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The market continues to hold a constructive posture, and we are maintaining the SPY ranking at +30 (Slightly Bullish) this week. From a big-picture standpoint, this remains a healthy market environment: price is near all-time highs, structure has not broken down, and the index is digesting a breakout rather than failing one. However, the more notable story beneath the surface is the growing divergence between SPY and RSP, as the equal-weighted index continues to carry more momentum than the cap-weighted index (a rotation-driven dynamic that speaks directly to leadership and participation as we enter Week 2 of earnings season).