Highlights
- Risk Gauge nears “Risk On” while the S&P flounders in monthly resistance; even good trends don’t move straight up, so a near‑term stall is reasonable.
- A normal ~3% pullback toward SPX ~6950 would be healthy if orderly and trend‑respecting.
- We remain roughly 100% net long but with selective short exposure; plentiful short ideas suggest conditions aren’t yet “prime time” bull, despite improving signals.
- A “sea of red, good guy day” shows leaders outperforming today amid broad. . .
