Equities barely moved while gold and silver bled 1%+. RMAX exploded 21% on massive RVOL. Here's how the day actually played out.
I'd grade today a C+. SPX closed at $7,177, essentially flat at +0.17%, and the sector rotation told the real story — Finance led at +0.83% while Consumer and REIT got hit hardest. Nothing screamed conviction either direction. The Fear & Greed Index sitting at 67 (Greed) with a 10Y yield pushing 4.336% makes me cautious. That yield creep is the one thing I keep coming back to. Equities shrugging it off right now doesn't mean they will next week.
The real pain today came from my bullion positions. Gold dropped to $4,693 (-1%) and silver followed at $75.43 (-1.29%). I'm still long both with meaningful size, and I'm not selling. This looks like a one-day unwind tied to oil ripping +1.85% and traders rotating into energy. My Bitcoin at $76,714 (-2.49%) stings more — crypto Fear & Greed at 47 is Neutral, not panic, so I'm not reading this as a breakdown. I'm holding and watching the $74K level as my line in the sand.
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I'm watching whether gold reclaims $4,750 on the open or continues fading. If crude holds above $95, energy stays in play. For small-caps, I want another RMAX-type setup — sub-25M float, catalyst, RVOL above 10x at the open. The scanner zeroed qualified names today, which tells me the real opportunities are coming pre-market.