SPX is pushing through $7,500 on tech strength, but gold and silver are getting hammered overnight — that divergence tells a story. Here's what I'm watching at the open.
SPX is sitting at $7,501 pre-market and tech is the engine, up 1.5% — this is the cleanest tape we've had in weeks. But gold down 2.77% and silver absolutely crushed at -7.72% is not a nothing event. When metals sell off that hard while crude rips 3.25%, I'm watching for rotation out of safe havens and into energy. The Fear & Greed Index at 65 (Greed) tells me this rally has legs but also that complacency is creeping in.
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I trimmed 20% of my gold position pre-market — that silver drop is a leading indicator and I'm not holding through a potential metals unwind. Still long core gold with a stop at $4,490. BTC at $80,332 with Crypto Fear & Greed at 43 (Fear) — I'm not adding here, but I'm not selling either. Holding my BTC position flat.
On the day-trade side, LESL is my top focus at the open. I'm watching the first 5-minute candle and will only enter long if volume confirms a hold above $3.20. Sizing at 75% of normal given the greed reading on the tape. Today's last-hour action on SPX relative to $7,500 will tell me whether I add to index exposure or stay put into the weekend.