FLAT SESSION: SPY -0.22% | Range-bound

U.S. equities finished Friday’s session mixed to lower as selective selling in semiconductors and smaller companies outweighed strength in consumer and communication-services names. SPY opened at $771.84 and traded within a $768.31-$775.29 range before closing at $769.38, down 0.22%. The ETF reached $775.29 at its strongest point but failed to sustain the advance, finishing $5.91 below that high and only $1.07 above the session low.

• QQQ: closed near $716.43 today; watch today's session high and low as the immediate technical reference for the next trading day.

• SPY: closed near $769.38 today; watch today's session high and low as the immediate technical reference for the next trading day. NASDAQ (QQQ): $716.43 (Close) | -0.65% • IWM: closed near $295.76 today; watch today's session high and low as the immediate technical reference for the next trading day. • VIX: closed near $14.43 today; watch today's session high and low as the immediate technical reference for the next trading day. Volume: Normal (0.87x average)

- AMZN: +3.97% to $266.43 — Led the major gainers as buying concentrated in consumer-discretionary growth; the move helped XLY advance 1.15%. - NKE: +3.02% to $39.60 — Benefited from the session’s rotation into consumer-discretionary shares despite broader weakness in small caps and technology. - MCD: +1.90% to $265.01 — Drew steady demand as traders favored established consumer franchises during an otherwise low-conviction session. - GOOGL: +1.74% to $346.59 — Supported the 1.40% gain in Communication Services, the strongest-performing sector of the day. - MSFT: +1.68% to $513.53 — Outperformed despite XLK’s 1.53% decline, providing an important counterweight to sharp semiconductor losses.

- NVDA: -4.57% to $217.55 — Led the downside as aggressive selling in the semiconductor complex drove technology to the bottom of the sector table. - TXN: -2.96% to $258.64 — Declined alongside the broader chip group, reinforcing the session’s rotation away from semiconductor exposure. - INTC: -2.85% to $89.47 — Participated in the industry-wide pullback as traders reduced technology risk. • QQQ: closed near $716.43 today; watch today's session high and low as the immediate technical reference for the next trading day. - ABT: -2.20% to $111.59 — Experienced stock-specific selling and underperformed the broader market, which declined only modestly at the large-cap level.

Communication Services gained 1.40%, Consumer Discretionary rose 1.15%, and Energy added 0.63%, showing that capital remained available for select growth and cyclical exposures. However, Technology’s 1.53% decline—along with losses of 1.04% in Utilities and 0.95% in Industrials—left only five of 11 sectors positive, signaling narrow risk appetite rather than broad accumulation.

Leading Sectors: Communication Services, Consumer Discretionary, Energy Lagging Sectors: Technology, Utilities, Industrials

- SPY tested resistance at $775.29 but closed at $769.38, leaving a $5.91 rejection from the session high; $775.29 is the first upside level to clear next session. - The $768.31 session low is immediate SPY support. The close just $1.07 above that level leaves the index vulnerable to a downside range break if $768.31 fails. - SPY’s $771.84 opening price is the near-term pivot. A recovery above $771.84 would improve momentum, while continued trading below it would preserve Friday’s weak intraday tone. • QQQ: closed near $716.43 today; watch today's session high and low as the immediate technical reference for the next trading day.

• SPY: closed near $769.38 today; watch today's session high and low as the immediate technical reference for the next trading day.

A low-volume, range-bound distribution session in which selective semiconductor and small-cap selling outweighed narrow leadership in communication services and consumer discretionary.