$SPY the lower gaps are at
$725-728
$712-714.7
$703
$660-670
Higher up we need to hold $743.5-745 with time. Not a wick, not a 1 day move.
I don’t think the market is ready yet. Scalping yes, holds no.
I can’t shake the feeling that selling your high-beta tech stocks already down 40-70%, to buy low/no growth consumer names at 30-100x earnings…might not be so smart, either.
$SPX — THE JULY LOW DECIDES IT.
7,314.
Bullish SMT with $NDX is holding there.
Hold it → a multi-month BOTTOM.
Then a run to new highs.
Lose it → SMT is invalid.
Then likely another 2–3% lower.