https://youtu.be/n8CDtxhNIXE Quadruple witching came and went today. The S&P 500 finished the week dead unchanged. The story sits in the bond market instead. The 10-year yield is parked at 5% and setting up to break higher. I’ll be watching that all weekend. When the bonds break, a long list of other asset classes gets dragged into it. Start with where we’ve been. We’ve traded inside the same volatility box since May 4th. Five months of pinging back and forth. The futures rolled from September to December this week. The new contract sits about 68 points higher, so the box moved up with it. Center of the range now sits near 7550. A selloff into that level next week means nothing to me. A push above 7750 gives a rally real legs. Today handed you another rotation session. Financials opened lower and rallied straight back, and over 80 stocks were trading

https://youtu.be/N2XfS_D4xWM Blake Young stripped the overnight session out of today’s tape. The S&P 500 moved 0% from the cash open.Every bit of that recovery landed while American traders slept. This wasn’t an audience participation move.Technology ran 2% on the day. The index still finished flat once you measure from the 9:30 candle forward.Blake traced the buying to the dollar. Foreign capital converted euros, yen, and pounds into US equities overnight.The dollar broke out of a double bottom and now targets 100.61. It closed today with the exact same strength it carried yesterday.Equities fall when the dollar climbs. That overnight bid papered over a market still rolling over underneath.Look at the quarter instead of the session. Only communications, healthcare, and energy sit above the S&P 500 average over the last three months.Half the sectors sit below zero. Blake reads that as a temporary pullback, and he’s getting ready for the next

The Fed raised 25 basis points and gave no forward guidance at all. Risk in this market went up after that announcement. One number proves it. The SPX priced a $128 expected move for the entire week. Monday, Tuesday, and Wednesday are already in the books. Friday’s expiration still implies plus or minus $91. Most of the week’s risk now sits inside two sessions. I started tonight’s session in the September S&P 500 futures contract. We dropped right back into the volatility box and tagged 7511 almost spot on. I call 7511 the warm fuzzy spot. Risk goes there to die. The box runs 7350 on the bottom and roughly 7700 on top. The SPX dragged us back to it. Nearly five million contracts traded there today. Tesla traded two and a half million. Nvidia traded three million. Nothing else on the board moves that kind of notional value. Plenty

https://youtu.be/R8TrsMTMi3g Gianni Di Poce caught something yesterday that barely registered anywhere else. Software outperformed semiconductors by the greatest margin in history. That happened in a single session. Gianni has been building an overweight allocation into software for months. Yesterday paid him off. He’s already looking at the next rotation, and he’s walking through the whole framework live tomorrow. Wednesday at 2 PM Eastern, Gianni opens the room for free. He shows the four conditions he checks in the Nasdaq every week, the full track record since launch with the losing trades included, and a brand new second way every Tech Timer pays. One attendee leaves with $1,000 cash, drawn live. There’s no replay. 👉 Save my seat for Wednesday at 2 PM Eastern👈 Now here’s what has him watching the Nasdaq this closely. The index has done nothing since mid May. Four months of range, and the Bollinger Bands now