SPX Rips 1.2% but Fear & Greed Says Nobody Believes It Yet
Tech led, crude got hit, and the scanner flagged GLOO for a 15% move with catalyst. Here's how the session graded out and what I'm stalking tomorrow.
Live tape — what this brief is about
Solid green day on the surface — SPX +1.20% to $7,642.64 — but the Fear & Greed Index sitting at 29 (Fear) while the market rips tells me this rally is climbing a wall of worry. I'll take it, but I'm not pounding the table on new longs into a tape that still smells like distribution underneath.
On my radar
- GLOO $4.70 — +15.38%, RVOL 4.9x, float 89.1M, catalyst-driven. This is the cleanest setup from today's scan. If it consolidates above $4.40 overnight and opens with volume, I'm watching for a flag break toward $5.20.
- ABSI $9.27 — +15.30%, RVOL 3.2x, float 168.8M. Bigger float makes it choppier but the momentum is real. Need to see $8.90 hold on any pre-market dip before I consider a starter.
- FLNC $7.66 — -15.36%, RVOL 5.3x, catalyst on the downside. Short-side setup if it dead-cat bounces to $8.10–$8.25 tomorrow morning — that's my entry zone for a short with a stop at $8.50.
Levels I care about
- SPX $7,600 is now support — that level needs to hold on any morning weakness or this rip looks like a one-day wonder.
- Gold $4,384 — flat on the session, which is fine. My thesis stays intact above $4,320.
- Crude $101.24 dropping while energy equities only gave back -0% means the sector is holding up better than the commodity. Watching $99.50 on crude as the next support.
How I'm positioned
Gold position is comfortable — flat today is a non-event when SPX is ripping 1.2%. I added nothing new today. My small-cap day trades were sized at half-risk given the scanner posted zero qualified tickers from 406 scanned — that's a signal in itself, and I respected it. GLOO ran without me, which stings, but I don't chase 15% moves intraday without a clean entry. Tomorrow I'm setting alerts at GLOO $4.40 and FLNC $8.10. If SPX opens flat or red, I'm sitting on hands until 10AM.
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