SPX Breaks Hard, Energy Wins the Day, Extreme Fear at 18
Tech cratered nearly 3% while energy ripped. The Fear & Greed Index hit 18 — Extreme Fear — and my scanner found nothing clean on the long side all session.
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Live tape — what this brief is about
Tech led everything lower today and the Fear & Greed Index closing at 18 (Extreme Fear) tells you everything about sentiment. SPX dropped 1.09% to $7,659.94, the 10Y yield pushed to 5.098%, and the rotation into energy and utilities was real — but it was defensive, not bullish.
On my radar
- SITC $3.46 — +15.12%, RVOL 4.3x, float 52.5M. Missed this one today. Watching for a morning pullback to $3.10–$3.20 with volume confirmation before I touch it.
- TLK $11.21 — down 12.29%, RVOL 3.7x. Catalyst-driven flush. If it opens weak tomorrow under $11.00 with RVOL staying elevated, I'll look at a short continuation toward $10.40.
Levels I care about
- SPX $7,600 is the line I'm defending tomorrow — lose that and I think we see $7,520 fast with this sentiment backdrop.
- Gold $4,190 holding up fine. $4,150 is my stop on my bullion position. Above that, I'm comfortable.
- Crude $98.90 is a problem for consumer discretionary — CONSUM already down 0.82% today and this spread keeps widening.
- 10Y Yield 5.10% is the wall. If we close above it tomorrow, equities will feel it in a serious way.
How I'm positioned
Scanner pulled zero qualifying longs out of 344 tickers scanned. That's the tape telling me something. I stayed mostly flat on new day trades today — right call. Existing gold position is sitting fine, up on the week. BTC at $81,537 with Crypto Fear & Greed at 63 (Greed) is a weird divergence from equity fear — I'm not adding here, just holding my core position with a stop at $78,000.
Tomorrow I'm watching the open for SPX behavior at $7,620–$7,640. If energy continues and tech can't bounce, I'm sizing down further and letting cash be the position.
Reader takes
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Not financial advice. Do your own research.