Tech got absolutely hammered overnight with a 6.66% sector wipe. Shorts are set up beautifully into the open and I'm not touching longs until SPX reclaims a key level.
Tech just had one of its ugliest single-session prints in months — down 6.66% — and the rotation into Utilities, Health, and REITs tells me this isn't a dip-buy moment, it's a risk-off rotation. SPX is off 2.64% and the tape is screaming defensive.
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Crypto Fear & Greed at 8 (Extreme Fear) while BTC is barely positive tells me crypto is hanging by a thread — I'm not adding to BTC here, just holding my core position with a mental stop on a close below $61,000. Gold I'm holding through any pullback to $4,340, no additions until the equity tape stabilizes. Day trade risk is cut to 40% of normal sizing today — I'm not a hero in a 6.6% tech drawdown. Shorting ZUMZ on the open bounce is my primary play. If SPX can't reclaim $7,420 by midday, I'll look at adding short exposure via SQQQ into the close.