S&P futures are down 1.24% with tech and materials getting hit hardest. Energy is the lone bright spot, and the scanner is thin — here's how I'm navigating the open.
SPX is down 1.24% pre-market and the sector map is ugly — tech, materials, utilities, and industrials all off more than 1.5%. Energy is the only sector green at +2.36%, and that divergence is telling me something. The 10Y yield creeping to 4.597% is the culprit behind the rate-sensitive names getting punished hardest.
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Crypto Fear & Greed at 28 (Fear) while BTC is actually up 0.33% — that divergence is bullish for BTC medium-term. I'm not adding here, but I'm not selling either. Gold I'm holding through any dip to $4,540 with a hard stop at $4,510.
Stock Fear & Greed at 63 (Greed) on a red tape day is a warning sign — sentiment hasn't caught up to price action yet. Day trades are half-size until SPX shows me whether $7,350 holds or breaks. If it breaks at the open, I'm sitting on my hands and waiting for the first real bounce to fade. My one action today: if NL builds a flag above $7.20 in the first 30 minutes, I'm taking a starter position with a stop at $6.95.