SPX futures are slipping, tech is getting hit hard, but crude is surging and two small-caps are moving with serious volume. Here's exactly what I'm watching into the open.
Overnight brought a clean rotation story. Tech is down -1.69% sector-wide and that's dragging SPX toward $7,138 pre-market. Meanwhile, crude is up nearly +3.88% to $103.81 and energy is the only sector printing real green at +1.66%. The 10Y yield ticking up to 4.354% is the culprit for tech weakness — when rates move, growth names bleed. I'm not chasing any tech dip this morning until I see SPX hold above $7,100 on the open. Below that, I'm watching for a flush to $7,050 before considering any long.
The scanner didn't qualify anything clean on the long side, but a couple of names are worth tracking:
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On the macro side, Consumer Confidence data drops this morning and with the Fear & Greed sitting at 64 (Greed) on stocks, any miss could accelerate this tech selloff fast. Bitcoin at $77,163 with Crypto Fear & Greed at 26 is the more interesting chart right now — that divergence between stock greed and crypto fear doesn't last long.