SPY closed at $725.43, clinging to gains from a week ago, while gold trades at $375.09 – a 90-day high suggesting continued safe haven demand. The 10-year yield is steady at 4.54%, indicating a pause in the recent rate-move narrative and providing a backdrop for risk appetite.
Semiconductors (SMH) are leading the charge, showing relative strength amidst earnings season. Both LGND and KLAC are making new highs, suggesting continued momentum in the sector. Health Care (XLV) is also showing bullish signals, outperforming the broader market as investors seek defensive positioning.
We're watching FTNT (broke $136 last week — momentum confirmation), SNDK (earnings tonight — key semi read-through), INDV (bouncing from support — potential mean reversion play), and KLAC (new highs — continuation momentum).
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