SPY closed at $757.67, flirting with its all-time high, while gold edged up to $372.11 – a three-month high — suggesting continued safe haven demand. The 10-year Treasury yield held steady at 4.74%, providing some stability for growth stocks as earnings season heats up.
Energy (XLE) is showing relative strength, up nearly 5% over the last five days while crude has been flat — a clear divergence from broader market sentiment and suggests accumulation ahead of OPEC meetings. Consumer Staples (XLP) continues to lag, down -1.2% in the same period as investors favor cyclicality into earnings reports.
Watching AMZN (new highs — momentum confirmation), TMO (approaching resistance at $587.49 — breakout potential) and HPE (broke $51 last week — follow-through watch).
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