Crude Cratered, Gold Held, and SANG Ran 36% Without Me
SPX flatlined while crude got crushed 3.7% and the 10Y yield pushed to 5.255%. The scanner flagged SANG at $4.90 — here's what I'm doing with it tomorrow.
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Live tape — what this brief is about
Flat close on the surface, ugly underneath. The 10Y sitting at 5.255% while the stock market Fear & Greed prints 32 (Fear) tells you exactly what's suppressing this tape — and yet utilities ripped +1.26% while energy got taken to the woodshed. That's a rate-defensive rotation, not a bull market.
On my radar
- SANG $4.90 — +36.49%, RVOL 42.4x, float 33.3M. I missed the initial move and I'm not chasing it into the close. Tomorrow I want to see a measured pullback to $4.20–$4.40 with volume drying up, then a reclaim. Above $4.60 on the retest I'm in small.
- IOVA $14.05 — +27.89% on a catalyst but RVOL only 2.2x on a 446.5M float. That float kills the trade for me. Pass unless it gaps up again tomorrow with RVOL clearing 5x.
- PWP $16.37 — +11.82%, RVOL 6.5x, float 94.8M. Cleaner setup. $15.80 is my line — holds that and I'll watch the open.
Levels I care about
- SPX $7,674 is treading water. $7,620 is the level I'm watching — break below that and I expect a flush toward $7,550.
- Gold $4,203 continues to grind. I'm holding through noise; $4,150 is where I'd reconsider sizing.
- Crude $89.19 — a 3.68% single-session drop is not noise. Energy names are not safe longs right now. Staying away from XLE until crude stabilizes above $91.
- The 10Y at 5.255% is the real story. Every uptick here is a headwind for growth and REITs regardless of what the index prints.
How I'm positioned
Gold long is working — up on the position and holding with a stop at $4,150. Bitcoin at $83,621 with Crypto Fear & Greed at 73 (Greed) is a divergence I don't love — stock market is fearful, crypto is greedy. I'm not adding BTC here. My crude short from yesterday covered at the open for a clean win. No new energy exposure.
Day trade grade today: C+. SANG ran without me and I had no excuse not to be watching it pre-market. Tomorrow I'm setting the alert at $4.60 tonight and not missing the second setup.
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Not financial advice. Do your own research.