPX picks a real direction off $7,450. Tomorrow morning I'm focused on WBX at the open — if it gaps flat or slightly down and builds a base, I'm in small.