SPY closed at $745.76, and QQQ at $725.17, while gold edged higher to $372.95 – a 90-day high – suggesting continued safe-haven demand despite the risk-on tone. The 10-year yield held steady at 4.37%, providing a stable backdrop for equities as earnings season kicks into gear.
Health Care (XLV) is showing relative strength, up 1.8% over the last five days, driven by positive clinical trial data and defensive positioning. Industrials (XLI) are also leading, benefitting from infrastructure spending and a resilient economy. These sectors are outperforming significantly, suggesting a flight to quality and value as we enter a busier earnings week.
Watching LIN (making new highs — momentum chase), CRDO (earnings tonight — sector bellwether), and RELY (broke $23 — confirmation signal). Also, keep an eye on LGND and KRYS, both making new highs and showing strong momentum.
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