SPX Holds But Tech Gets Hit Hard — BTC Quietly Rips
Tech dropped 1.59% and dragged the tape while Bitcoin added nearly 3% unannounced. Here's how the session played out and what I'm carrying into Monday.
Live tape — what this brief is about
Rough tape for most portfolios today. SPX ended down only -0.39% but that number is misleading — tech got wrecked (-1.59%), industrials and utilities both dropped over 1.4%, and the only green sectors were health (+1.43%) and comms (+2.22%). The Fear & Greed Index sitting at 31 (Fear) is not a buying signal yet, but it's getting interesting.
On my radar
- WPRT $1.96 — RVOL 5.1x, tight float at 19M, bouncing off the 200 SMA with a catalyst. This is the cleanest setup from today's scan. I want to see it consolidate above $1.85 overnight and push through $2.10 on volume tomorrow.
- RUM $7.99 — RVOL 7.3x, up 11.37%. Float is heavy at 399M so I'm not chasing, but if momentum carries into the open and it clears $8.25 with volume I'll take a small position.
- ALLT $8.37 — RVOL 7.5x, 200 SMA bounce, 48.9M float. Much cleaner float than RUM. $8.00 is my stop if I enter tomorrow.
Levels I care about
- SPX $7,600 is the line I'm watching — we closed at $7,626 and one bad open takes us there fast.
- Gold $4,300 — dropped 1.74% today and the dollar ticked up. If gold loses $4,300 I'm trimming my bullion position, not holding through a DXY squeeze.
- BTC $78,000 — held and then some. Crypto Fear & Greed at 57 (Greed) while equities fear. That divergence is telling me something.
How I'm positioned
I'll grade today a C+. I was right on BTC strength but wrong to expect gold to hold — the DXY bounce at 99.44 hit my bullion thesis harder than I modeled. Day trades were small and I avoided the tech wreckage, so no real damage there. Holding BTC through any dip to $76,500, stop firm. Gold I'm watching closely — one more down day and I trim 25% of the position. Tomorrow I'm scanning the open for WPRT continuation above $2.00 and keeping overall size small until SPX shows me a direction off $7,600.
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