Finance Analyst Report: 2026-08-18 13:07:47 ET
Signal Alignment
SPY Direction: SPY -1.0% (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 0.475 moderate, 0DTE PCR 1.28 put-heavy |
| Gamma | π’ BULLISH | β DIVERGENT | GEX +6.8B strong suppression |
| 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 | π΄ BEARISH | β ALIGNED | Copper/Gold -4.7% growth pessimism Β· real yield 2.41% restrictive |
| Correlations | βͺ NEUTRAL | β | SPY/VIX -0.57 elevated, SPY/DXY -0.15 normal, SPY/TNX -0.42 elevated, SPY/Oil -0.67 stretched |
| Volatility | βͺ NEUTRAL | β | VIX 15.7 sub-20 in contango Β· SKEW 143 firm Β· VVIX/VIX 6.01 dealer fear |
| Inflation | π’ BULLISH | β DIVERGENT | Stagflation score 18 β low inflation risk |
| carry_risk | π’ BULLISH | β DIVERGENT | USD/JPY 5d +0.2% stable, MOVE 76 calm |
| Liquidity | βͺ NEUTRAL | β | Liquidity Adequate, cut prob 11% β hawkish lean but no BS drain |
| Credit | π’ BULLISH | β DIVERGENT | HY OAS 2.67% benign, NFCI -0.549 loose |
Divergence read: Strong divergence β gamma, breadth, and energy flash bullish as SPY falls. 6 of 8 signals refuse to confirm the decline β reversal risk if structure holds.
Market Status
Regime: RISK-ON | Score: 86/100 (Favorable) | Signal-price divergence detected: 6 signals disagree with SPY's 5d trend.
Leading indicators show DIX stable at 0.475; GEX positive at 6.8B (vol-suppressing); breadth rising to 64% (participation broadening). Lagging confirmation: VIX at 15.7 (low-fear environment); seasonal pattern historically neutral.
Screener Action Board
- Screener Action Board not available this cycle.
Track Record
- AI brief hit rate not available this cycle.
- Screener board record not available this cycle.
What Changed
- No signal changes detected.
Key Levels
- SPY: $768.48 | 50 SMA $749.24 | 200 SMA $705.88 | +0.0% from 50d | ZGL $747.97
- QQQ: $718.71 | 50 SMA $712.74 | 200 SMA $651.10 | +0.0% from 50d | ZGL $695.53
- IWM: $301.04 | 50 SMA $295.34 | 200 SMA $268.83 | +0.0% from 50d | ZGL $297.58
- VIX: 15.67 β sub-20 (low vol)
- 10Y Yield: 4.712%
Equity & Derivatives Board
| Ticker | Price | RSI(14) | IVR | ZGL | Ξ³-Sent | PCR |
|---|---|---|---|---|---|---|
| SPY | $768.48 | 70.94 | 52.4 | $747.97 | Bearish | 1.54 |
| QQQ | $718.71 | 73.88 | 57.7 | $695.53 | Bearish | 2.32 |
| IWM | $301.04 | 65.18 | 26.7 | $297.58 | Bearish | 1.58 |
Macro Board
| Ticker | Price | RSI(14) | IVR | ZGL | Ξ³-Sent | PCR |
|---|---|---|---|---|---|---|
| VIX | 15.67 | 37.78 | 46.1 | $11.05 | Neutral | 1.46 |
| TNX | 47.12 | 61.72 | 39.1 | - | - | - |
| GLD | $400.34 | 78.92 | 27.5 | $379.35 | Neutral | 0.54 |
| DXY | 99.62 | 29.48 | 27.3 | - | - | - |
| SLV | $57.76 | 77.89 | 11.2 | $41.00 | Bearish | 0.37 |
Dark Pool Activity
- DIX (Dark Index): 0.475
- DIX Signal: Moderate buying
- GEX (Gamma Exposure): 6.8B
Credit Conditions
- HY OAS Spread: 2.67% (Normal)
- BBB Spread: 0.99%
- 2s10s Spread: 0.53% (Healthy slope)
Market Breadth
- Stocks Above 50-Day SMA: 64.4%
- Stocks Above 200-Day SMA: 71.7%
- Breadth Signal: Strong Bullish
- Total Stocks Analyzed: 376
- Mag 7 Concentration: 31.5%
- Top 10 Concentration: 41.0%
Sector Breadth
| Sector | % > 50d SMA | Stocks |
|---|---|---|
| Energy | 100.0% | 0/0 |
| Health Care | 81.0% | 0/0 |
| Communication Services | 78.6% | 0/0 |
| Financials | 77.4% | 0/0 |
| Consumer Staples | 73.1% | 0/0 |
| Materials | 64.7% | 0/0 |
| Industrials | 60.5% | 0/0 |
| Consumer Discretionary | 54.5% | 0/0 |
| Technology | 52.6% | 0/0 |
| Utilities | 36.4% | 0/0 |
| Real Estate | 28.6% | 0/0 |
Energy & Commodities
- Energy Regime: STABLE
- WTI Crude: $84.19 (5d: +1.1%)
- Brent Crude: $91.22 | Spread: $7.03
- RBOB Gasoline: $3.0100/gal
- Heating Oil: $4.3100/gal
- 3-2-1 Crack Spread: $60.43/bbl (Very wide)
- XLE (Energy Sector): $63.47
- UNG (Nat Gas): $10.00
Correlations
| Pair | 20d Corr | Signal |
|---|---|---|
| SPY / VIX | -0.566 | elevated |
| SPY / DXY | -0.147 | normal |
| SPY / TNX | -0.416 | elevated |
| SPY / Oil | -0.669 | stretched |
Volatility & Options
- Volatility Regime: Contango (Normal)
- MOVE Index (Bond Vol): 75.63
- VIX/MOVE Ratio: 0.21 (Normal Relationship)
- 0DTE Call Volume: 1,821,351.0
- 0DTE Put Volume: 2,337,065.0
- 0DTE Put/Call Ratio: 1.28 (Balanced 0DTE Flow)
- 0DTE Notional Dollar Volume: $319.6B
- Gamma Call Wall: $775 | Put Wall: $765 (Spot: $768.48)
CTA Trend Stack
- SMA Stack Score: 4/4 above
- Position: Above all 4 SMAs (full-stack long)
Positioning & Sentiment
- CFTC E-mini Specs Net: +11,280 contracts (Z +2.32, as of 2026-08-11)
- AAII Bull-Bear Spread: -3.2% (as of 2026-08-12)
- Squeeze Setup: none (0/4 triggers Β· no triggers active)
- Fragility Flags: Air Pocket elevated Β· Re-entry none
Macro Fundamentals
- 10Y Yield: 4.71%
- Yield Curve (10Y-3M): 1.01 (Normal)
- DXY: 99.62
- Growth vs Value: 0.94
- Fed Funds Rate: 3.50-3.75% | Next FOMC: 2026-09-16
- Rate Probabilities: Hold 84.0% | Cut 11.0%
Inflation Expectations
- 5Y Breakeven: 2.25% (Near Target)
- 10Y Breakeven: 2.28%
- 5Y5Y Forward: 2.31%
- Stagflation Risk Score: 18/100
Fed & Global Liquidity
- Fed Balance Sheet (WALCL): $6760.0B
- Treasury General Account (TGA): $964.0B
- Reverse Repo (RRP): $0.3B
- US Net Liquidity (WALCL - TGA - RRP): $5,796B
- Liquidity Regime: Adequate
- ECB Balance Sheet: ~$6,859B
- BOJ Balance Sheet: ~$4,040B
- Global Net Liquidity: $16,695B
- BTC-USD (Liquidity Proxy): $64,846 (Neutral)
Active Alerts
- [WARNING] VVIX/VIX ratio at 6.0 β vol-of-vol outpacing VIX, uncertainty about uncertainty rising.
- [WARNING] SPY near gamma wall β expect increased resistance/support and potential pinning at key strike.
- [INFO] Full bullish alignment: DIX 0.475, GEX +6.8B, HY OAS 2.67%, breadth 64%.
- [WARNING] SKEW at 143 β elevated tail-risk hedging activity.
- [WARNING] Signal-price divergence: 6/9 signals disagree with SPY's bearish trend β structural repricing risk elevated.
- [WARNING] Key correlation regime break detected β normal market relationships are shifting, increased unpredictability.
- [WARNING] CTA SMA stack now 4.0/4 β systematic trend trigger fired. Above all 4 SMAs (full-stack long).
- [INFO] SPY (768.49) reclaimed ZGL (747.98) β volatility dampening resumes.
- [INFO] Breadth crossed above 50% (64% >50d SMA) β participation broadening, bullish reversal signal.
- [WARNING] Regime shifted from RISK-OFF to RISK-ON.
Seasonality
- Current Month: August
- Average Return: +0.37%
- Median Return: +1.41%
- Hit Rate: 65%
- Signal: Historically Neutral
Today's Events
Economic Releases:
- Industrial Production: β³ Pending
Upcoming Calendar (30 Days)
Economic Releases:
- Gross Domestic Product (GDP): 2026-08-26
Earnings & EPS Estimates:
- WMT (2026-08-20): EPS Est. $0.74 (β0.2% vs 30d)
- NVDA (2026-08-26): EPS Est. $2.08 (β0.3% vs 30d)
- JPM (2026-10-13): EPS Est. $5.91 (β2.7% vs 30d)
- GS (2026-10-13): EPS Est. $16.43 (β16.6% vs 30d)
- TSLA (2026-10-21): EPS Est. $0.45 (β17.4% vs 30d)
- MSFT (2026-10-28): EPS Est. $4.71 (β2.0% vs 30d)
- GOOGL (2026-10-28): EPS Est. $3.00 (β0.1% vs 30d)
- META (2026-10-28): EPS Est. $6.75 (β4.3% vs 30d)
- AAPL (2026-10-29): EPS Est. $1.98 (β2.0% vs 30d)
- AMZN (2026-10-29): EPS Est. $1.95 (β2.1% vs 30d)
FX News Wire
No new articles found since last report.
Iran War News
Updates (1):
[BREAKING] [1] UAE says Iran launched two ballistic missiles Time: 2026-08-18T16:52:07.208Z
Hormuz Strait Status
Strait of Hormuz Dashboard:
- Strait Status: CLOSED (since 2026-02-28, 171 days ago)
- Ships Transiting: 12 of 60 normal daily β 20.0% of normal
- Throughput: 16.9% of normal (1.7M / 10.3M DWT)
- Stranded Vessels: 280
- Oil Prices: Brent $93.26 (+0.56%)
- War Risk Insurance: EXTREME β 56.7x normal
- Tanker Rates: WS470 (+840% vs pre-crisis)
- Global Impact: 21% of world oil supply at risk; est. $3.2 billion/day economic cost