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A constructive but defensive-led tape with breadth expanding and SPY holding above all key SMAs. GMAB’s 32% blowout headlines continuation signals while defensive sectors lead; watch QQQ’s $732.50 SMA20 as the pivot for tech re-engagement tomorrow.
Key points
Regime remains constructive but defensive-led, with choppy-to-grind-higher action and breadth improving to 49.7% on the 40 SMA.
Bull 4% leads bear 4% 259 to 104, and SPY holds at $773.10, up 0.45%.
Hold strength like GMAB (up 32.0% on 4.4 relative volume), ICLR, BE and HRI; cut INTA, FTNT and CBRS rather than carry broken guidance overnight.
QQQ at $726.08 must reclaim SMA-20 at $732.50 to confirm tech is re-engaging; a rejection keeps the stance defensive.
IWM at $281.26 is pinned between SMA-200 support at $278.53 and SMA-50 resistance at $285.
See SPY in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See QQQ in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See IWM in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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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 GMAB in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See ICLR in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See BE in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See HRI in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See INTA in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See FTNT in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See CBRS in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See GNRC in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See ORCL in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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