Tech Carrying the Tape Into Power Hour — But Fear Index Says Stay Sharp
SPX is up 1.10% and tech is doing the heavy lifting at +2.25%, but the Fear & Greed Index at 30 says this rally isn't fully trusted yet. Here's what's setting up into the close.
Live tape — what this brief is about
Morning came in stronger than the overnight futures implied. Tech exploded out of the gate and hasn't given much back — that's a tape character shift worth respecting, even with the Fear & Greed Index sitting at 30 (Fear).
On my radar
- FEAM $1.76 — RVOL 14.5x, float 41.5M, up nearly 40%. This is the cleanest low-float mover on my screen. Watching for a midday flag near $1.65–$1.70 — that's my buy trigger for a power hour continuation push toward $2.00.
- GLOO $4.07 — RVOL 15.9x, float 89.1M, catalyst-driven. Bigger float means choppier action, but the volume is real. I want $3.90 to hold as support before I touch it.
- LUXE $8.81 — RVOL 13.2x, float 137.3M. Float is a little heavy for my taste, but a 23% move with that RVOL demands attention. $8.50 is the line — below that it's a fade, not a follow.
Levels I care about
- SPX $7,600 is the number I'm watching on any pullback — lose that and power hour gets ugly fast.
- Gold $4,404 is holding its bid with silver up 2.14% — the metals complex is quietly strong and I'm not fading it.
- Crude $101.20 dropping while energy equities are basically flat tells me the sector is exhausted. Staying out of energy trades today.
- 10Y yield at 4.945% pulling back is the real story behind the tech rally — watch for any reversal there before the close.
How I'm positioned
I took half-size into FEAM this morning near $1.68 and I'm still holding. Stop is $1.58. The broader market is giving me confidence but the Fear & Greed at 30 keeps me from going full-size — this rally doesn't have full conviction behind it yet. COMMS going red while tech rips is a yellow flag I'm not ignoring. Into the last hour, I'm watching FEAM for a continuation break above $1.85 to add the second half. If SPX fades below $7,600 before 3pm, I'm cutting all intraday exposure and going flat into the close.
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