SPX slipping, gold fading, and 10Y yield climbing through 4.6% — the morning rotation into utilities and health tells you exactly what the smart money is doing. Here's what I'm watching into power hour.
Morning opened soft and stayed soft. The tell was immediate — utilities up +0.66%, health up +0.19%, everything cyclical leaking. That's not a dip-buying tape, that's a rotation-to-safety tape, and I'm trading it accordingly.
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Crypto Fear & Greed sitting at 29 (Fear) while BTC is only down -0.38% — that divergence is actually constructive for crypto longer-term, but I'm not adding here. Gold I'm holding with a stop at $4,460, no add-ons until price stabilizes. Day trade sizing is at 50% normal risk given the indecisive tape. Into power hour I'm watching VOR at the $14.80 level for a long entry, and if SPX loses $7,400 with conviction I'll take a small SPY put position targeting $7,360 before close.