← The Tape · all issues
Thursday, July 23, 2026 · first-hour read, 10:35 AM ET

The tape gave some back. 6 of eleven sectors ended the hour lower.

SPY 736.96-1.40%5-day -1.79%VIX 19.9above 200-day 59%

An hour into the session, SPY sat at 736.96, -1.40% on the day. Five sessions running it's -1.79%. VIX 19.9, firming — protection is getting bid — somebody's nervous.

5 of the eleven sectors were green — more red than green under the hood. Industrials (XLI) led at +1.81%; Consumer Discretionary (XLY) brought up the rear at -4.70%. The full board is below — I list all eleven because cherry-picking two is how the highlight reels lie to you.

59% 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 — 19 sessions and counting.

Elsewhere: oil $92.61 (+6.66%), gold $4,052 (-2.29%). Worth a line each, no more.

On the congressional side of the ledger: 18 buys and 30 sales disclosed in the last seven days. Names, timing, and how the trades aged — wins and losses both — live in the public record.

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

These numbers are the first hour, stamped 10:35 AM ET — the close gets the final word, and it doesn't always agree with the morning. I don't pretend otherwise. As always: observations, not advice. I point at things. The deciding is yours.

The full board — first hour, all eleven sectors
IndustrialsXLI+1.81%
EnergyXLE+1.28%
HealthcareXLV+1.25%
UtilitiesXLU+0.70%
Real EstateXLRE+0.28%
FinancialsXLF-0.65%
MaterialsXLB-1.04%
TechnologyXLK-1.24%
Consumer StaplesXLP-1.27%
Communication ServicesXLC-3.27%
Consumer DiscretionaryXLY-4.70%
Congressional ledger — last 7 daysbuys 18sells 30every filing, named →
The market is the weather. The record is the receipts.
The Disclosure →The Leaderboard →