SPX is green but tech is bleeding and the scanner is basically empty. Here's what's actually happening under the hood heading into power hour.
SPX is up 0.36% and it looks fine on the surface — it isn't. Tech is down 1.23%, industrials are down, and the only things holding the index up are health care (+2.79%) and consumer discretionary (+1.76%). This is a defensive rotation, not a risk-on rally, and power hour will tell us whether institutions are actually buying or just rotating out of growth.
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Crypto Fear & Greed at 13 (Extreme Fear) while BTC is only up 0.88% — that divergence tells me the retail capitulation isn't done. I'm not adding BTC here. Gold and silver are my conviction plays today and I added to my silver position this morning; $59.94 on silver with no stop until it breaks $57.50. Scanner put up zero qualified names so I'm sitting on my hands for day trades until something real shows up with RVOL above 3x and a clean float. If SPX holds $7,350 into 3:30 ET I'll look at a small SPY call for power hour — but the burden of proof is on the bulls given what tech is doing today.