Finance Analyst Report: 2026-08-20 10:15:16 ET
Signal Alignment
SPY Direction: SPY -0.2% (3d) | Alignment: 29% (2 aligned, 5 divergent) Status: MODERATE DIVERGENCE β Moderate divergence β several structural signals disagree with price
| Category | Signal Says | vs SPY | Key Driver |
|---|---|---|---|
| Dark Pool | π΄ BEARISH | β ALIGNED | DIX 0.441 moderate, 0DTE PCR 1.34 put-heavy |
| Gamma | π’ BULLISH | β DIVERGENT | GEX +6.7B strong suppression |
| Breadth | π’ BULLISH | β DIVERGENT | Breadth 56% β broad participation supports rally |
| Energy | βͺ NEUTRAL | β | Energy ELEVATED β watch for transmission but not yet bearish |
| growth_expectations | π΄ BEARISH | β ALIGNED | Copper/Gold -8.0% growth collapse Β· real yield 2.41% restrictive |
| Correlations | βͺ NEUTRAL | β | SPY/VIX -0.53 elevated, SPY/DXY -0.08 normal, SPY/TNX -0.38 elevated, SPY/Oil -0.64 stretched |
| Volatility | βͺ NEUTRAL | β | VIX 16.0 sub-20 in contango Β· SKEW 143 firm Β· VVIX/VIX 5.69 dealer stress |
| Inflation | π’ BULLISH | β DIVERGENT | Stagflation score 20 β low inflation risk |
| carry_risk | π’ BULLISH | β DIVERGENT | 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 DIVERGENT | HY OAS 2.75% moderate, NFCI -0.559 loose |
Divergence read: Moderate divergence β gamma, breadth, and inflation flash bullish while SPY tracks bearish. 5 of 7 signals disagree with price.
Market Status
Regime: TRANSITIONAL | Score: 71/100 (Favorable, with caution) | Score reads 71 (Favorable) but regime is TRANSITIONAL β DIX below threshold (0.441) keeps full risk-on classification at bay. Signal-price divergence detected: 5 signals disagree with SPY's 5d trend.
Leading indicators show DIX stable at 0.441; GEX positive at 6.7B (vol-suppressing); breadth falling to 56% (participation narrowing). Lagging confirmation: VIX at 16.0 (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: $766.32 | 50 SMA $750.43 | 200 SMA $706.73 | +0.0% from 50d | ZGL $769.61
- QQQ: $712.95 | 50 SMA $712.98 | 200 SMA $651.96 | -0.0% from 50d | ZGL $695.99
- IWM: $298.44 | 50 SMA $296.07 | 200 SMA $269.38 | +0.0% from 50d | ZGL $299.55
- VIX: 15.96 β sub-20 (low vol)
- 10Y Yield: 4.694%
Equity & Derivatives Board
| Ticker | Price | RSI(14) | IVR | ZGL | Ξ³-Sent | PCR |
|---|---|---|---|---|---|---|
| SPY | $766.32 | 73.13 | 52.9 | $769.61 | Bearish | 1.69 |
| QQQ | $712.95 | 67.67 | 58.4 | $695.99 | Bearish | 1.78 |
| IWM | $298.44 | 64.40 | 26.2 | $299.55 | Bearish | 1.86 |
Macro Board
| Ticker | Price | RSI(14) | IVR | ZGL | Ξ³-Sent | PCR |
|---|---|---|---|---|---|---|
| VIX | 15.96 | 36.15 | 45.5 | $11.06 | Neutral | 0.93 |
| TNX | 46.94 | 49.05 | 39.8 | - | - | - |
| GLD | $411.56 | 73.86 | 34.4 | $389.44 | Bearish | 0.24 |
| DXY | 98.85 | 27.69 | 45.4 | - | - | - |
| SLV | $61.03 | 69.14 | 13.8 | $54.69 | Bearish | 0.28 |
Dark Pool Activity
- DIX (Dark Index): 0.441
- DIX Signal: Neutral
- GEX (Gamma Exposure): 6.69B
Credit Conditions
- HY OAS Spread: 2.75% (Normal)
- BBB Spread: 1.00%
- 2s10s Spread: 0.46% (Flat-ish)
Market Breadth
- Stocks Above 50-Day SMA: 56.1%
- Stocks Above 200-Day SMA: 71.6%
- Breadth Signal: Strong Bullish
- Total Stocks Analyzed: 269
- Mag 7 Concentration: 31.7%
- Top 10 Concentration: 41.2%
Sector Breadth
| Sector | % > 50d SMA | Stocks |
|---|---|---|
| Energy | 100.0% | 0/0 |
| Materials | 87.5% | 0/0 |
| Health Care | 85.7% | 0/0 |
| Communication Services | 72.7% | 0/0 |
| Consumer Staples | 69.2% | 0/0 |
| Financials | 57.6% | 0/0 |
| Consumer Discretionary | 50.0% | 0/0 |
| Industrials | 50.0% | 0/0 |
| Technology | 41.7% | 0/0 |
| Real Estate | 16.7% | 0/0 |
| Utilities | 13.3% | 0/0 |
Energy & Commodities
- Energy Regime: ELEVATED
- WTI Crude: $86.54 (5d: +5.0%)
- Brent Crude: $93.77 | Spread: $7.23
- RBOB Gasoline: $3.0100/gal
- Heating Oil: $4.3600/gal
- 3-2-1 Crack Spread: $58.78/bbl (Very wide)
- XLE (Energy Sector): $64.56
- UNG (Nat Gas): $9.97
Correlations
| Pair | 20d Corr | Signal |
|---|---|---|
| SPY / VIX | -0.525 | elevated |
| SPY / DXY | -0.081 | normal |
| SPY / TNX | -0.376 | elevated |
| SPY / Oil | -0.642 | stretched |
Volatility & Options
- Volatility Regime: Contango (Normal)
- MOVE Index (Bond Vol): 71.26
- VIX/MOVE Ratio: 0.22 (Normal Relationship)
- 0DTE Call Volume: 484,535.0
- 0DTE Put Volume: 648,495.0
- 0DTE Put/Call Ratio: 1.34 (Heavy 0DTE Put Buying (Hedging))
- 0DTE Notional Dollar Volume: $86.8B
- Gamma Call Wall: $775 | Put Wall: $765 (Spot: $766.32)
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 watch Β· Re-entry none
Macro Fundamentals
- 10Y Yield: 4.69%
- Yield Curve (10Y-3M): 0.99 (Normal)
- DXY: 98.85
- Growth vs Value: 0.93
- Fed Funds Rate: 3.50-3.75% | Next FOMC: 2026-09-16
- Rate Probabilities: Hold 84.0% | Cut 11.0%
Inflation Expectations
- 5Y Breakeven: 2.28% (Near Target)
- 10Y Breakeven: 2.30%
- 5Y5Y Forward: 2.32%
- Stagflation Risk Score: 20/100
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: ~$6,923B
- BOJ Balance Sheet: ~$4,075B
- Global Net Liquidity: $16,794B
- BTC-USD (Liquidity Proxy): $71,568 (Neutral)
Active Alerts
- [WARNING] SPY near gamma wall β expect increased resistance/support and potential pinning at key strike.
- [WARNING] Copper/Gold 20d RoC at -8.0% β growth expectations deteriorating rapidly.
- [WARNING] SKEW at 143 β elevated tail-risk hedging activity.
- [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).
- [WARNING] SPY (764.72) dropped below ZGL (769.59) β expect amplified downside moves.
- [WARNING] Data integrity: hy_oas is STALE (~54h old vs an expected max of ~49h) and it feeds the drawdown-risk lens and/or the health score β those surfaces are running on stale input.
- [WARNING] Data integrity: gex is STALE (~30h old vs an expected max of ~28h) and it feeds the drawdown-risk lens and/or the health score β those surfaces are running on stale input.
- [WARNING] Data integrity: dix is STALE (~30h old vs an expected max of ~28h) and it feeds the drawdown-risk lens and/or the health score β those surfaces are running on stale input.
- [WARNING] Data integrity: hormuz_oil_brent_price has printed the same value (93.26) for 6 consecutive trading days β publish cadence is intraday (~1 trading day(s); freeze bar 5). The feed may be frozen: downstream lenses, grading, and analogues are consuming a stale copy.
Seasonality
- Current Month: August
- Average Return: +0.35%
- Median Return: +1.41%
- Hit Rate: 65%
- Signal: Historically Neutral
Today's Events
Economic Releases:
- Industrial Production: 102.9939000000 | Prev: 102.7868000000
Earnings:
- WMT: EPS Est. $0.68 (β0.4% vs 30d)
Upcoming Calendar (30 Days)
Economic Releases:
- Philadelphia Fed Mfg Index: 2026-08-25
- Producer Price Index (PPI): 2026-09-10
- Consumer Price Index (CPI): 2026-09-11
- Industrial Production: 2026-09-18
Earnings & EPS Estimates:
- 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 (β0.3% 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
Unread articles (3):
[1] Euro: Bullish trend eyes upper 1.17s against US Dollar - Scotiabank URL: https://www.fxstreet.com/news/euro-bullish-trend-eyes-upper-117s-against-us-dollar-scotiabank-202608201413 Published: Thu, 20 Aug 2026 14:13:55 GMT
[2] Indonesian Rupiah: BI pause keeps tightening risk alive - Commerzbank URL: https://www.fxstreet.com/news/indonesian-rupiah-bi-pause-keeps-tightening-risk-alive-commerzbank-202608201400 Published: Thu, 20 Aug 2026 14:00:26 GMT
[3] Treasury announcement spooks the Dollar, commodities fly [Video] URL: https://www.fxstreet.com/analysis/treasury-announcement-spooks-the-dollar-commodities-fly-video-202608201400 Published: Thu, 20 Aug 2026 14:00:22 GMT
Iran War News
Updates (1):
[1] Houthis say they attacked Saudi targets in Najran Time: 2026-08-20T14:08:35.260Z
Hormuz Strait Status
Hormuz Strait: no change since last report.
Strait of Hormuz Dashboard:
- Strait Status: CLOSED (since 2026-02-28, 173 days ago)
- Ships Transiting: 12 of 60 normal daily β 10.0% of normal
- Throughput: 15.0% of normal (1.6M / 10.3M DWT)
- Stranded Vessels: 285
- Oil Prices: Brent $95.29 (+3.09%)
- War Risk Insurance: EXTREME β 56.7x normal
- Tanker Rates: WS420 (+740% vs pre-crisis)
- Global Impact: 21% of world oil supply at risk; est. $3.2 billion/day economic cost