Finance Analyst Report: 2026-08-28 15:56:56 ET
Signal Alignment
SPY Direction: SPY -0.0% (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 | βͺ NEUTRAL | β | DIX 0.451 moderate, 0DTE PCR 0.98 balanced |
| Gamma | π’ BULLISH | β DIVERGENT | GEX +6.7B strong suppression |
| Breadth | βͺ NEUTRAL | β | Breadth 54% β mixed participation |
| Energy | π’ BULLISH | β DIVERGENT | Energy STABLE β no macro headwind from oil |
| growth_expectations | π΄ BEARISH | β ALIGNED | Copper/Gold -7.3% growth collapse Β· real yield 2.34% restrictive |
| Correlations | π΄ BEARISH | β ALIGNED | SPY/VIX -0.21 extreme, SPY/DXY -0.16 normal, SPY/TNX -0.46 elevated, SPY/Oil -0.57 stretched |
| Volatility | βͺ NEUTRAL | β | VIX 14.4 sub-20 in contango Β· SKEW 144 firm Β· VVIX/VIX 5.96 dealer stress |
| Inflation | π’ BULLISH | β DIVERGENT | Stagflation score 22 β low inflation risk |
| carry_risk | π’ BULLISH | β DIVERGENT | USD/JPY 5d +0.8% stable, MOVE 70 calm |
| Liquidity | βͺ NEUTRAL | β | Liquidity Adequate, cut prob 11% β hawkish lean but no BS drain |
| Credit | π’ BULLISH | β DIVERGENT | HY OAS 2.63% benign, NFCI -0.566 loose |
Divergence read: SPY slipping but gamma, energy, and inflation flash bullish against the risk-on tape β 5 structural signals refuse to confirm the dip. Watch for: breadth expansion above 55% (bullish resolution).
Market Status
Regime: RISK-ON | Score: 81/100 (Favorable) | Signal-price divergence detected: 5 signals disagree with SPY's 5d trend.
Leading indicators show DIX stable at 0.451; GEX positive at 6.7B (vol-suppressing); credit spreads tightening (risk appetite improving). Lagging confirmation: VIX at 14.4 (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: $769.70 | 50 SMA $753.39 | 200 SMA $709.41 | +0.0% from 50d | ZGL $769.15
- QQQ: $716.78 | 50 SMA $712.19 | 200 SMA $654.71 | +0.0% from 50d | ZGL $704.45
- IWM: $295.77 | 50 SMA $297.20 | 200 SMA $271.05 | -0.0% from 50d | ZGL $297.5
- VIX: 14.44 β sub-20 (low vol)
- 10Y Yield: 4.720%
Equity & Derivatives Board
| Ticker | Price | RSI(14) | IVR | ZGL | Ξ³-Sent | PCR |
|---|---|---|---|---|---|---|
| SPY | $769.70 | 47.40 | 40.2 | $769.15 | Neutral | 0.90 |
| QQQ | $716.78 | 48.49 | 48.0 | $704.45 | Neutral | 1.17 |
| IWM | $295.77 | 46.33 | 20.8 | $297.50 | Bearish | 9.25 |
Macro Board
| Ticker | Price | RSI(14) | IVR | ZGL | Ξ³-Sent | PCR |
|---|---|---|---|---|---|---|
| VIX | 14.44 | 47.71 | 33.7 | $11.06 | Neutral | 1.07 |
| TNX | 47.20 | 51.28 | 44.8 | - | - | - |
| GLD | $408.98 | 68.12 | 32.2 | $411.99 | Bearish | 7.42 |
| DXY | 99.65 | 46.94 | 28.8 | - | - | - |
| SLV | $60.09 | 66.95 | 10.4 | $44.00 | Neutral | 0.82 |
Dark Pool Activity
- DIX (Dark Index): 0.451
- DIX Signal: Moderate buying
- GEX (Gamma Exposure): 6.72B
Credit Conditions
- HY OAS Spread: 2.63% (Normal)
- BBB Spread: 0.98%
- 2s10s Spread: 0.47% (Flat-ish)
Market Breadth
- Stocks Above 50-Day SMA: 54.1%
- Stocks Above 200-Day SMA: 71.5%
- Breadth Signal: Strong Bullish
- Total Stocks Analyzed: 495
- Mag 7 Concentration: 32.1%
- Top 10 Concentration: 41.6%
Sector Breadth
| Sector | % > 50d SMA | Stocks |
|---|---|---|
| Energy | 94.7% | 0/0 |
| Health Care | 79.6% | 0/0 |
| Consumer Staples | 69.7% | 0/0 |
| Communication Services | 68.4% | 0/0 |
| Materials | 66.7% | 0/0 |
| Financials | 61.8% | 0/0 |
| Technology | 53.8% | 0/0 |
| Consumer Discretionary | 44.1% | 0/0 |
| Industrials | 38.8% | 0/0 |
| Real Estate | 19.2% | 0/0 |
| Utilities | 10.0% | 0/0 |
Energy & Commodities
- Energy Regime: STABLE
- WTI Crude: $83.42 (5d: -1.9%)
- Brent Crude: $88.21 | Spread: $4.79
- RBOB Gasoline: $3.0500/gal
- Heating Oil: $4.2400/gal
- 3-2-1 Crack Spread: $61.34/bbl (Very wide)
- XLE (Energy Sector): $62.69
- UNG (Nat Gas): $10.33
Correlations
| Pair | 20d Corr | Signal |
|---|---|---|
| SPY / VIX | -0.208 | extreme |
| SPY / DXY | -0.164 | normal |
| SPY / TNX | -0.455 | elevated |
| SPY / Oil | -0.571 | stretched |
Volatility & Options
- Volatility Regime: Contango (Normal)
- MOVE Index (Bond Vol): 69.86
- VIX/MOVE Ratio: 0.21 (Normal Relationship)
- 0DTE Call Volume: 4,375,425.0
- 0DTE Put Volume: 4,298,006.0
- 0DTE Put/Call Ratio: 0.98 (Balanced 0DTE Flow)
- 0DTE Notional Dollar Volume: $667.6B
- Gamma Call Wall: $770 | Put Wall: $766 (Spot: $769.70)
CTA Trend Stack
- SMA Stack Score: 4/4 above
- Position: Above all 4 SMAs (full-stack long)
Positioning & Sentiment
- CFTC E-mini Specs Net: -67,994 contracts (Z +0.86, as of 2026-08-25)
- AAII Bull-Bear Spread: -11.5% (as of 2026-08-26)
- Squeeze Setup: none (0/4 triggers Β· no triggers active)
- Fragility Flags: Air Pocket watch Β· Re-entry none
Macro Fundamentals
- 10Y Yield: 4.72%
- Yield Curve (10Y-3M): 0.99 (Normal)
- DXY: 99.65
- 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: 2.31% (Near Target)
- 10Y Breakeven: 2.33%
- 5Y5Y Forward: 2.35%
- Stagflation Risk Score: 22/100
Fed & Global Liquidity
- Fed Balance Sheet (WALCL): $6730.9B
- Treasury General Account (TGA): $950.7B
- Reverse Repo (RRP): $0.2B
- US Net Liquidity (WALCL - TGA - RRP): $5,780B
- Liquidity Regime: Adequate
- ECB Balance Sheet: ~$6,892B
- BOJ Balance Sheet: ~$4,042B
- Global Net Liquidity: $16,714B
- BTC-USD (Liquidity Proxy): $77,529 (Neutral)
Active Alerts
- [WARNING] SPY near gamma wall β expect increased resistance/support and potential pinning at key strike.
- [WARNING] Signal-price divergence: 5/9 signals disagree with SPY's bearish trend β structural repricing risk elevated.
- [WARNING] 3-2-1 crack spread at $61.34/bbl (vs 20d avg 57.35, +1.9Ο), floor $35.00/bbl β refining margins extremely elevated, consumer fuel price pressure.
- [INFO] Full bullish alignment: DIX 0.451, GEX +6.7B, HY OAS 2.63%, breadth 54%.
- [WARNING] Copper/Gold 20d RoC at -7.3% β growth expectations deteriorating rapidly.
- [WARNING] SKEW at 144 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).
- [INFO] SPY (769.31) reclaimed ZGL (769.22) β volatility dampening resumes.
- [WARNING] SPY (769.06) dropped below ZGL (769.22) β expect amplified downside moves.
Seasonality
- Current Month: August
- Average Return: +0.37%
- Median Return: +1.41%
- Hit Rate: 65%
- Signal: Historically Neutral
Today's Events
Economic Releases:
- Gross Domestic Product (GDP): 32486.066 | Prev: 31865.721
Upcoming Calendar (30 Days)
Economic Releases:
- Employment Situation (Payrolls): 2026-09-04
- Producer Price Index (PPI): 2026-09-10
- Consumer Price Index (CPI): 2026-09-11
- Retail Sales: 2026-09-16
- Industrial Production: 2026-09-18
- Philadelphia Fed Mfg Index: 2026-09-22
Earnings & EPS Estimates:
- 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 (β17.9% vs 30d)
- MSFT (2026-10-28): EPS Est. $4.72 (β2.3% vs 30d)
- GOOGL (2026-10-28): EPS Est. $3.01 (β0.2% vs 30d)
- META (2026-10-28): EPS Est. $6.61 (β6.2% vs 30d)
- AAPL (2026-10-29): EPS Est. $1.98 (β2.0% vs 30d)
- AMZN (2026-10-29): EPS Est. $1.95 (β2.2% vs 30d)
- NVDA (2026-11-17): EPS Est. $2.34 (β0.1% vs 30d)
- WMT (2026-11-19): EPS Est. $0.64 (β7.1% vs 30d)
FX News Wire
Unread articles (8):
[1] United Kingdom CFTC GBP NC Net Positions rose from previous Β£-54.6K to Β£-44.5K URL: https://www.fxstreet.com/news/united-kingdom-cftc-gbp-nc-net-positions-rose-from-previous-ps-546k-to-ps-445k-202608281940 Published: Fri, 28 Aug 2026 19:40:18 GMT
[2] Japan CFTC JPY NC Net Positions fell from previous Β₯-52.9K to Β₯-63.3K URL: https://www.fxstreet.com/news/japan-cftc-jpy-nc-net-positions-fell-from-previous-y-529k-to-y-633k-202608281940 Published: Fri, 28 Aug 2026 19:40:13 GMT
[3] Eurozone CFTC EUR NC Net Positions: β¬-36.4K vs β¬-59.1K URL: https://www.fxstreet.com/news/eurozone-cftc-eur-nc-net-positions-eur-364k-vs-eur-591k-202608281940 Published: Fri, 28 Aug 2026 19:40:08 GMT
[4] United States CFTC S&P 500 NC Net Positions fell from previous $-10.6K to $-68K URL: https://www.fxstreet.com/news/united-states-cftc-sp-500-nc-net-positions-fell-from-previous-106k-to-68k-202608281940 Published: Fri, 28 Aug 2026 19:40:02 GMT
[5] United States CFTC Oil NC Net Positions rose from previous 122.1K to 123.4K URL: https://www.fxstreet.com/news/united-states-cftc-oil-nc-net-positions-rose-from-previous-1221k-to-1234k-202608281939 Published: Fri, 28 Aug 2026 19:39:55 GMT
[6] United States CFTC Gold NC Net Positions up to $243.3K from previous $222.2K URL: https://www.fxstreet.com/news/united-states-cftc-gold-nc-net-positions-up-to-2433k-from-previous-2222k-202608281939 Published: Fri, 28 Aug 2026 19:39:48 GMT
[7] Australia CFTC AUD NC Net Positions declined to $-44.5K from previous $-44.2K URL: https://www.fxstreet.com/news/australia-cftc-aud-nc-net-positions-declined-to-445k-from-previous-442k-202608281939 Published: Fri, 28 Aug 2026 19:39:42 GMT
[8] South Korean Won: Strong exports support KRW and KOSPI - DBS URL: https://www.fxstreet.com/news/south-korean-won-strong-exports-support-krw-and-kospi-dbs-202608281931 Published: Fri, 28 Aug 2026 19:31:34 GMT
Iran War News
No new Iran International updates since last report.
Hormuz Strait Status
Hormuz Strait: no change since last report.
Strait of Hormuz Dashboard:
- Strait Status: CLOSED (since 2026-02-28, 181 days ago)
- Ships Transiting: 3 of 60 normal daily β 1.2% of normal
- Throughput: 4.0% of normal (0.4M / 10.3M DWT)
- Stranded Vessels: 185
- Oil Prices: Brent $88.24 (-4.82%)
- War Risk Insurance: EXTREME β 50.0x normal
- Tanker Rates: WS275 (+450% vs pre-crisis)
- Global Impact: 21% of world oil supply at risk; est. $2.8 billion/day economic cost