Finance Analyst Report: 2026-06-26 22:00:26 ET
Signal Alignment
SPY Direction: SPY -0.8% (3d) | Alignment: 25% (2 aligned, 6 divergent) Status: STRONG DIVERGENCE β Strong divergence β structural signals broadly disagree with price
| Category | Signal Says | vs SPY | Key Driver |
|---|---|---|---|
| Dark Pool | π΄ BEARISH | β ALIGNED | DIX 0.438 moderate, 0DTE PCR 1.30 put-heavy |
| Gamma | π΄ BEARISH | β ALIGNED | live dealer gamma -10.8B short-gamma / vol-amplifying, flow amplifying, GEX -4.7B severe amplification |
| Breadth | π’ BULLISH | β DIVERGENT | Breadth 64% β broad participation supports rally |
| Energy | π’ BULLISH | β DIVERGENT | Energy STABLE β no macro headwind from oil |
| growth_expectations | βͺ NEUTRAL | β | Copper/Gold +8.8% growth optimism Β· real yield 2.23% restrictive |
| Correlations | π’ BULLISH | β DIVERGENT | SPY/VIX -0.88 normal, SPY/DXY -0.35 normal, SPY/TNX -0.47 elevated, SPY/Oil -0.42 elevated |
| Volatility | βͺ NEUTRAL | β | VIX 18.4 sub-20 in contango Β· SKEW 139 normal Β· VVIX/VIX 4.84 above-trend |
| Inflation | π’ BULLISH | β DIVERGENT | Stagflation score 15 β low inflation risk |
| carry_risk | π’ BULLISH | β DIVERGENT | USD/JPY 5d +0.2% stable, MOVE 67 calm |
| Liquidity | βͺ NEUTRAL | β | Liquidity Adequate, cut prob 11% β hawkish lean but no BS drain |
| Credit | π’ BULLISH | β DIVERGENT | HY OAS 2.78% moderate, NFCI -0.516 loose |
Divergence read: SPY in free-fall but breadth, energy, and correlations refuse to confirm (6 of 8 divergent) β washout exhaustion or false floor, resolution within days.
Market Status
Regime: RISK-OFF | Score: 72/100 (Favorable, with caution) | Score reads 72 (Favorable) but regime is RISK-OFF β negative GEX (-4.7B) and DIX below threshold (0.438) keeps full risk-on classification at bay. Signal-price divergence detected: 6 signals disagree with SPY's 5d trend.
Leading indicators show DIX rising to 0.438 (institutional accumulation increasing); live dealer gamma negative at -10.8B (vol-amplifying); credit spreads widening (stress building). Lagging confirmation: VIX at 18.4 (low-fear environment); seasonal pattern historically neutral.
What Changed
- No signal changes detected.
Key Levels
- SPY: $731.48 | 50 SMA $733.77 | 200 SMA $690.14 | -0.0% from 50d | ZGL $732.05
- QQQ: $705.46 | 50 SMA $701.41 | 200 SMA $631.52 | +0.0% from 50d | ZGL $707.85
- IWM: $299.16 | 50 SMA $284.00 | 200 SMA $259.22 | +0.1% from 50d | ZGL $298.86
- VIX: 18.41 β sub-20 (low vol)
- 10Y Yield: 4.372%
Equity & Derivatives Board
| Ticker | Price | RSI(14) | IVR | ZGL | Ξ³-Sent | PCR |
|---|---|---|---|---|---|---|
| SPY | $731.48 | 38.44 | 74.3 | $732.05 | Neutral | 1.17 |
| QQQ | $705.46 | 43.77 | 97.9 | $707.85 | Bearish | 3.04 |
| IWM | $299.16 | 57.07 | 69.9 | $298.86 | Neutral | 1.33 |
Macro Board
| Ticker | Price | RSI(14) | IVR | ZGL | Ξ³-Sent | PCR |
|---|---|---|---|---|---|---|
| VIX | 18.41 | 43.58 | 98.7 | $10.50 | Neutral | 0.91 |
| TNX | 43.72 | 41.45 | 33.7 | - | - | - |
| GLD | $374.90 | 28.46 | 43.0 | $361.68 | Neutral | 0.84 |
| DXY | 101.37 | 72.16 | 24.6 | - | - | - |
| SLV | $53.45 | 23.34 | 25.3 | $30.00 | Bearish | 1.88 |
Dark Pool Activity
- DIX (Dark Index): 0.438
- DIX Signal: Neutral
- GEX (Gamma Exposure): -4.68B
Credit Conditions
- HY OAS Spread: 2.78% (Normal)
- BBB Spread: 0.95%
- 2s10s Spread: 0.31% (Flat-ish)
Market Breadth
- Stocks Above 50-Day SMA: 64.5%
- Stocks Above 200-Day SMA: 65.0%
- Breadth Signal: Strong Bullish
- Total Stocks Analyzed: 498
- Mag 7 Concentration: 29.7%
- Top 10 Concentration: 39.8%
Sector Breadth
| Sector | % > 50d SMA | Stocks |
|---|---|---|
| Utilities | 90.0% | 0/0 |
| Real Estate | 82.1% | 0/0 |
| Health Care | 77.8% | 0/0 |
| Industrials | 73.1% | 0/0 |
| Consumer Staples | 70.6% | 0/0 |
| Financials | 70.1% | 0/0 |
| Materials | 66.7% | 0/0 |
| Consumer Discretionary | 59.3% | 0/0 |
| Technology | 40.0% | 0/0 |
| Energy | 31.6% | 0/0 |
| Communication Services | 15.0% | 0/0 |
Energy & Commodities
- Energy Regime: STABLE
- WTI Crude: $70.24 (5d: -6.1%)
- Brent Crude: $73.57 | Spread: $3.33
- RBOB Gasoline: $2.8500/gal
- Heating Oil: $3.1300/gal
- 3-2-1 Crack Spread: $53.38/bbl (Very wide)
- XLE (Energy Sector): $53.84
- UNG (Nat Gas): $11.87
Correlations
| Pair | 20d Corr | Signal |
|---|---|---|
| SPY / VIX | -0.882 | normal |
| SPY / DXY | -0.347 | normal |
| SPY / TNX | -0.469 | elevated |
| SPY / Oil | -0.416 | elevated |
Volatility & Options
- Volatility Regime: Contango (Normal)
- MOVE Index (Bond Vol): 66.79
- VIX/MOVE Ratio: 0.28 (Equity Vol Elevated vs Rates)
- 0DTE Call Volume: 4,258,371.0
- 0DTE Put Volume: 5,526,249.0
- 0DTE Put/Call Ratio: 1.30 (Balanced 0DTE Flow)
- 0DTE Notional Dollar Volume: $713.3B
- Gamma Call Wall: $733 | Put Wall: $725 (Spot: $731.48)
CTA Trend Stack
- SMA Stack Score: 3/4 above
- Position: Above 50,100,200d SMA(s) Β· below 20d
Positioning & Sentiment
- CFTC E-mini Specs Net: -35,448 contracts (Z +2.41, as of 2026-06-23)
- AAII Bull-Bear Spread: +8.8% (as of 2026-06-24)
- Squeeze Setup: none (1/4 triggers Β· GEX -4.7B (deep_negative))
Macro Fundamentals
- 10Y Yield: 4.37%
- Yield Curve (10Y-3M): 0.71 (Normal)
- DXY: 101.37
- Growth vs Value: 0.96
- Fed Funds Rate: 3.50-3.75% | Next FOMC: 2026-07-29
- Rate Probabilities: Hold 84.0% | Cut 11.0%
Inflation Expectations
- 5Y Breakeven: 2.23% (Near Target)
- 10Y Breakeven: 2.21%
- 5Y5Y Forward: 2.19%
- Stagflation Risk Score: 15/100
Fed & Global Liquidity
- Fed Balance Sheet (WALCL): $6735.6B
- Treasury General Account (TGA): $918.7B
- Reverse Repo (RRP): $6.4B
- US Net Liquidity (WALCL - TGA - RRP): $5,811B
- Liquidity Regime: Adequate
- ECB Balance Sheet: ~$6,970B
- BOJ Balance Sheet: ~$4,107B
- Global Net Liquidity: $16,888B
- BTC-USD (Liquidity Proxy): $59,848 (Neutral)
Active Alerts
- [WARNING] SPY near gamma wall β expect increased resistance/support and potential pinning at key strike.
- [WARNING] 10Y real yield at 2.23% β restrictive monetary conditions weighing on growth assets.
- [WARNING] 3-2-1 crack spread at $53.38/bbl β refining margins extremely elevated, consumer fuel price pressure.
- [WARNING] Oil spike alert: USO at $105.48 β potential geopolitical disruption or supply shock.
- [WARNING] GEX flipped negative to -4.7B β dealer hedging now amplifies moves.
- [INFO] GEX declined below 1.0B to -4.7B β dealer gamma cushion thinning.
- [WARNING] Regime shifted from TRANSITIONAL to RISK-OFF.
- [WARNING] SPY (731.48) dropped below ZGL (732.05) β expect amplified downside moves.
- [INFO] Screener: LAMR β confluence of 3 archetypes (conviction n/a/100, regime range_noise, calibrated mechanical_reversion hit-rate 49% (n=5951)).
- [INFO] Screener: BCO β confluence of 3 archetypes (conviction 43/100, regime range_noise, calibrated mechanical_reversion hit-rate 49% (n=5951)).
Seasonality
- Current Month: June
- Average Return: +0.11%
- Median Return: +0.46%
- Hit Rate: 55%
- Signal: Historically Neutral
Today's Events
Economic Releases:
- Goods Trade Balance(May): -105.80 vs Est. -85.00 (MISS) | Prev: -83.01
- Michigan 1-Year Inflation Expectations(Jun): 4.6% vs Est. 4.6% (INLINE) | Prev: 4.8%
- Michigan 5-Year Inflation Expectations(Jun): 3.3% vs Est. 3.4% (MISS) | Prev: 3.4%
- Michigan Consumer Expectations(Jun): 50.7 vs Est. 49.3 (BEAT) | Prev: 44.1
- Michigan Consumer Sentiment(Jun): 49.5 vs Est. 48.9 (BEAT) | Prev: 44.8
- Retail Inventories Ex Auto(May): 0.4% | Prev: 0.7%
Upcoming Calendar (30 Days)
Economic Releases:
- Employment Situation (Payrolls): 2026-07-02
- Consumer Price Index (CPI): 2026-07-14
- Producer Price Index (PPI): 2026-07-15
- Retail Sales: 2026-07-16
- Industrial Production: 2026-07-17
Earnings & EPS Estimates:
- JPM (2026-07-14): EPS Est. $5.41 (β0.3% vs 30d)
- GS (2026-07-14): EPS Est. $13.90 (β1.2% vs 30d)
- TSLA (2026-07-22): EPS Est. $0.45 (β0.2% vs 30d)
- GOOGL (2026-07-23): EPS Est. $2.87 (β0.2% vs 30d)
- MSFT (2026-07-29): EPS Est. $4.24 (β0.0% vs 30d)
- META (2026-07-29): EPS Est. $7.20
- AAPL (2026-07-30): EPS Est. $1.89
- AMZN (2026-07-30): EPS Est. $1.81 (β0.1% vs 30d)
- WMT (2026-08-20): EPS Est. $0.74 (β0.1% vs 30d)
- NVDA (2026-08-26): EPS Est. $2.08 (β6.5% vs 30d)
FX News Wire
No new articles found since last report.
Iran War News
Updates (3):
[1] CENTCOM releases footage of retaliatory strikes on Iran Time: 2026-06-27T01:51:14.290Z
[2] House Democrat says US strikes show Iran conflict not nearing end Time: 2026-06-27T01:45:52.995Z
[3] Iran says it resumed oil exports after 50-day halt, ships 16 million barrels Time: 2026-06-27T00:43:28.048Z
Hormuz Strait Status
Strait of Hormuz Dashboard:
- Strait Status: RESTRICTED (since 2026-02-28, 118 days ago)
- Ships Transiting: 5 of 60 normal daily β 8.3% of normal
- Throughput: 5.0% of normal (0.5M / 10.3M DWT)
- Stranded Vessels: 300
- Oil Prices: Brent $76.49 (-4.93%)
- War Risk Insurance: EXTREME β 26.7x normal
- Tanker Rates: WS145 (+190% vs pre-crisis)
- Global Impact: 21% of world oil supply at risk; est. $3.2 billion/day economic cost