Analytics, your call. We’d like to use analytics cookies to see which pages help. Nothing is loaded unless you accept, and the site works the same either way. Privacy policy
SPY trades green into the final hour, but breadth tells a different story as the 20-day advance/decline reading fades and bullish participation cools. The desk trims high-beta Tech, avoids the leveraged ETN washout, and leans on TMO as the only continuation name with real volume behind it. Tomorrow’s setup hinges on SPY holding $770.93 and...
Chapter by chapter
Green Tape, Cautious Breadth
SPY holds above its SMA20/50 but breadth diverges as bull% cools and QQQ/IWM lag their own SMA20s, signaling a concentrated, not broad, rally.
Hold TMO, Trim the Rest
TMO is the one name with real volume support; high-beta Tech gets trimmed, leveraged ETNs are avoided, and defensive sectors confirm the rotation.
The Binary Level for Tomorrow
AI-infrastructure headlines create speculative upside risk in Tech, but the real tell is SPY's $770.93 pivot and QQQ reclaiming $739.15, with TWLO as the software tell.
Key points
SPY sits above its SMA20/50, but breadth is diverging — 40 SMA breadth improved while 20 SMA breadth and bull% both weakened, marking a choppy rotation day.
QQQ and IWM both trade under their SMA20s, confirming the index gains are concentrated rather than broad-based.
TMO is the only continuation name with real volume behind it; high-beta Tech gets trimmed and leveraged ETNs (SMCZ, SNK, SPCQ) are avoided entirely.
Defensive sectors — Health Care, Consumer Staples, Utilities, Energy — lead, reinforcing a rotation away from Tech risk.
Tomorrow is binary: SPY holding $770.93 keeps the bull case alive with upside to $781.62; losing it tilts defensive toward $758.79, and QQQ must reclaim $739.15.
See SPY in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open SPY in WaveFinder.
See QQQ in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open QQQ in WaveFinder.
See IWM in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open IWM in WaveFinder.
See TMO in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open TMO in WaveFinder.
See SMCZ in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open SMCZ in WaveFinder.
See SNK in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open SNK in WaveFinder.
See SPCQ in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open SPCQ in WaveFinder.
See MTD in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open MTD in WaveFinder.
See HSAI in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open HSAI in WaveFinder.
See ETN in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open ETN in WaveFinder.
See AMBA in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open AMBA in WaveFinder.
See TWLO in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open TWLO in WaveFinder.
See RSPT in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
Can't reach WaveFinder right now. Your episode is still playing.
SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open RSPT in WaveFinder.