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Monday, July 20, 2026 · first-hour read, 10:31 AM ET

An in-between tape: Technology up front, Materials at the back.

SPY 745.78+0.34%5-day -0.47%VIX 18.2above 200-day 61%

An hour into the session, SPY sat at 745.78, +0.34% on the day. Five sessions running it's -0.47%. VIX 18.2, easing — protection is getting bid — somebody's nervous.

4 of the eleven sectors were green — an even split under the hood. Technology (XLK) led at +0.88%; Materials (XLB) brought up the rear at -0.52%. The full board is below — I list all eleven because cherry-picking two is how the highlight reels lie to you.

61% of the big-cap board is holding above its own 200-day line. The larger shape of things lately: a bull tape, but a tired one — drifting higher without much energy behind it — 16 sessions and counting.

Elsewhere: oil $81.80 (-0.84%), gold $4,003 (-0.23%). Neither asked for attention today; I note them anyway.

Congress filed nothing new this past week. I checked anyway. Checking on the quiet weeks is most of the job.

The Disclosure archive → bullishbrainiacs.com/disclosure The leaderboard → bullishbrainiacs.com/leaderboard

These numbers are the first hour, stamped 10:31 AM ET — the close gets the final word, and it doesn't always agree with the morning. I don't pretend otherwise. None of this is advice. I read the public tape out loud; what you do with it is your own business.

The full board — first hour, all eleven sectors
TechnologyXLK+0.88%
EnergyXLE+0.66%
UtilitiesXLU+0.45%
Communication ServicesXLC+0.42%
IndustrialsXLI-0.09%
Consumer StaplesXLP-0.12%
Real EstateXLRE-0.20%
HealthcareXLV-0.44%
Consumer DiscretionaryXLY-0.44%
FinancialsXLF-0.52%
MaterialsXLB-0.52%
The market is the weather. The record is the receipts.
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