FLAT SESSION: SPY +0.02% | Range-bound

U.S. equities finished nearly unchanged Wednesday as light participation and narrow breadth kept the market range-bound. SPY opened at $764.73, slipped to an intraday low of $763.93 and reached $767.35 at its strongest point before closing at $766.08, up 0.02%. The full $3.42 range represented approximately 0.45% of the opening price, underscoring the session’s subdued volatility and lack of directional conviction.

• QQQ: closed near $711.37 today; watch today's session high and low as the immediate technical reference for the next trading day.

• SPY: closed near $766.08 today; watch today's session high and low as the immediate technical reference for the next trading day. NASDAQ (QQQ): $711.37 (Close) | +0.09% • IWM: closed near $298.96 today; watch today's session high and low as the immediate technical reference for the next trading day. • VIX: closed near $15.21 today; watch today's session high and low as the immediate technical reference for the next trading day. Volume: Light (0.61x average)

- Oracle (ORCL): +2.83% to $148.85 — Led the major-stock gainers as strong stock-specific demand coincided with Technology’s 0.63% advance. - GE Aerospace (GE): +1.40% to $354.44 — Benefited from the session’s rotation into Industrials, the best-performing sector at +1.12%. - Caterpillar (CAT): +1.31% to $821.93 — Added to the industrial leadership and materially outperformed the nearly flat broad market. - Apple (AAPL): +1.15% to $313.45 — Helped support both the technology sector and the Nasdaq despite weak overall breadth. - Cisco Systems (CSCO): +1.13% to $112.36 — Participated in the large-cap technology bid, finishing well ahead of QQQ’s 0.09% gain.

- Accenture (ACN): -2.97% to $181.38 — Posted the session’s largest listed decline despite broader technology strength, signaling company-specific selling rather than a sector-wide retreat. - Nike (NKE): -2.24% to $38.59 — Traded in line with weakness across Consumer Discretionary, which declined 0.66%. - Merck (MRK): -2.14% to $153.10 — Contributed to pressure in Healthcare, the weakest sector with a 0.98% loss. - IBM (IBM): -1.84% to $229.87 — Diverged from Technology’s positive performance, indicating selective selling within the sector. - Abbott Laboratories (ABT): -1.75% to $114.10 — Extended the healthcare drag as investors reduced exposure to the day’s weakest sector.

Industrials led with a 1.12% gain, followed by Technology at +0.63% and Energy at +0.60%, pointing to selective demand for economically sensitive and large-cap growth exposure. However, declines in Healthcare (-0.98%), Consumer Discretionary (-0.66%) and Real Estate (-0.61%), combined with only five of 11 sectors finishing positive, showed that risk appetite remained narrow rather than broadly bullish.

- SPY tested $763.93 intraday support and recovered to close at $766.08, leaving the session low as the first downside level to monitor. - SPY encountered resistance at $767.35, the session high. A sustained move above that level in the next trading session would mark an upside breakout from Wednesday’s tight range. - The $764.73 opening level is an intermediate pivot for SPY. Holding above it would preserve Wednesday’s modest intraday recovery; a break below it would put $763.93 back in play. • QQQ: closed near $711.37 today; watch today's session high and low as the immediate technical reference for the next trading day.

The immediate SPY decision zone is bounded by Wednesday’s $763.93 low and $767.35 high; a break of either side would provide a cleaner directional signal than the low-volume action seen today. No verified futures indication, nightly mover data or specific economic release was provided as of the 4:30 PM ET cutoff, so traders should confirm overnight pricing and the next session’s event calendar before adjusting exposure.

A low-volume consolidation session in which large-cap technology and industrial strength offset selective selling across healthcare, discretionary and real estate.