The morning session sold off broad but oil is running and one small-cap is printing 57% with 53x relative volume. Here's what I'm watching into power hour.
The tape character shifted early. We opened with the SPX looking tired and it confirmed that — down -0.42% with breadth skewed negative across most sectors. Materials getting hit hardest at -1.19%, Consumer Discretionary dragging at -0.76%, Industrials soft. The only real green on the board is Energy at +0.82%, and crude is the reason — $105.42 with a +3.41% move. That's not noise. I added to my energy exposure on the morning dip and I'm holding into power hour.
Gold getting crushed at -2.16% and silver worse at -3.51% while the DXY creeps up to 98.42 and the 10Y yield climbs to 4.438% — that's the macro story today. Dollar strength is pressuring metals hard. I'm not touching my positions but I'm not adding either. This isn't the entry.
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CNN Fear & Greed sitting at 64 (Greed) which tells me there's still complacency in this market even with today's softness. That's the part that keeps me disciplined on size. I'm playing MDV small, holding energy, and watching Bitcoin — $79,758 with crypto Fear at 40 is actually a setup I like building here.