Finance Analyst Report: 2026-06-02 14:56:16 ET
Signal Alignment
SPY Direction: SPY +0.4% (3d) | Alignment: 60% (3 aligned, 2 divergent) Status: MIXED — Mixed — no clear signal consensus
| Category | Signal Says | vs SPY | Key Driver |
|---|---|---|---|
| Dark Pool | 🔴 BEARISH | ✗ DIVERGENT | DIX 0.417 below 0.42 — institutional support weakening, 0DTE PCR 0.85 call-heavy |
| Gamma | 🟢 BULLISH | ✓ ALIGNED | GEX +7.2B strong suppression |
| Credit | 🟢 BULLISH | ✓ ALIGNED | HY OAS 2.72% benign, NFCI -0.510 loose |
| Breadth | ⚪ NEUTRAL | — | Breadth 52% — mixed participation |
| Energy | ⚪ NEUTRAL | — | Energy ELEVATED — watch for transmission but not yet bearish |
| growth_expectations | ⚪ NEUTRAL | — | Copper/Gold +14.0% growth optimism · real yield 2.06% restrictive |
| news_sentiment | ⚪ NEUTRAL | — | AI news sentiment unavailable |
| Correlations | 🔴 BEARISH | ✗ DIVERGENT | SPY/VIX -0.63 elevated, SPY/DXY -0.57 elevated, SPY/TNX -0.83 extreme, SPY/Oil -0.70 stretched |
| Volatility | ⚪ NEUTRAL | — | VIX 15.8 sub-20 in contango · SKEW 142 firm · VVIX/VIX 5.71 dealer stress |
| Inflation | ⚪ NEUTRAL | — | Stagflation score 33 — moderate, watching |
| carry_risk | 🟢 BULLISH | ✓ ALIGNED | USD/JPY 5d +0.4% stable, MOVE 73 calm |
| Liquidity | ⚪ NEUTRAL | — | Liquidity Adequate |
Divergence read: Signals are mixed with no strong directional consensus against price.
Market Status
Regime: TRANSITIONAL | Score: 71/100 (Favorable, with caution) | Score reads 71 (Favorable) but regime is TRANSITIONAL — DIX below threshold (0.417) keeps full risk-on classification at bay.
Leading indicators show DIX stable at 0.417; GEX positive at 7.2B (vol-suppressing); breadth falling to 52% (participation narrowing). Lagging confirmation: VIX at 15.8 (low-fear environment); sentiment reads Neutral; seasonal pattern historically neutral.
- Sentiment: Neutral (Score: 0.13)
What Changed
- No signal changes detected.
Key Levels
- SPY: $758.93 | 50 SMA $705.62 | 200 SMA $681.74 | +0.1% from 50d | ZGL $756.9
- QQQ: $744.07 | 50 SMA $655.93 | 200 SMA $618.66 | +0.1% from 50d | ZGL $735.84
- IWM: $291.40 | 50 SMA $270.86 | 200 SMA $254.23 | +0.1% from 50d | ZGL $289.15
- VIX: 15.80 — sub-20 (low vol)
- 10Y Yield: 4.453%
Equity & Derivatives Board
| Ticker | Price | RSI(14) | IVR | ZGL | γ-Sent | PCR |
|---|---|---|---|---|---|---|
| SPY | $758.93 | 69.00 | 27.0 | $756.90 | Neutral | 0.79 |
| QQQ | $744.07 | 68.47 | 51.8 | $735.84 | Neutral | 0.72 |
| IWM | $291.40 | 54.75 | 49.7 | $289.15 | Neutral | 0.53 |
Macro Board
| Ticker | Price | RSI(14) | IVR | ZGL | γ-Sent | PCR |
|---|---|---|---|---|---|---|
| VIX | 15.80 | 36.26 | 6.5 | $10.50 | Neutral | 1.16 |
| TNX | 44.53 | 55.79 | 74.0 | - | - | - |
| GLD | $411.97 | 28.77 | 22.5 | $406.28 | Neutral | 0.60 |
| DXY | 99.24 | 66.80 | 18.3 | - | - | - |
| SLV | $67.97 | 28.81 | 28.1 | $51.60 | Neutral | 0.69 |
Dark Pool Activity
- DIX (Dark Index): 0.417
- DIX Signal: Weak
- GEX (Gamma Exposure): 7.24B
Credit Conditions
- HY OAS Spread: 2.72% (Normal)
- BBB Spread: 0.93%
- 2s10s Spread: 0.46% (Flat-ish)
Market Breadth
- Stocks Above 50-Day SMA: 52.5%
- Stocks Above 200-Day SMA: 56.4%
- Breadth Signal: Moderately Bullish
- Total Stocks Analyzed: 499
- Mag 7 Concentration: 32.1%
- Top 10 Concentration: 42.8%
Sector Breadth
| Sector | % > 50d SMA | Stocks |
|---|---|---|
| Technology | 81.5% | 0/0 |
| Real Estate | 71.4% | 0/0 |
| Industrials | 61.2% | 0/0 |
| Communication Services | 60.0% | 0/0 |
| Consumer Staples | 52.9% | 0/0 |
| Energy | 52.6% | 0/0 |
| Financials | 46.3% | 0/0 |
| Consumer Discretionary | 44.1% | 0/0 |
| Health Care | 37.0% | 0/0 |
| Materials | 33.3% | 0/0 |
| Utilities | 20.0% | 0/0 |
Energy & Commodities
- Energy Regime: ELEVATED
- WTI Crude: $93.88 (5d: +5.9%)
- Brent Crude: $96.09 | Spread: $2.21
- RBOB Gasoline: $3.1400/gal
- Heating Oil: $3.6900/gal
- 3-2-1 Crack Spread: $45.70/bbl (Very wide)
- XLE (Energy Sector): $58.12
- UNG (Nat Gas): $11.48
Correlations
| Pair | 20d Corr | Signal |
|---|---|---|
| SPY / VIX | -0.629 | elevated |
| SPY / DXY | -0.566 | elevated |
| SPY / TNX | -0.827 | extreme |
| SPY / Oil | -0.701 | stretched |
Volatility & Options
- Volatility Regime: Contango (Normal)
- MOVE Index (Bond Vol): 73.33
- VIX/MOVE Ratio: 0.22 (Normal Relationship)
- 0DTE Call Volume: 2,591,679.0
- 0DTE Put Volume: 2,192,880.0
- 0DTE Put/Call Ratio: 0.85 (Balanced 0DTE Flow)
- 0DTE Notional Dollar Volume: $363.1B
- Gamma Call Wall: $760 | Put Wall: $767 (Spot: $758.93)
CTA Trend Stack
- SMA Stack Score: 4/4 above
- Position: Above all 4 SMAs (full-stack long)
Positioning & Sentiment
- CFTC E-mini Specs Net: -165,831 contracts (Z -0.66, as of 2026-05-26)
- AAII Bull-Bear Spread: -6.3% (as of 2026-05-27)
- Squeeze Setup: none (0/4 triggers · no triggers active)
Macro Fundamentals
- 10Y Yield: 4.45%
- Yield Curve (10Y-3M): 0.84 (Normal)
- DXY: 99.24
- Growth vs Value: 0.98
- Fed Funds Rate: N/A | Next FOMC: 2026-06-10
- Rate Probabilities: Hold N/A | Cut N/A
Inflation Expectations
- 5Y Breakeven: 2.54% (Above Target)
- 10Y Breakeven: 2.39%
- 5Y5Y Forward: 2.24%
- Stagflation Risk Score: 33/100
Fed & Global Liquidity
- Fed Balance Sheet (WALCL): $6704.4B
- Treasury General Account (TGA): $830.3B
- Reverse Repo (RRP): $11.7B
- US Net Liquidity (WALCL - TGA - RRP): $5,862B
- Liquidity Regime: Adequate
- ECB Balance Sheet: ~$7,213B
- BOJ Balance Sheet: ~$4,165B
- Global Net Liquidity: $17,240B
- BTC-USD (Liquidity Proxy): $67,104 (Neutral)
Active Alerts
- [WARNING] SPY near gamma wall — expect increased resistance/support and potential pinning at key strike.
- [WARNING] Stealth risk: institutions pulling back (DIX 0.417) despite calm surface (VIX 15.8, breadth 52%).
- [WARNING] Oil-equity transmission active: SPY-Oil correlation at -0.701 with energy in ELEVATED — crude shock propagating into equities.
- [WARNING] SKEW at 142 — elevated tail-risk hedging activity.
- [WARNING] 10Y real yield at 2.06% — restrictive monetary conditions weighing on growth assets.
- [WARNING] 5Y breakeven inflation at 2.54% — inflation expectations well above Fed target.
- [WARNING] 3-2-1 crack spread at $45.70/bbl — refining margins extremely elevated, consumer fuel price pressure.
- [WARNING] Key correlation regime break detected — normal market relationships are shifting, increased unpredictability.
- [WARNING] Oil spike alert: USO at $137.53 — potential geopolitical disruption or supply shock.
- [WARNING] CTA SMA stack now 4.0/4 — systematic trend trigger fired. Above all 4 SMAs (full-stack long).
Seasonality
- Current Month: June
- Average Return: +0.29%
- Median Return: +0.46%
- Hit Rate: 60%
- Signal: Historically Neutral
Today's Events
Economic Releases:
- JOLTS Job Openings(Apr): 7.618 vs Est. 6.860 (BEAT) | Prev: 6.887
- API Weekly Crude Oil Stock: ⏳ Pending
Upcoming Calendar (30 Days)
Economic Releases:
- Gross Domestic Product (GDP): 2026-06-25
Earnings & EPS Estimates:
- JPM (2026-07-14): EPS Est. $5.39 (↑0.1% vs 30d)
- GS (2026-07-14): EPS Est. $13.74 (↓4.7% vs 30d)
- TSLA (2026-07-22): EPS Est. $0.45 (↑1.7% vs 30d)
- GOOGL (2026-07-23): EPS Est. $2.88 (↑0.4% vs 30d)
- MSFT (2026-07-29): EPS Est. $4.24 (↑0.4% vs 30d)
- META (2026-07-29): EPS Est. $7.20 (↓0.6% vs 30d)
- AAPL (2026-07-30): EPS Est. $1.90 (↑9.2% vs 30d)
- AMZN (2026-07-30): EPS Est. $1.82 (↓0.1% vs 30d)
- WMT (2026-08-20): EPS Est. $0.74 (↓0.5% vs 30d)
- NVDA (2026-08-26): EPS Est. $2.08 (↑6.5% vs 30d)
FX News Wire
Unread articles (9):
[1] Silver Price Forecast: XAG/USD struggles to regain momentum below 50-day SMA URL: https://www.fxstreet.com/news/silver-price-forecast-xag-usd-struggles-to-regain-momentum-below-50-day-sma-202606021842 Published: Tue, 02 Jun 2026 18:42:53 Z
[2] USD/CHF Price Forecast: Clears 50-day SMA as bulls target 0.7900 URL: https://www.fxstreet.com/news/usd-chf-price-forecast-clears-50-day-sma-as-bulls-target-07900-202606021839 Published: Tue, 02 Jun 2026 18:39:58 Z
[3] Indonesian Rupiah: Seen above 18,000 at end of 2026 against dollar - DBS URL: https://www.fxstreet.com/news/indonesian-rupiah-seen-above-18-000-at-end-of-2026-against-dollar-dbs-202606021832 Published: Tue, 02 Jun 2026 18:32:00 Z
[4] US President Trump signs order to gain early access to powerful AI models URL: https://www.fxstreet.com/news/us-president-trump-signs-order-to-gain-early-access-to-powerful-ai-models-202606021825 Published: Tue, 02 Jun 2026 18:25:04 Z
[5] Gold: Bearish pattern caps tight consolidation - Scotiabank URL: https://www.fxstreet.com/news/gold-bearish-pattern-caps-tight-consolidation-scotiabank-202606021823 Published: Tue, 02 Jun 2026 18:23:00 Z
[6] Pound Sterling Price News & Forecast: GBP/USD gains as softer Oil offsets resilient US jobs data URL: https://www.fxstreet.com/news/pound-sterling-price-news-forecast-gbp-usd-gains-as-softer-oil-offsets-resilient-us-jobs-data-202606021818 Published: Tue, 02 Jun 2026 18:18:04 Z
[7] Gold holds near $4,500 as US-Iran talks halt, US Dollar recovers URL: https://www.fxstreet.com/news/gold-holds-near-4-500-as-us-iran-talks-halt-us-dollar-recovers-202606021811 Published: Tue, 02 Jun 2026 18:11:38 Z
[8] Asia FX: Inflation and trade shifts shape KRW and IDR - BNY URL: https://www.fxstreet.com/news/asia-fx-inflation-and-trade-shifts-shape-krw-and-idr-bny-202606021811 Published: Tue, 02 Jun 2026 18:11:00 Z
[9] Taiwan Dollar: Growth and AI flows anchor TWD - Commerzbank URL: https://www.fxstreet.com/news/taiwan-dollar-growth-and-ai-flows-anchor-twd-commerzbank-202606021756 Published: Tue, 02 Jun 2026 17:56:00 Z
Iran War News
Updates (1):
[1] Video: Rubio briefs Senate on Iran's fractured power structure Time: 2026-06-02T18:39:24.545Z
Hormuz Strait Status
Hormuz Strait: no change since last report.
Strait of Hormuz Dashboard:
- Strait Status: RESTRICTED (since 2026-02-28, 94 days ago)
- Ships Transiting: 7 of 60 normal daily — 7.4% of normal
- Throughput: 6.0% of normal (0.6M / 10.3M DWT)
- Stranded Vessels: 341
- Oil Prices: Brent $102.75 (-3.88%)
- War Risk Insurance: EXTREME — 26.7x normal
- Tanker Rates: WS125 (+150% vs pre-crisis)
- Global Impact: 21% of world oil supply at risk; est. $2.8 billion/day economic cost