Tech is bleeding -2.71% and dragging the tape, but the rotation into defensives and metals is telling a different story. Here's what's setting up into power hour.
SPX is basically unchanged on the day but the internals are screaming rotation — tech down nearly 3%, health up 2.6%, utilities up 2.2%, and gold ripping +1.33% toward $4,180. The headline number is lying to you. This is a defensive tape.
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Crypto Fear & Greed sitting at 21 (Extreme Fear) while BTC is up 0.6% — that's a setup I respect. I added a small BTC position this morning at $61,400 and I'm holding it with a stop at $59,800. Gold I'm long from lower and not touching my position into a potential $4,200 breakout. On the day-trade side, 0 scanner qualifiers means I sat on my hands this morning, which was the right call. Into power hour I'm watching WBX only — half-size if it gives me the setup above $3.90. July 4th tomorrow means thin liquidity, so I'm wrapping up risk by 3:30 ET and carrying only my core bullion and BTC overnight.