Finance Analyst Report: 2026-07-21 11:32:34 ET
Signal Alignment
SPY Direction: SPY +0.7% (3d) | Alignment: 100% (7 aligned, 0 divergent) Status: STRONG ALIGNMENT β Strong alignment β structural signals confirm price direction
| Category | Signal Says | vs SPY | Key Driver |
|---|---|---|---|
| Dark Pool | βͺ NEUTRAL | β | DIX 0.437 moderate, 0DTE PCR 1.09 balanced |
| Gamma | π’ BULLISH | β ALIGNED | GEX +3.7B strong suppression |
| Breadth | π’ BULLISH | β ALIGNED | Breadth 62% β broad participation supports rally |
| Energy | π’ BULLISH | β ALIGNED | Energy STABLE β no macro headwind from oil |
| growth_expectations | βͺ NEUTRAL | β | Copper/Gold +7.4% growth optimism Β· real yield 2.31% restrictive |
| Correlations | π’ BULLISH | β ALIGNED | SPY/VIX -0.92 normal, SPY/DXY -0.46 elevated, SPY/TNX -0.36 elevated, SPY/Oil -0.51 stretched |
| Volatility | βͺ NEUTRAL | β | VIX 17.1 sub-20 in contango Β· SKEW 146 firm Β· VVIX/VIX 5.67 dealer stress |
| Inflation | π’ BULLISH | β ALIGNED | Stagflation score 18 β low inflation risk |
| carry_risk | π’ BULLISH | β ALIGNED | USD/JPY 5d +0.5% stable, MOVE 71 calm |
| Liquidity | βͺ NEUTRAL | β | Liquidity Adequate, cut prob 11% β hawkish lean but no BS drain |
| Credit | π’ BULLISH | β ALIGNED | HY OAS 2.69% benign, NFCI -0.538 loose |
Divergence read: Structural signals confirm the rally β gamma, breadth, and energy align with SPY's uptrend (100% of directional signals in agreement).
Market Status
Regime: TRANSITIONAL | Score: 83/100 (Favorable, with caution) | Score reads 83 (Favorable) but regime is TRANSITIONAL β DIX below threshold (0.437) keeps full risk-on classification at bay.
Leading indicators show DIX stable at 0.437; GEX positive at 3.7B (vol-suppressing); credit spreads tightening (risk appetite improving). Lagging confirmation: VIX at 17.1 (low-fear environment); seasonal pattern historically bullish.
Screener Action Board
- Regime: low β Calm regime β balanced board
- Longs: DTM, FSLR, IEX
- Shorts: BKH, FHI
Track Record
- AI Brief Hit Rate (decayed): 1d 15% (n=233) | 3d 38% (n=221) | 5d 33% (n=212)
- Screener Board Record: 48 closed (hit rate 52%) Β· 118 open
What Changed
- No signal changes detected.
Key Levels
- SPY: $747.86 | 50 SMA $744.55 | 200 SMA $697.07 | +0.0% from 50d | ZGL $745.17
- QQQ: $708.91 | 50 SMA $719.01 | 200 SMA $641.32 | -0.0% from 50d | ZGL $701.56
- IWM: $295.39 | 50 SMA $290.41 | 200 SMA $263.68 | +0.0% from 50d | ZGL $294.64
- VIX: 17.14 β sub-20 (low vol)
- 10Y Yield: 4.618%
Equity & Derivatives Board
| Ticker | Price | RSI(14) | IVR | ZGL | Ξ³-Sent | PCR |
|---|---|---|---|---|---|---|
| SPY | $747.86 | 51.01 | 42.0 | $745.17 | Neutral | 0.69 |
| QQQ | $708.91 | 38.57 | 67.0 | $701.56 | Neutral | 0.71 |
| IWM | $295.39 | 36.33 | 0.1 | $294.64 | Bearish | 1.63 |
Macro Board
| Ticker | Price | RSI(14) | IVR | ZGL | Ξ³-Sent | PCR |
|---|---|---|---|---|---|---|
| VIX | 17.14 | 59.82 | 37.9 | $10.50 | Neutral | 1.38 |
| TNX | 46.18 β² | 73.33 | 37.0 | - | - | - |
| GLD | $374.05 | 49.08 | 26.8 | $367.76 | Neutral | 0.61 |
| DXY | 101.12 | 48.82 | 15.1 | - | - | - |
| SLV | $53.40 | 44.09 | 17.9 | $37.58 | Neutral | 0.61 |
Dark Pool Activity
- DIX (Dark Index): 0.437
- DIX Signal: Neutral
- GEX (Gamma Exposure): 3.71B
Credit Conditions
- HY OAS Spread: 2.69% (Normal)
- BBB Spread: 0.97%
- 2s10s Spread: 0.39% (Flat-ish)
Market Breadth
- Stocks Above 50-Day SMA: 61.6%
- Stocks Above 200-Day SMA: 64.6%
- Breadth Signal: Strong Bullish
- Total Stocks Analyzed: 498
- Mag 7 Concentration: 31.6%
- Top 10 Concentration: 41.5%
Sector Breadth
| Sector | % > 50d SMA | Stocks |
|---|---|---|
| Financials | 85.1% | 0/0 |
| Health Care | 83.3% | 0/0 |
| Real Estate | 75.0% | 0/0 |
| Consumer Staples | 70.6% | 0/0 |
| Industrials | 62.7% | 0/0 |
| Energy | 57.9% | 0/0 |
| Consumer Discretionary | 54.2% | 0/0 |
| Utilities | 46.7% | 0/0 |
| Materials | 45.8% | 0/0 |
| Communication Services | 45.0% | 0/0 |
| Technology | 36.9% | 0/0 |
Energy & Commodities
- Energy Regime: STABLE
- WTI Crude: $83.96 (5d: +5.5%)
- Brent Crude: $90.87 | Spread: $6.91
- RBOB Gasoline: $3.2100/gal
- Heating Oil: $4.0000/gal
- 3-2-1 Crack Spread: $61.92/bbl (Very wide)
- XLE (Energy Sector): $58.31
- UNG (Nat Gas): $10.37
Correlations
| Pair | 20d Corr | Signal |
|---|---|---|
| SPY / VIX | -0.918 | normal |
| SPY / DXY | -0.456 | elevated |
| SPY / TNX | -0.36 | elevated |
| SPY / Oil | -0.508 | stretched |
Volatility & Options
- Volatility Regime: Contango (Normal)
- MOVE Index (Bond Vol): 70.88
- VIX/MOVE Ratio: 0.24 (Normal Relationship)
- 0DTE Call Volume: 1,722,440.0
- 0DTE Put Volume: 1,869,029.0
- 0DTE Put/Call Ratio: 1.09 (Balanced 0DTE Flow)
- 0DTE Notional Dollar Volume: $268.6B
- Gamma Call Wall: $750 | Put Wall: $740 (Spot: $747.86)
CTA Trend Stack
- SMA Stack Score: 2/4 above
- Position: Above 100,200d SMA(s) Β· below 20,50d
Positioning & Sentiment
- CFTC E-mini Specs Net: -38,938 contracts (Z +1.97, as of 2026-07-14)
- AAII Bull-Bear Spread: +12.0% (as of 2026-07-15)
- Squeeze Setup: none (0/4 triggers Β· no triggers active)
- Fragility Flags: Air Pocket none Β· Re-entry none
Macro Fundamentals
- 10Y Yield: 4.62%
- Yield Curve (10Y-3M): 0.89 (Normal)
- DXY: 101.12
- Growth vs Value: 0.95
- Fed Funds Rate: 3.50-3.75% | Next FOMC: 2026-07-29
- Rate Probabilities: Hold 84.0% | Cut 11.0%
Inflation Expectations
- 5Y Breakeven: 2.28% (Near Target)
- 10Y Breakeven: 2.25%
- 5Y5Y Forward: 2.22%
- Stagflation Risk Score: 18/100
Fed & Global Liquidity
- Fed Balance Sheet (WALCL): $6743.0B
- Treasury General Account (TGA): $756.2B
- Reverse Repo (RRP): $0.0B
- US Net Liquidity (WALCL - TGA - RRP): $5,987B
- Liquidity Regime: Adequate
- ECB Balance Sheet: ~$6,814B
- BOJ Balance Sheet: ~$3,925B
- Global Net Liquidity: $16,726B
- BTC-USD (Liquidity Proxy): $66,662 (Neutral)
Active Alerts
- [WARNING] Key correlation regime break detected β normal market relationships are shifting, increased unpredictability.
- [WARNING] SPY near gamma wall β expect increased resistance/support and potential pinning at key strike.
- [WARNING] Oil spike alert: USO at $128.51 (vs 20d avg 111.85, +2.4Ο), floor $75.00 β potential geopolitical disruption or supply shock.
- [WARNING] SKEW at 146 β elevated tail-risk hedging activity.
- [INFO] SPY (744.95) reclaimed ZGL (742.67) β volatility dampening resumes.
- [WARNING] Pack size threshold breach (refresh #2): max=159186B avg=117887B
- [WARNING] DIX dropped below 0.45 to 0.437 β institutional buying support fading.
- [WARNING] Regime shifted from RISK-ON to TRANSITIONAL.
- [WARNING] SPY (744.98) dropped below ZGL (745.70) β expect amplified downside moves.
- [WARNING] CTA SMA stack now 4.0/4 β systematic trend trigger fired. Above all 4 SMAs (full-stack long).
Seasonality
- Current Month: July
- Average Return: +2.55%
- Median Return: +2.28%
- Hit Rate: 80%
- Signal: Historically Bullish
Today's Events
Economic Releases:
- Industrial Production: 102.6395 | Prev: 102.5606
Upcoming Calendar (30 Days)
Economic Releases:
- Philadelphia Fed Mfg Index: 2026-07-28
- Gross Domestic Product (GDP): 2026-07-30
- Employment Situation (Payrolls): 2026-08-07
- Consumer Price Index (CPI): 2026-08-12
- Producer Price Index (PPI): 2026-08-13
- Retail Sales: 2026-08-14
- Industrial Production: 2026-08-18
Earnings & EPS Estimates:
- GOOGL (2026-07-22): EPS Est. $2.89 (β0.7% vs 30d)
- TSLA (2026-07-22): EPS Est. $0.54 (β17.8% vs 30d)
- MSFT (2026-07-29): EPS Est. $4.24 (β0.0% vs 30d)
- META (2026-07-29): EPS Est. $7.23 (β0.4% vs 30d)
- AAPL (2026-07-30): EPS Est. $1.89 (β0.0% vs 30d)
- AMZN (2026-07-30): EPS Est. $1.82 (β0.2% vs 30d)
- WMT (2026-08-20): EPS Est. $0.74 (β0.0% vs 30d)
- NVDA (2026-08-26): EPS Est. $2.08 (β0.1% vs 30d)
FX News Wire
No new articles found since last report.
Iran War News
Iran International: unavailable.
Hormuz Strait Status
Hormuz Strait: no change since last report.
Strait of Hormuz Dashboard:
- Strait Status: CLOSED (since 2026-02-28, 143 days ago)
- Ships Transiting: 11 of 60 normal daily β 18.3% of normal
- Throughput: 11.0% of normal (1.1M / 10.3M DWT)
- Stranded Vessels: 351
- Oil Prices: Brent $81.62 (+9.79%)
- War Risk Insurance: EXTREME β 33.3x normal
- Tanker Rates: WS400 (+700% vs pre-crisis)
- Global Impact: 21% of world oil supply at risk; est. $8.2 billion/day economic cost