Craig Shapiro: ES trades flat as tech leads while breadth weakens

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01.06.2026

Craig Shapiro: ES trades flat as tech leads while breadth weakens — ES flat as tech leads market

Craig Shapiro reports that ES is trading flat at 7,612, while NQ shows modest strength, up 0.59%.

He observes that overall market breadth is deteriorating, with an advance/decline ratio of 0.67 and just 56.7% of stocks above their 50-day moving average. Technology shares lead gains, with XLK up 2.5%, while consumer discretionary (XLY, down 2.04%) and utilities (XLU, down 2.32%) lag behind.

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Shapiro recently noted defensive market rotation as energy shares dropped 4.41 percent and consumer stocks led gains in a previous session. He has also highlighted the Ninja Trader Live Morning Gap Team's daily newsletter, which provides trade preparation guidance for market participants on a regular basis. The latest data follows a pattern of sector divergence seen in his earlier coverage.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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