XLE Hits Another All-Time High as Energy and India Lead While Healthcare and Semis Face Distribution by John Salama, CMT

XLE printed another All-Time High alongside MAGS on a tape where healthcare and industrials absorbed distribution and SOXX shed 9% over five days, energy and mega-cap growth making history while the semiconductor complex digests its extraordinary 52-week run in the most significant near-term pullback of the year. With SPY pinned between a $772 put wall at 46k OI below and a $785 call wall at 63k OI above with only 3 DTE to October expiration, the gamma structure is tightening into a pinning environment that resolves Friday unless a catalyst breaks the range.1_Qnetic_Partnership_1200x800_005