Chief Market Strategist Command Center

Executive Summary

The combined signal is Mixed / Defensive. The regime label is Narrow Growth-Led Risk-On: Leadership is concentrated in growth/technology rather than broad sector participation. Breadth, price momentum, and credit/rates context are combined to decide whether the week argues for broader beta, selective leadership, or more defensive positioning.

Leadership: UFO, XTL, SPHB, AIQ Risk watch: IHI, BTC-USD, GLD, BJK Credit cushion: tight Regime: Narrow Growth-Led Risk-On

Top-down read: the strongest group stack is Factors / Style, Major Indexes, Thematic Growth / Tech. The weakest group stack is Financial / Health Care Industries, Metals / Miners, Commodities / Crypto / USD. Start the weekly meeting with index beta, then decide sector exposure, then use the smaller industry/theme ETFs only where they add information beyond the sector proxies.

Breadth Read

Participation is good enough to stay engaged, but not broad enough to ignore rotation risk.

Avg 20 / 50 / 200 DMA50.2% / 55.2% / 61.3%

Avg Health Score52.90

Avg Damage Breadth46.5%

Best 1W health changeCOAL

ETF Momentum

Price leadership ranks the strongest ETFs from the cached price universe.

Latest price date2026-05-28

Top 1W leaderCOAL

Top 1M leaderUFO

Worst 1M laggardURA

Rates / Credit Overlay

The yield curve deck is used as the portfolio risk governor.

Credit stanceComplacent / tight risk premium

HY OAS2.72 / 12 pctile

IG OAS0.74 / 2 pctile

Positioning / Crowding

The CFTC deck checks whether price and breadth leadership are confirmed by futures positioning or vulnerable to crowding reversal.

Primary useCrowding and sponsorship check

Weekly focusLargest 1W/4W positioning changes

Risk flagCrowded long plus weakening breadth

Top-Down Heatmap Table

Green cells are stronger readings, red cells are weaker readings. For damage breadth, lower damage is treated as better.

Group	1W	1M	3M	6M	1Y	Health	Health Chg	Trend	Leadership	Damage	>50DMA	>200DMA
Factors / Style	1.0%	3.0%	14.2%	9.6%	14.5%	79.93	0.47	100.0%	61.3%	26.1%	100.0%	100.0%
Major Indexes	0.8%	2.6%	16.5%	8.6%	13.9%	75.36	1.39	92.0%	57.0%	14.8%	100.0%	100.0%
Thematic Growth / Tech	1.2%	5.9%	24.8%	12.5%	19.9%	69.61	2.55	88.1%	64.4%	49.6%	92.9%	85.7%
Rates / Credit	0.5%	0.0%	2.8%	1.2%	2.9%	56.45	-1.25	64.3%	37.1%	28.9%	64.3%	78.6%
Industries / Infrastructure / Housing	1.3%	2.3%	10.1%	12.0%	27.3%	55.28	4.48	65.9%	54.9%	61.2%	52.9%	82.4%
International Equity	0.7%	-0.7%	7.8%	3.4%	12.5%	53.19	0.04	60.0%	46.8%	48.8%	50.0%	75.0%
US Sectors / Key Industry Proxies	0.4%	1.3%	7.5%	4.5%	9.8%	33.54	-0.34	52.3%	9.4%	15.9%	58.3%	75.0%
Financial / Health Care Industries	-0.3%	0.5%	6.5%	-3.5%	7.0%	47.87	-5.72	54.0%	43.2%	55.4%	60.0%	50.0%
Metals / Miners	1.4%	-3.5%	7.3%	-7.3%	32.5%	31.26	5.47	28.0%	44.4%	81.8%	20.0%	40.0%
Commodities / Crypto / USD	-1.1%	-3.4%	6.8%	1.3%	26.9%	33.20	-8.80	38.3%	32.6%	74.2%	25.0%	58.3%

Weekly Review

This Week's Price Leaders

Ticker	Name	1W	1M	3M	Above 50DMA
COAL	COAL	8.0%	4.3%	-3.1%	True
UFO	UFO	7.7%	30.6%	45.5%	True
JETS	JETS	7.2%	5.4%	16.3%	True
XME	XME	5.0%	2.0%	17.1%	True
XTL	XTL	4.2%	10.4%	28.5%	True
XTN	XTN	4.2%	5.7%	19.8%	True
URNM	URNM	3.9%	-9.7%	2.1%	False
CARZ	CARZ	3.8%	8.5%	48.6%	True
EEM	EEM	3.8%	2.7%	23.3%	True
NXTG	NXTG	3.8%	11.2%	40.2%	True

This Week's Price Laggards

Ticker	Name	1W	1M	3M	Above 50DMA
USO	Oil	-7.0%	-2.9%	11.7%	False
FCG	FCG	-5.7%	-2.0%	-11.6%	False
XOP	XOP	-5.0%	-1.6%	-11.8%	False
XES	XES	-4.7%	0.9%	3.7%	False
BUG	BUG	-4.5%	11.8%	30.2%	True
XLE	Energy	-4.2%	1.9%	-7.4%	False
OIH	OIH	-4.2%	1.9%	3.0%	False
GSG	GSG	-4.0%	-2.9%	3.1%	False
DBC	DBC	-3.4%	-2.5%	3.7%	False
BTC-USD	BTC-USD	-2.9%	-7.0%	8.2%	False

Strategist Checklist

Decision Point	Current Evidence	Implication
Market beta	Major index weekly leadership and % above moving averages are reviewed first.	Determines whether to lean into broad equity risk or keep beta selective.
Sector allocation	Sector/key-industry table shows where participation and price action confirm.	Determines where to overweight or underweight within US equity exposure.
Theme/industry expression	Non-sector themes are used after the sector view is set.	Prevents double-counting SMH/XHB-style proxies that already appear in the sector layer.
Risk governor	Credit spread and rates-vol backdrop remains the check on how aggressive the equity view should be.	Strong tape plus tight credit argues for selectivity rather than indiscriminate beta.

Methodology

This page defines the language used throughout the packet so the weekly read is explainable in a client or investment-committee setting.

Health Score

Composite breadth score from the individual ETF breadth metric files. It answers: are the holdings inside the ETF broadly confirming the price move?

35%Trend Breadth: average % of holdings above 20DMA, 50DMA, and 200DMA

20%Leadership Breadth: average % making new highs or sitting near 52-week highs

15%Positive 20D Return: % of holdings with positive 20-day return

20%Relative Strength: average % outperforming across 30D, 60D, 90D, 6M, and 1Y

-10%Damage Breadth: penalizes new lows and holdings more than 20% below 52-week highs

Weekly Change

Health 1W Change is the 5-trading-day change in the Health Score. This matters because a strong ETF with falling internal health is different from a strong ETF whose internals are still broadening.

ImproverHealth score rising over the last 5 trading days

DeterioratorHealth score falling over the last 5 trading days

ConfirmationPrice return and breadth health moving in the same direction

DivergencePrice return and breadth health moving in opposite directions

Price Proxy Health

For ETFs without constituent breadth files, the packet uses a technical proxy so group summaries are complete instead of blank.

40%Trend proxy: above 50DMA, above 200DMA, and positive 1M return

35%Leadership proxy: percentile rank of 1W, 1M, and 3M returns

25%Damage proxy: penalty for drawdown from the trailing 1-year high

Health SourceTables mark each row as Breadth or Price proxy

Trend Breadth

Measures whether holdings are above key moving averages. This is the cleanest internal trend confirmation signal.

Above 20DMAShort-term trend participation

Above 50DMAIntermediate trend participation

Above 200DMALong-term trend participation

Damage Breadth

Measures internal stress. High damage breadth means the ETF price can look stable while many constituents remain impaired.

20D New LowsFresh short-term breakdowns

52W New LowsLong-term breakdowns

>20% Below HighDrawdown damage below the ETF surface

ETF Group Definitions

These groupings drive the top-down tables and charts. XLK is the broad technology sector proxy; SMH is classified inside Thematic Growth / Tech because semiconductors behave more like a focused tech leadership expression than a broad sector allocation.

Group	ETF Count	ETFs
Major Indexes	11	SPY, QQQ, IWM, IWF, IWD, RSP, OEF, XLG, MAGS, XMAG, SPXT
US Sectors / Key Industry Proxies	12	XLK, XLY, XLP, XLC, XLE, XLF, XLV, XLI, XLB, XLRE, XLU, XHB
Factors / Style	6	SPHD, SPHB, SPLV, MTUM, QUAL, VO
Industries / Infrastructure / Housing	17	XTL, SOCL, HERO, NXTG, XES, XOP, OIH, CRAK, FCG, COAL, NUKZ, JETS, PAVE, ITA, XTN, CARZ, ITB
Thematic Growth / Tech	14	SMH, IGV, CLOU, BUG, GRID, PINK, ARKK, UFO, BJK, AIQ, QTUM, PEJ, PNQI, ROBO
Financial / Health Care Industries	10	KRE, IAK, PSP, IYG, IAI, XBI, IBB, IHF, IHI, IHE
Rates / Credit	14	STIP, SHY, TIP, IEF, TLT, AGG, CWB, EMLC, EMB, HYG, LQD, BKLN, MBB, PFF
Metals / Miners	10	GSG, GDX, GDXJ, SIL, SILJ, COPX, URNM, XME, HAP, WOOD
International Equity	8	EWA, EWZ, FXI, EEM, EZU, INDA, DXJ, EWU
Commodities / Crypto / USD	12	DBA, DBB, BTC-USD, DBC, USO, GLD, SLV, URA, PLTM, PALL, CPER, UUP

Cross-Analysis

This page compares the four decks directly: breadth tells us if participation confirms, ETF technicals tell us where leadership sits, rates/credit tell us whether risk is being compensated, and CFTC positioning tells us whether sponsorship is crowded, washed out, or confirming the price move.

Question	Breadth	ETF Technicals	Rates / Credit	Positioning	Strategy Read
Is the rally healthy?	Average health is 52.90 with strongest confirmation in UFO, XTL, SPHB, AIQ.	1W leadership is COAL, UFO, JETS, XME, XTL; 1M leadership is UFO, BUG, NXTG, QTUM, XTL.	Spreads are tight, so the backdrop is calm but not cheap.	Check whether index futures positioning is confirming price strength or already crowded.	Stay constructive, but keep the view selective.
Where is risk hiding?	Weakest breadth is in IHI, BTC-USD, GLD, BJK; weekly deterioration is led by XLE, USO, FCG, XOP.	Weak 1W price action is in USO, FCG, XOP, XES, BUG.	Tight HY/IG spreads leave little cushion if volatility rises.	Crowded longs with weakening price/breadth are the highest-risk setup.	Avoid weak breadth plus weak momentum plus low credit compensation.
What upgrades the view?	50DMA and 200DMA breadth expands across lagging sectors.	Leadership broadens beyond the current winners.	MOVE stays contained and spreads do not widen.	Positioning broadens without moving into extreme crowding.	Move from selective risk-on to broader risk-on.
What invalidates the view?	Health scores roll over and damage breadth rises.	Top momentum groups fail while defensives lead for stress reasons.	HY OAS widens and rates volatility rises.	Leveraged money exits risk assets or crowded longs unwind against price.	Raise quality, cut beta, and prioritize drawdown control.

Breadth Deck Extract

Average breadth health is 52.90 with 55.2% of ETFs above their 50DMA and 61.3% above their 200DMA. Damage breadth is 46.5%, so the key weekly test is whether participation keeps broadening while damage stays contained. Strongest current health is in UFO, XTL, SPHB, AIQ, EEM; weakest health is in IHI, BTC-USD, GLD, BJK, PLTM. The biggest one-week breadth improvers are COAL, UFO, JETS, XME, XTL, while deterioration is led by XLE, USO, FCG, XOP, XES.

ETF Deck Extract

ETF price leadership is led by COAL, UFO, JETS, XME, XTL over one week and UFO, BUG, NXTG, QTUM, XTL over one month. Current laggards are USO, FCG, XOP, XES, BUG. The strongest top-down groups are Factors / Style, Major Indexes, Thematic Growth / Tech; the weakest groups are Financial / Health Care Industries, Metals / Miners, Commodities / Crypto / USD. This is the rotation layer: use it to separate price leadership that is confirmed by breadth from moves that are narrow, extended, or unsupported by internal participation.

Yield/Credit Deck Extract

Yield Curve Credit Strategy Chartdeck Yield Curve Credit Strategy Command Center Generated from FRED rates, credit spreads, yfinance proxies, and breadth ETF prices. Credit Summary CIO View Trade Dashboard Methodology Data Guardrails Forward Returns Executive Summary Macro Dashboard Curve Risk Policy / Inflation Credit Deep Dive Quality Premium Cross-Asset Yield Curve Credit Strategy Chartdeck Institutional rates and credit analysis using FRED Treasury, inflation, term-premium, corporate spread, recession, and Yahoo Finance market-proxy data. Latest Data 2026-05-28 Chart Start 2012-01-01 Charts 13 Series 60 Credit Summary Top-of-deck credit strategy page with spread compensation, curve press

CFTC Positioning Extract

CFTC Positioning Dashboard An institutional view of who is long, who is short, where positioning is crowded, and whether futures behavior confirms or conflicts with price. Includes net spec, asset manager, hedge fund/leveraged money, retail/non-reportable, commercial/dealer, open interest, gross crowding, z-score, percentile, and week-over-week change lenses. Assets Covered 16 CFTC Range 2026-05-26 to 2026-05-26 Core Lens Asset Managers + Hedge Funds Most Crowded Long Highest 3-year percentile for Asset Manager + Leveraged Money net positioning. 5-Year Treasury Notes 100.0% Copper 96.2% 2-Year Treasury Notes 94.9% Most Crowded Short Lowest 3-year percentile for Asset Manager + Leveraged Money net positioning. Natural Gas 2.6% Russell 2000 3.2% Japanese Yen 12.8% Price / Positioning Confirmation Assets where 13-week price action and institutional/HF positioning are moving together. S&P 500 9.5% price / 8.1K pos Crude Oil 69.6% price / 12.2K pos Copper 7.5% price / 19.5K pos US Dollar 2.

Confirmation / Divergence Matrix

Signal Pair	What To Look For	Current Use
Price up + breadth up	1W/1M returns positive while Health 1W Change improves.	Highest-quality leadership; candidates for overweight or add-on exposure.
Price up + breadth down	ETF rallying while internal participation deteriorates.	Late-stage or narrowing leadership; keep position size disciplined.
Price down + breadth up	ETF weak on price but internals repair.	Early repair watchlist; useful for rotation candidates.
Price down + breadth down	Weak returns, weak health, rising damage.	Avoid, underweight, or require a cleaner reversal signal.

Weekly Changes

This page compares the current run against the prior saved command-center snapshot. The first time you run the packet, prior-week changes will be blank; after that, this becomes the weekly change log.

Biggest Group Upgrades

Group	Prior Date	Strategy Score	Strategy Score Change	Health	Health Change	Trend_Breadth	Trend_Breadth Change	Damage_Breadth	Damage_Breadth Change
Factors / Style	2026-05-29	47.70	6.58	79.93	8.38	100.0%	16.7%	26.1%	-1.8%
International Equity	2026-05-29	21.64	5.61	53.19	6.48	60.0%	10.0%	48.8%	-2.2%
US Sectors / Key Industry Proxies	2026-05-29	21.12	1.11	33.54	0.00	52.3%	0.0%	15.9%	-0.0%
Commodities / Crypto / USD	2026-05-29	-1.15	1.09	33.20	1.83	38.3%	0.0%	74.2%	-1.0%
Industries / Infrastructure / Housing	2026-05-29	25.16	0.88	55.28	1.58	65.9%	0.0%	61.2%	-2.2%

Biggest Group Downgrades

Group	Prior Date	Strategy Score	Strategy Score Change	Health	Health Change	Trend_Breadth	Trend_Breadth Change	Damage_Breadth	Damage_Breadth Change
Metals / Miners	2026-05-29	-0.54	-11.82	31.26	-6.32	28.0%	-12.0%	81.8%	1.8%
Thematic Growth / Tech	2026-05-29	40.51	-10.52	69.61	-5.98	88.1%	0.0%	49.6%	8.6%
Rates / Credit	2026-05-29	27.81	-7.28	56.45	-8.04	64.3%	-17.1%	28.9%	0.9%
Financial / Health Care Industries	2026-05-29	16.37	-5.60	47.87	-6.39	54.0%	-14.0%	55.4%	-2.0%
Major Indexes	2026-05-29	46.03	-0.03	75.36	1.43	92.0%	1.8%	14.8%	-1.1%

How to use: focus on groups where Strategy Score improves while Damage Breadth falls, or where Strategy Score deteriorates while Damage Breadth rises. Those are the cleanest week-over-week confirmation signals.

Historical Regime Label

Current regime: Narrow Growth-Led Risk-On. Leadership is concentrated in growth/technology rather than broad sector participation.

Regime Inputs

Metric	Reading	Interpretation
Major Index Health	75.36	Broad market beta quality
Sector Health	33.54	Participation across sector proxies
Growth/Tech Health	69.61	Leadership concentration in growth
Rates/Credit Health	56.45	Credit and duration tone
Avg Damage Breadth	46.52	Lower is better
% ETFs Above 50DMA	61.40	Intermediate trend participation
% ETFs Above 200DMA	74.56	Long-term trend participation
Average 1W Return	0.61	Current weekly impulse

Regime Framework

Regime	Typical Setup	Strategy Bias
Broad Risk-On	Major indexes and sectors both have strong health with low damage.	Own broad beta, add cyclicals selectively, reduce cash drag.
Narrow Growth-Led Risk-On	Growth/tech health dominates while sector breadth is less convincing.	Favor quality growth and tech leadership, avoid pretending the whole tape is equally strong.
Constructive Carry / Quality Risk	Major indexes are firm and rates/credit tone is stable.	Participate, but emphasize quality and avoid weak-credit beta.
Commodity / Inflation-Led Rotation	Commodity and real-asset groups lead while growth weakens.	Shift toward real assets, energy/materials, inflation hedges.
Defensive / Repair	Damage rises or fewer ETFs remain above 50DMA.	Cut beta, raise quality, focus on repair candidates.
Mixed / Selective	Signals are strong in pockets but uneven across the whole map.	Use the dashboard to choose exposures surgically.

Rates / Credit Overview

This page translates the yield-curve institutional chartdeck into the equity strategy process. Rates and credit are the risk governor: they decide whether strong equity breadth should be chased, sized normally, or faded because compensation is poor.

Rates / Credit Group Score

Live ETF behavior from the Rates / Credit sleeve in prices.csv.

Group Health56.45

1W Return0.5%

1M Return0.0%

Trend Breadth64.3%

Damage Breadth28.9%

Yield Deck CIO Read

One-Page CIO View Portfolio-level read-through: what changed this week, what matters now, what to watch next, and best/worst risk expressions. CIO Read This is the one-page portfolio translation: what changed, what matters now, what to watch next, and the best/worst risk expressions implied by the rates-credit regime. What Changed This Week MOVE -8.69 10Y Yield -11 bps 2s10s 3 bps HY OAS -2 bps What Matters Now HY OAS 2.72 / 12 pctile IG OAS 0.73 / 1 pctile MOVE 69.74 / 15 pctile 10Y Real 2.06 / 73 pctile What To Watch Next Rates vol MOVE rising while spreads stay tight Curve confirmation 2s10s vs 3m10y signal divergence Quality cliff BBB/BB and CCC spread gaps Forward analogs Whether curren

Trade Translation Extract

Trade Dashboard Methodology Data Guardrails Forward Returns Executive Summary Macro Dashboard Curve Risk Policy / Inflation Credit Deep Dive Quality Premium Cross-Asset Yield Curve Credit Strategy Chartdeck Institutional rates and credit analysis using FRED Treasury, inflation, term-premium, corporate spread, recession, and Yahoo Finance market-proxy data. Latest Data 2026-05-28 Chart Start 2012-01-01 Charts 13 Series 60 Credit Summary Top-of-deck credit strategy page with spread compensation, curve pressure, real-rate pressure, and volatility stress markers. Credit Strategy Summary Current stance: Complacent / Tight-Risk Premium. HY OAS is 2.72 with a 12 percentile reading; IG OAS is 0.73 with a 1 percentile reading. The 10Y real yield is 2.06%, 2s10s is 46 bps, and 3m10y is 76 bps. What matters for credit: spread compensation, real-rate pressure, curve inversion persistence, and rates volatility are pulled onto one page before the full deck drills into the components. Credit Risk Pre

Rates / Credit Dashboard Logic

Area	Signal	Current Read
Credit Risk Premium	HY and IG spreads from the yield-curve deck frame whether credit beta is being paid enough.	Tight spread compensation; favor quality over lower-quality beta.
Rates Pressure	2Y, 10Y, real yield, breakevens, and curve shape determine the duration/risk-asset discount-rate backdrop.	Real-yield pressure matters for equity duration and growth leadership.
Curve / Recession Signal	2s10s and 3m10y show whether the curve is steepening, inverted, or normalizing.	Use curve shifts as a macro confirmation or warning signal.
Volatility Stress	MOVE and spread widening flag whether calm credit conditions are breaking.	If MOVE rises while spreads remain tight, reduce credit complacency.
Trade Translation	The yield deck converts rates, credit, curve, and volatility into candidate expressions.	Quality credit and duration are the governor on equity beta.

Rates / Credit ETF Sleeve

Ticker	Name	Health Source	Health Score	Health 1W Change	1W	1M	3M	6M	1Y	Trend Breadth	Leadership Breadth	Damage Breadth	Above 50DMA	Above 200DMA
STIP	STIP	Price proxy	71.35	-6.32	0.2%	0.0%	1.2%	1.8%	2.1%	100.0%	31.3%	18.4%	True	True
SHY	1-3 Year Treasury	Price proxy	61.56	-7.37	0.1%	-0.0%	0.6%	0.5%	1.6%	80.0%	28.1%	21.1%	True	True
TIP	TIPS	Price proxy	62.82	-1.05	0.5%	-0.1%	1.5%	1.3%	1.1%	80.0%	34.8%	25.4%	True	True
IEF	7-10 Year Treasury	Price proxy	24.25	-0.70	0.5%	-0.4%	0.4%	-0.3%	0.1%	0.0%	29.8%	44.7%	False	False
TLT	20+ Year Treasury	Price proxy	22.40	4.21	0.7%	-0.4%	-0.2%	-1.3%	-1.5%	0.0%	33.9%	57.9%	False	False
AGG	AGG	Price proxy	26.86	-3.16	0.4%	-0.2%	0.9%	0.1%	1.1%	0.0%	31.0%	36.0%	False	False
CWB	CWB	Price proxy	89.51	6.32	1.2%	2.5%	17.2%	14.0%	19.9%	100.0%	72.2%	3.1%	True	True
EMLC	EMLC	Price proxy	43.27	0.35	0.5%	-0.6%	3.2%	-0.8%	3.6%	40.0%	36.5%	42.1%	False	True
EMB	EMB	Price proxy	75.00	5.61	0.9%	0.1%	3.6%	1.2%	4.4%	100.0%	47.4%	26.3%	True	True
HYG	High Yield Credit	Price proxy	75.47	-4.91	0.3%	0.3%	2.6%	0.7%	2.6%	100.0%	37.4%	10.5%	True	True
LQD	Investment Grade Credit	Price proxy	70.48	0.70	0.5%	0.2%	1.8%	-0.2%	0.4%	100.0%	39.5%	33.3%	True	True
BKLN	BKLN	Price proxy	61.47	-7.02	0.1%	-0.3%	1.1%	0.1%	2.3%	80.0%	27.2%	20.2%	True	True
MBB	MBB	Price proxy	42.77	-3.86	0.3%	-0.2%	1.1%	0.4%	2.2%	40.0%	30.1%	35.1%	False	True
PFF	PFF	Price proxy	63.14	-0.35	0.5%	-0.4%	4.3%	-0.2%	1.2%	80.0%	39.5%	30.7%	True	True

Rates / Credit Group Snapshot

Group	ETFs	Strategy Score	Health	Health_1W_Chg	Return_1W	Return_1M	Return_3M	Trend_Breadth	Damage_Breadth	Above_50DMA	Above_200DMA
Rates / Credit	14	27.81	56.45	-1.25	0.5%	0.0%	2.8%	64.3%	28.9%	64.3%	78.6%

Rates/Credit Condition	Equity Strategy Implication	Portfolio Translation
Spreads tight + breadth strong	Risk-on can continue, but forward compensation is less forgiving.	Participate through quality leadership, avoid weak-credit beta chase.
Spreads widening + breadth deteriorating	Equity signal is being invalidated by credit stress.	Cut beta, raise quality, increase cash/duration ballast.
Yields falling + defensives leading	Could be duration relief or growth scare; breadth decides which.	Check whether cyclicals confirm before adding broad beta.
Real yields rising + growth extended	Higher discount-rate pressure can hit long-duration equity leadership.	Keep tech/growth exposure selective and watch breadth divergence.

Positioning Overview

This page translates the CFTC positioning deck into the weekly strategy process without embedding the full source deck. Positioning is the sponsorship and crowding layer: it helps decide whether price and breadth strength are still early, well-owned, or vulnerable to a positioning unwind.

CFTC Dashboard Read

Weekly Tactical Highlights

Weekly And Tactical Highlights Largest one-week positioning moves, plus the 4-week and 13-week context that separates noise from a real allocation shift. Asset WoW Inst/HF 4W Inst/HF 13W Inst/HF 13W Price Read 10-Year Treasury Notes -250.2K -97.5K -108.6K -3.1% Risk-Off Confirmation 5-Year Treasury Notes 70.5K 374.9K 327.6K -2.3% Buying Into Weakness S&P 500 -58.0K -41.5K 8.1K 9.5% Trend Confirmed 2-Year Treasury Notes -43.3K -3.2K 227.9K -1.0% Buying Into Weakness Natural Gas -38.1K -37.2K -58.6K -4.8% Risk-Off Confirmation Japanese Yen -22.4K -26.9K -133.9K -2.3% Risk-Off Confirmation Crude Oil -18.3K -407.0 12.2K 69.6% Trend Confirmed Nasdaq 100 -13.5K -9.4K -19.4K 20.3% Price Up / Positioning Fading Euro FX -9.9K -25.3K -154.9K -1.1% Risk-Off Confirmation VIX -4.8K 2.9K 2.2K -13.0% Buying Into Weakness

Cross-Asset Positioning Snapshot

Cross-Asset Dashboard Weekly Highlights Full Metric Library S&P 500 Nasdaq 100 Russell 2000 Natural Gas Crude Oil Gold Silver Copper Bitcoin US Dollar Euro FX Japanese Yen VIX 2-Year Treasury Notes 5-Year Treasury Notes 10-Year Treasury Notes Positioning data is sourced directly from the official CFTC Public Reporting API. Prices use Yahoo Finance. Apex Macro Research CFTC Positioning Dashboard An institutional view of who is long, who is short, where positioning is crowded, and whether futures behavior confirms or conflicts with price. Includes net spec, asset manager, hedge fund/leveraged money, retail/non-reportable, commercial/dealer, open interest, gross crowding, z-score, percentile, and week-over-week change lenses. Assets Covered 16 CFTC Range 2026-05-26 to 2026-05-26 Core Lens Asset Managers + Hedge Funds Most Crowded Long Highest 3-year percentile for Asset Manager + Leveraged Money net positioning. 5-Year Treasury Notes 100.0% Copper 96.2% 2-Year Treasury Notes 94.9% Most Cr

Actionable Positioning Playbook

Setup	Signal	Action
Crowded long + price/breadth confirmation	High positioning percentile, positive 13W price, and supportive breadth.	Maintain exposure, but add only on clean pullbacks or fresh breadth expansion.
Crowded long + positioning fading	Price rises while institutional/HF positioning rolls over.	Treat as narrowing sponsorship; reduce chase risk and watch for reversal.
Crowded short + price stabilization	Low positioning percentile while price and/or breadth stop deteriorating.	Add to repair watchlist; squeeze risk can be favorable if macro backdrop confirms.
Large WoW positioning add	One-week institutional/HF flow is one of the largest in the table.	Check whether this is confirmation of a trend or late crowding into an extended move.
Large WoW positioning cut	One-week institutional/HF selling is concentrated in an asset.	Use as a risk warning when price is also weak; use as contrarian fuel only if price holds.

Positioning Visual Dashboard

Use these visuals first. They condense the long CFTC tables into three questions: what is crowded, what is confirming price, and where did positioning change most this week?

Asset	Price 13W	OI 13W	Inst/HF %OI	Inst/HF 3Y %ile	Inst/HF 13W	COT Read	Pressure Read
S&P 500	9.5%	3.8%	26.1%	48.1%	8.1K	Balanced	Trend Confirmed
Nasdaq 100	20.3%	12.0%	11.0%	41.0%	-19.4K	Balanced	Price Up / Positioning Fading
Russell 2000	10.5%	7.2%	-17.5%	3.2%	-93.7K	Crowded Short	Price Up / Positioning Fading
Natural Gas	-4.8%	1.3%	-8.2%	2.6%	-58.6K	Crowded Short	Risk-Off Confirmation
Crude Oil	69.6%	-4.7%	4.0%	30.1%	12.2K	Short Tilt	Trend Confirmed
Gold	-12.8%	-15.9%	27.6%	30.1%	1.5K	Short Tilt	Buying Into Weakness
Silver	-11.8%	-18.9%	9.9%	22.4%	1.5K	Short Tilt	Buying Into Weakness
Copper	7.5%	1.9%	26.5%	96.2%	19.5K	Crowded Long	Trend Confirmed
Bitcoin	18.3%	-5.6%	-19.8%	51.3%	-1.8K	Balanced	Price Up / Positioning Fading
US Dollar	2.4%	61.3%	8.6%	48.7%	6.3K	Balanced	Trend Confirmed
Euro FX	-1.1%	-9.6%	33.6%	28.8%	-154.9K	Short Tilt	Risk-Off Confirmation
Japanese Yen	-2.3%	15.6%	-30.2%	12.8%	-133.9K	Crowded Short	Risk-Off Confirmation
VIX	-13.0%	7.0%	12.7%	73.7%	2.2K	Long Tilt	Buying Into Weakness
2-Year Treasury Notes	-1.0%	6.9%	4.4%	94.9%	227.9K	Crowded Long	Buying Into Weakness
5-Year Treasury Notes	-2.3%	-7.2%	9.3%	100.0%	327.6K	Crowded Long	Buying Into Weakness
10-Year Treasury Notes	-3.1%	4.8%	1.0%	66.7%	-108.6K	Long Tilt	Risk-Off Confirmation

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Asset-By-Asset Strategist Takeaways

This table is meant to be enough for the weekly meeting: what price did, how crowded institutional/HF positioning is, whether the pressure read confirms or diverges, and the resulting strategy implication.

Asset	13W Price	Positioning Percentile	COT Read	Pressure Read	Strategist Takeaway
S&P 500	9.5%	48.1%	Balanced	Trend Confirmed	Balanced / mid-range. Trend is confirmed by positioning; maintain bias while monitoring crowding.
Nasdaq 100	20.3%	41.0%	Balanced	Price Up / Positioning Fading	Balanced / mid-range. Price and positioning are diverging; treat sponsorship as weaker than price alone implies.
Russell 2000	10.5%	3.2%	Crowded Short	Price Up / Positioning Fading	Crowded short. Price and positioning are diverging; treat sponsorship as weaker than price alone implies.
Natural Gas	-4.8%	2.6%	Crowded Short	Risk-Off Confirmation	Crowded short. Watch for squeeze/repair if price stabilizes.
Crude Oil	69.6%	30.1%	Short Tilt	Trend Confirmed	Balanced / mid-range. Trend is confirmed by positioning; maintain bias while monitoring crowding.
Gold	-12.8%	30.1%	Short Tilt	Buying Into Weakness	Balanced / mid-range. Positioning is not the binding constraint.
Silver	-11.8%	22.4%	Short Tilt	Buying Into Weakness	Balanced / mid-range. Positioning is not the binding constraint.
Copper	7.5%	96.2%	Crowded Long	Trend Confirmed	Crowded long. Trend is confirmed by positioning; maintain bias while monitoring crowding.
Bitcoin	18.3%	51.3%	Balanced	Price Up / Positioning Fading	Balanced / mid-range. Price and positioning are diverging; treat sponsorship as weaker than price alone implies.
US Dollar	2.4%	48.7%	Balanced	Trend Confirmed	Balanced / mid-range. Trend is confirmed by positioning; maintain bias while monitoring crowding.
Euro FX	-1.1%	28.8%	Short Tilt	Risk-Off Confirmation	Balanced / mid-range. Positioning is not the binding constraint.
Japanese Yen	-2.3%	12.8%	Crowded Short	Risk-Off Confirmation	Crowded short. Watch for squeeze/repair if price stabilizes.
VIX	-13.0%	73.7%	Long Tilt	Buying Into Weakness	Balanced / mid-range. Positioning is not the binding constraint.
2-Year Treasury Notes	-1.0%	94.9%	Crowded Long	Buying Into Weakness	Crowded long. Do not chase without fresh breadth or price confirmation.
5-Year Treasury Notes	-2.3%	100.0%	Crowded Long	Buying Into Weakness	Crowded long. Do not chase without fresh breadth or price confirmation.
10-Year Treasury Notes	-3.1%	66.7%	Long Tilt	Risk-Off Confirmation	Balanced / mid-range. Positioning is not the binding constraint.

Cross-Asset CFTC Dashboard

This is the highest-level positioning table from the source deck: price trend, open interest, institutional/HF positioning percentile, net positioning, and pressure read.

Asset	Latest Date	Price 13W	OI 13W	Inst/HF %OI	Inst/HF 3Y %ile	Inst/HF 13W	Asset Manager Net	Lev Money Net	COT Read	Pressure Read
S&P 500	2026-05-26	9.5%	3.8%	26.1%	48.1%	8.1K	1.0M	-457.8K	Balanced	Trend Confirmed
Nasdaq 100	2026-05-26	20.3%	12.0%	11.0%	41.0%	-19.4K	85.1K	-51.7K	Balanced	Price Up / Positioning Fading
Russell 2000	2026-05-26	10.5%	7.2%	-17.5%	3.2%	-93.7K	-6.1K	-68.2K	Crowded Short	Price Up / Positioning Fading
Natural Gas	2026-05-26	-4.8%	1.3%	-8.2%	2.6%	-58.6K	nan	-134.4K	Crowded Short	Risk-Off Confirmation
Crude Oil	2026-05-26	69.6%	-4.7%	4.0%	30.1%	12.2K	nan	79.9K	Short Tilt	Trend Confirmed
Gold	2026-05-26	-12.8%	-15.9%	27.6%	30.1%	1.5K	nan	97.4K	Short Tilt	Buying Into Weakness
Silver	2026-05-26	-11.8%	-18.9%	9.9%	22.4%	1.5K	nan	10.1K	Short Tilt	Buying Into Weakness
Copper	2026-05-26	7.5%	1.9%	26.5%	96.2%	19.5K	nan	70.5K	Crowded Long	Trend Confirmed
Bitcoin	2026-05-26	18.3%	-5.6%	-19.8%	51.3%	-1.8K	4.4K	-8.6K	Balanced	Price Up / Positioning Fading
US Dollar	2026-05-26	2.4%	61.3%	8.6%	48.7%	6.3K	16.2K	-12.5K	Balanced	Trend Confirmed
Euro FX	2026-05-26	-1.1%	-9.6%	33.6%	28.8%	-154.9K	269.9K	7.3K	Short Tilt	Risk-Off Confirmation
Japanese Yen	2026-05-26	-2.3%	15.6%	-30.2%	12.8%	-133.9K	-58.7K	-70.5K	Crowded Short	Risk-Off Confirmation
VIX	2026-05-26	-13.0%	7.0%	12.7%	73.7%	2.2K	-367.0	49.3K	Long Tilt	Buying Into Weakness
2-Year Treasury Notes	2026-05-26	-1.0%	6.9%	4.4%	94.9%	227.9K	2.0M	-1.8M	Crowded Long	Buying Into Weakness
5-Year Treasury Notes	2026-05-26	-2.3%	-7.2%	9.3%	100.0%	327.6K	2.7M	-2.1M	Crowded Long	Buying Into Weakness
10-Year Treasury Notes	2026-05-26	-3.1%	4.8%	1.0%	66.7%	-108.6K	2.1M	-2.0M	Long Tilt	Risk-Off Confirmation

Most Crowded Longs

Asset	Price 13W	Inst/HF %OI	Inst/HF 3Y %ile	Inst/HF 13W	COT Read	Pressure Read
5-Year Treasury Notes	-2.3%	9.3%	100.0%	327.6K	Crowded Long	Buying Into Weakness
Copper	7.5%	26.5%	96.2%	19.5K	Crowded Long	Trend Confirmed
2-Year Treasury Notes	-1.0%	4.4%	94.9%	227.9K	Crowded Long	Buying Into Weakness
VIX	-13.0%	12.7%	73.7%	2.2K	Long Tilt	Buying Into Weakness
10-Year Treasury Notes	-3.1%	1.0%	66.7%	-108.6K	Long Tilt	Risk-Off Confirmation
Bitcoin	18.3%	-19.8%	51.3%	-1.8K	Balanced	Price Up / Positioning Fading

Most Crowded Shorts

Asset	Price 13W	Inst/HF %OI	Inst/HF 3Y %ile	Inst/HF 13W	COT Read	Pressure Read
Natural Gas	-4.8%	-8.2%	2.6%	-58.6K	Crowded Short	Risk-Off Confirmation
Russell 2000	10.5%	-17.5%	3.2%	-93.7K	Crowded Short	Price Up / Positioning Fading
Japanese Yen	-2.3%	-30.2%	12.8%	-133.9K	Crowded Short	Risk-Off Confirmation
Silver	-11.8%	9.9%	22.4%	1.5K	Short Tilt	Buying Into Weakness
Euro FX	-1.1%	33.6%	28.8%	-154.9K	Short Tilt	Risk-Off Confirmation
Crude Oil	69.6%	4.0%	30.1%	12.2K	Short Tilt	Trend Confirmed

Week-Over-Week Positioning Changes

Largest institutional/HF positioning adds and cuts. Use these to separate fresh sponsorship from crowded late-cycle chasing.

Largest WoW Buying

Asset	WoW Inst/HF	4W Inst/HF	13W Inst/HF	13W Price	Read
5-Year Treasury Notes	70.5K	374.9K	327.6K	-2.3%	Buying Into Weakness
VIX	-4.8K	2.9K	2.2K	-13.0%	Buying Into Weakness
Euro FX	-9.9K	-25.3K	-154.9K	-1.1%	Risk-Off Confirmation
Nasdaq 100	-13.5K	-9.4K	-19.4K	20.3%	Price Up / Positioning Fading
Crude Oil	-18.3K	-407.0	12.2K	69.6%	Trend Confirmed
Japanese Yen	-22.4K	-26.9K	-133.9K	-2.3%	Risk-Off Confirmation

Largest WoW Selling

Asset	WoW Inst/HF	4W Inst/HF	13W Inst/HF	13W Price	Read
10-Year Treasury Notes	-250.2K	-97.5K	-108.6K	-3.1%	Risk-Off Confirmation
S&P 500	-58.0K	-41.5K	8.1K	9.5%	Trend Confirmed
2-Year Treasury Notes	-43.3K	-3.2K	227.9K	-1.0%	Buying Into Weakness
Natural Gas	-38.1K	-37.2K	-58.6K	-4.8%	Risk-Off Confirmation
Japanese Yen	-22.4K	-26.9K	-133.9K	-2.3%	Risk-Off Confirmation
Crude Oil	-18.3K	-407.0	12.2K	69.6%	Trend Confirmed

Confirmation And Divergence

Trend Confirmed

Asset	Price 13W	Inst/HF 13W	Inst/HF 3Y %ile	COT Read	Pressure Read
S&P 500	9.5%	8.1K	48.1%	Balanced	Trend Confirmed
Crude Oil	69.6%	12.2K	30.1%	Short Tilt	Trend Confirmed
Copper	7.5%	19.5K	96.2%	Crowded Long	Trend Confirmed
US Dollar	2.4%	6.3K	48.7%	Balanced	Trend Confirmed

Price Up / Positioning Fading

Asset	Price 13W	Inst/HF 13W	Inst/HF 3Y %ile	COT Read	Pressure Read
Nasdaq 100	20.3%	-19.4K	41.0%	Balanced	Price Up / Positioning Fading
Russell 2000	10.5%	-93.7K	3.2%	Crowded Short	Price Up / Positioning Fading
Bitcoin	18.3%	-1.8K	51.3%	Balanced	Price Up / Positioning Fading

Important Weekly Positioning Charts

Chart / Table	Weekly Question
Cross-Asset Dashboard	Which assets are crowded long, crowded short, or trend confirmed?
Weekly And Tactical Highlights	Where did institutional/HF positioning change most over 1W, 4W, and 13W?
S&P 500 Positioning	Is broad equity beta sponsored by positioning or exposed to a crowding unwind?
Nasdaq 100 Positioning	Is growth leadership still supported or becoming a crowded long?
Russell 2000 Positioning	Is small-cap exposure washed out enough to support repair or still structurally weak?
2Y / 5Y / 10Y Treasury Positioning	Is the rates view being driven by front-end policy expectations, belly duration, or long-end duration?
US Dollar, Euro FX, And Japanese Yen	Are FX futures flows confirming or challenging the dollar/liquidity backdrop?
Crude Oil And Natural Gas	Are energy positioning flows confirming inflation-sensitive commodity pressure or fading it?
Gold, Silver, Copper, And Bitcoin	Are real-asset and liquidity-sensitive positioning flows supporting the macro risk read?

Selected Full Metric Library

Condensed source-table fields that matter most for weekly strategy: price, open interest, institutional/HF net exposure, z-score, percentile, and positioning changes over 1W, 4W, and 13W.

Asset	Latest Date	Latest Price	Price 4W	Price 13W	Open Interest	OI 4W	OI 13W	Inst/HF Net	Inst/HF %OI	Inst/HF 1Y Z	Inst/HF 3Y %ile	Inst/HF WoW	Inst/HF 4W	Inst/HF 13W
S&P 500	2026-05-26	750.6	5.5%	9.5%	2.1M	6.8%	3.8%	545.8K	26.1%	0.3	48.1%	-58.0K	-41.5K	8.1K
Nasdaq 100	2026-05-26	730.3	11.1%	20.3%	303.0K	9.8%	12.0%	33.4K	11.0%	-0.89	41.0%	-13.5K	-9.4K	-19.4K
Russell 2000	2026-05-26	290.5	6.1%	10.5%	424.7K	3.1%	7.2%	-74.3K	-17.5%	-1.06	3.2%	-4.8K	-28.9K	-93.7K
Natural Gas	2026-05-26	10.9	5.6%	-4.8%	1.6M	3.9%	1.3%	-134.4K	-8.2%	-2.39	2.6%	-38.1K	-37.2K	-58.6K
Crude Oil	2026-05-26	137.0	-1.9%	69.6%	2.0M	-0.7%	-4.7%	79.9K	4.0%	0.41	30.1%	-18.3K	-407.0	12.2K
Gold	2026-05-26	414.0	-1.9%	-12.8%	353.5K	-4.3%	-15.9%	97.4K	27.6%	-0.92	30.1%	3.9K	7.7K	1.5K
Silver	2026-05-26	69.7	5.3%	-11.8%	101.7K	0.5%	-18.9%	10.1K	9.9%	-0.94	22.4%	-1.5K	-551.0	1.5K
Copper	2026-05-26	39.0	7.7%	7.5%	266.2K	15.5%	1.9%	70.5K	26.5%	1.28	96.2%	-3.7K	9.6K	19.5K
Bitcoin	2026-05-26	75.8K	-0.7%	18.3%	21.6K	-0.3%	-5.6%	-4.3K	-19.8%	0.93	51.3%	-142.0	653.0	-1.8K
US Dollar	2026-05-26	27.8	0.8%	2.4%	42.3K	38.1%	61.3%	3.6K	8.6%	1.14	48.7%	760.0	-1.1K	6.3K
Euro FX	2026-05-26	107.3	-0.6%	-1.1%	824.2K	2.8%	-9.6%	277.2K	33.6%	-1.77	28.8%	-9.9K	-25.3K	-154.9K
Japanese Yen	2026-05-26	57.6	0.2%	-2.3%	427.3K	14.6%	15.6%	-129.3K	-30.2%	-2.09	12.8%	-22.4K	-26.9K	-133.9K
VIX	2026-05-26	17.0	-4.6%	-13.0%	384.6K	6.1%	7.0%	49.0K	12.7%	-0.28	73.7%	-4.8K	2.9K	2.2K
2-Year Treasury Notes	2026-05-26	103.3	-0.4%	-1.0%	5.0M	4.7%	6.9%	218.7K	4.4%	1.0	94.9%	-43.3K	-3.2K	227.9K
5-Year Treasury Notes	2026-05-26	107.1	-0.8%	-2.3%	6.8M	5.6%	-7.2%	636.5K	9.3%	1.88	100.0%	70.5K	374.9K	327.6K
10-Year Treasury Notes	2026-05-26	109.8	-0.9%	-3.1%	6.3M	16.4%	4.8%	64.4K	1.0%	0.38	66.7%	-250.2K	-97.5K	-108.6K

Trader Category Split

Use this to see whether the move is asset-manager led, leveraged-money led, retail-supported, or being absorbed by commercials.

Asset	Asset Manager Net	Lev Money Net	Retail Net	Retail %OI	Commercial Net	Commercial 3Y %ile	Asset Mgr L/S	Lev Money L/S	Broad Spec Gross %OI	Institutional/HF Gross %OI
S&P 500	1.0M	-457.8K	110.9K	5.3%	-677.0K	48.7%	5.99	0.25	109.4%	103.3%
Nasdaq 100	85.1K	-51.7K	6.6K	2.2%	-45.0K	62.8%	3.63	0.51	105.5%	101.4%
Russell 2000	-6.1K	-68.2K	5.8K	1.4%	68.8K	95.5%	0.96	0.48	123.2%	118.3%
Natural Gas	nan	-134.4K	13.0K	0.8%	-10.7K	82.7%	nan	0.57	40.5%	30.2%
Crude Oil	nan	79.9K	34.5K	1.7%	366.1K	99.4%	nan	1.66	29.7%	16.0%
Gold	nan	97.4K	31.5K	8.9%	-19.5K	94.9%	nan	4.63	69.9%	42.7%
Silver	nan	10.1K	18.7K	18.3%	-19.5K	90.4%	nan	2.52	42.6%	22.9%
Copper	nan	70.5K	10.7K	4.0%	-110.9K	1.9%	nan	5.67	51.9%	37.8%
Bitcoin	4.4K	-8.6K	108.0	0.5%	4.1K	53.8%	3.72	0.35	121.5%	118.0%
US Dollar	16.2K	-12.5K	1.6K	3.7%	-7.0K	36.5%	8.88	0.48	143.6%	131.3%
Euro FX	269.9K	7.3K	36.1K	4.4%	-322.1K	69.9%	2.59	1.07	104.7%	99.9%
Japanese Yen	-58.7K	-70.5K	7.0K	1.6%	73.4K	71.8%	0.54	0.55	116.9%	103.5%
VIX	-367.0	49.3K	2.7K	0.7%	-51.6K	23.7%	1.01	0.57	82.6%	81.9%
2-Year Treasury Notes	2.0M	-1.8M	54.6K	1.1%	-379.4K	12.8%	4.18	0.17	126.3%	115.8%
5-Year Treasury Notes	2.7M	-2.1M	64.3K	0.9%	-696.5K	26.9%	3.41	0.18	121.9%	115.9%
10-Year Treasury Notes	2.1M	-2.0M	291.8K	4.7%	-459.0K	3.2%	3.33	0.17	114.0%	106.6%

Positioning Setup	Cross-Check	Strategy Translation
Crowded long + strong breadth	Price trend, ETF health, and CFTC positioning all agree.	Maintain exposure, but avoid chasing if weekly breadth momentum fades.
Crowded long + weak breadth	Positioning is extended while internal confirmation deteriorates.	Reduce position size, tighten stops, or shift toward less crowded expressions.
Crowded short + improving breadth	Positioning is washed out while price/breadth repair begins.	Potential squeeze or early rotation candidate.
Neutral positioning + improving price	Price and breadth improve before the crowd has fully moved in.	Cleaner entry setup if rates/credit are not deteriorating.

VAMS Signal

This page pulls the current VAMS flip tape directly into the strategist deck. It focuses on the fresh weekly buys and sells, then shows the individual price/VAMS chart and VAMS strategy backtest for each new buy first and each new sell underneath.

Current VAMS Tape

Volatility-adjusted momentum signal state across the ETF universe.

As of2026-05-29

Buy rate56%

Fresh buys13

Fresh sells5

How To Use

Fresh buys are candidates where momentum has improved enough to flip into risk-on state. Fresh sells identify exposures where VAMS has moved into risk-withheld state. The backtest panel underneath each signal shows whether the model has historically improved the buy-and-hold profile for that specific ticker.

Source

Generated from the weekly VAMS Signal Chartdeck without embedding the whole HTML deck.

Deck fileVAMS_Signal_Chartdeck.html

Signal logicVAMS plus volume confirmation

Fresh Signal Flip Tables

Fresh VAMS Buys

Ticker	Name	Group	WoW Signal Change	Current Signal	Current VAMS	VAMS 5D Change	Signal Since	5D Return	1M Return	3M Return	Signal Strength
ARGT	Argentina	International Equity	New Buy	Buy	0.83	0.47	2026-05-27	6.3%	7.3%	9.9%	9.05
XLK	Technology	US Sector	New Buy	Buy	0.56	-0.03	2026-05-26	3.6%	6.5%	43.8%	6.37
LQD	Investment Grade Corporate Bonds	Bonds / Credit	New Buy	Buy	0.54	-0.17	2026-05-26	0.8%	0.1%	1.5%	6.23
QQQ	Nasdaq 100	US Index / Size	New Buy	Buy	0.53	0.10	2026-05-26	2.5%	3.4%	30.8%	6.09
TLT	20+ Year Treasury Bonds	Bonds / Credit	New Buy	Buy	0.53	-0.26	2026-05-25	1.3%	-0.4%	0.1%	6.08
XLY	Consumer Discretionary	US Sector	New Buy	Buy	0.48	-0.16	2026-05-27	2.4%	1.5%	15.5%	5.58
XLB	Materials	US Sector	New Buy	Buy	0.45	-0.06	2026-05-26	2.1%	-0.4%	5.0%	5.30
SMH	Semiconductors	Industries	New Buy	Buy	0.41	-0.15	2026-05-26	4.1%	5.9%	60.3%	4.90
SHY	1-3 Year Treasury Notes	Bonds / Credit	New Buy	Buy	0.38	0.19	2026-05-28	0.2%	-0.0%	-0.2%	4.67
ACWX	World Ex. U.S.	International Equity	New Buy	Buy	0.32	-0.03	2026-05-26	1.8%	0.9%	15.3%	4.06
VO	Midcaps	US Index / Size	New Buy	Buy	0.27	-0.39	2026-05-26	0.9%	2.1%	11.5%	3.58
XLI	Industrials	US Sector	New Buy	Buy	0.21	-0.09	2026-05-27	1.2%	0.3%	9.2%	3.00
EWJ	Japan	International Equity	New Buy	Buy	0.21	-0.02	2026-05-26	1.2%	0.5%	13.8%	2.96

Fresh VAMS Sells

Ticker	Name	Group	WoW Signal Change	Current Signal	Current VAMS	VAMS 5D Change	Signal Since	5D Return	1M Return	3M Return	Signal Strength
IAK	Insurance	Industries	New Sell	Sell	-0.93	-0.93	2026-05-26	-3.4%	-0.5%	3.2%	10.00
XLE	Energy	US Sector	New Sell	Sell	-0.62	-0.20	2026-05-27	-4.3%	2.2%	-9.0%	6.94
XLF	Financials	US Sector	New Sell	Sell	-0.37	-0.79	2026-05-27	-1.3%	0.1%	7.2%	4.51
XLV	Healthcare	US Sector	New Sell	Sell	0.16	-0.27	2026-05-27	0.7%	5.2%	5.3%	2.53
XLP	Consumer Staples	US Sector	New Sell	Sell	-0.12	0.30	2026-05-26	-0.4%	0.3%	3.2%	2.10

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EWJ - Japan

International Equity | New Buy

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Install plotly to render charts: pip install plotly

Model Allocation

A signal-driven model allocation based on the current group scores and regime. It is a strategy translation layer, not a position-sizing recommendation.

Sleeve	Proxy	View	Model Weight	Signal	Rationale
US Index Beta	SPY / QQQ / RSP	Neutral	38.9%	46.03	Neutral based on group signal score 46.0 under Narrow Growth-Led Risk-On.
US Sector Leaders	XLK / strongest sector proxies	Underweight	18.6%	21.12	Underweight based on group signal score 21.1 under Narrow Growth-Led Risk-On.
Thematic Growth / Tech	SMH / AIQ / QTUM / IGV basket	Neutral	16.1%	40.51	Neutral based on group signal score 40.5 under Narrow Growth-Led Risk-On.
Industries / Infrastructure	PAVE / ITA / XTL / CARZ basket	Underweight	6.8%	25.16	Underweight based on group signal score 25.2 under Narrow Growth-Led Risk-On.
International Equity	EEM / EZU / INDA / DXJ	Underweight	6.4%	21.64	Underweight based on group signal score 21.6 under Narrow Growth-Led Risk-On.
Quality Credit / Duration	AGG / LQD / IEF / TLT	Underweight	12.0%	27.81	Underweight based on group signal score 27.8 under Narrow Growth-Led Risk-On.
Commodities / Real Assets	GLD / DBC / USO / miners	Underweight	1.2%	-0.54	Underweight based on group signal score -0.5 under Narrow Growth-Led Risk-On.
Cash / Dry Powder	Cash / T-bills	Underweight	0.0%	3.97	Underweight based on group signal score 4.0 under Narrow Growth-Led Risk-On.

Interpretation: weights are normalized to 100%. Overweights come from stronger group strategy scores and a constructive regime. Underweights come from weak group scores, elevated damage, or a defensive regime.

Top-Down Map

Starts with broad indexes, then sectors, then industry/theme groups. This is the decision path: first decide market beta, then sector exposure, then the smaller expressions.

Group Heatmap Table

This replaces the old single-scale chart heatmap. Each column is colored in a way that fits the metric, so returns, breadth scores, and damage can be read together without distorting the colors.

Group	1W	1M	3M	6M	1Y	Health	Health Chg	Trend	Leadership	Damage	>50DMA	>200DMA
Factors / Style	1.0%	3.0%	14.2%	9.6%	14.5%	79.93	0.47	100.0%	61.3%	26.1%	100.0%	100.0%
Major Indexes	0.8%	2.6%	16.5%	8.6%	13.9%	75.36	1.39	92.0%	57.0%	14.8%	100.0%	100.0%
Thematic Growth / Tech	1.2%	5.9%	24.8%	12.5%	19.9%	69.61	2.55	88.1%	64.4%	49.6%	92.9%	85.7%
Rates / Credit	0.5%	0.0%	2.8%	1.2%	2.9%	56.45	-1.25	64.3%	37.1%	28.9%	64.3%	78.6%
Industries / Infrastructure / Housing	1.3%	2.3%	10.1%	12.0%	27.3%	55.28	4.48	65.9%	54.9%	61.2%	52.9%	82.4%
International Equity	0.7%	-0.7%	7.8%	3.4%	12.5%	53.19	0.04	60.0%	46.8%	48.8%	50.0%	75.0%
US Sectors / Key Industry Proxies	0.4%	1.3%	7.5%	4.5%	9.8%	33.54	-0.34	52.3%	9.4%	15.9%	58.3%	75.0%
Financial / Health Care Industries	-0.3%	0.5%	6.5%	-3.5%	7.0%	47.87	-5.72	54.0%	43.2%	55.4%	60.0%	50.0%
Metals / Miners	1.4%	-3.5%	7.3%	-7.3%	32.5%	31.26	5.47	28.0%	44.4%	81.8%	20.0%	40.0%
Commodities / Crypto / USD	-1.1%	-3.4%	6.8%	1.3%	26.9%	33.20	-8.80	38.3%	32.6%	74.2%	25.0%	58.3%

Group Summary

Group	ETFs	Strategy Score	Health	Health_1W_Chg	Return_1W	Return_1M	Return_3M	Trend_Breadth	Damage_Breadth	Above_50DMA	Above_200DMA
Factors / Style	6	47.70	79.93	0.47	1.0%	3.0%	14.2%	100.0%	26.1%	100.0%	100.0%
Major Indexes	11	46.03	75.36	1.39	0.8%	2.6%	16.5%	92.0%	14.8%	100.0%	100.0%
Thematic Growth / Tech	14	40.51	69.61	2.55	1.2%	5.9%	24.8%	88.1%	49.6%	92.9%	85.7%
Rates / Credit	14	27.81	56.45	-1.25	0.5%	0.0%	2.8%	64.3%	28.9%	64.3%	78.6%
Industries / Infrastructure / Housing	17	25.16	55.28	4.48	1.3%	2.3%	10.1%	65.9%	61.2%	52.9%	82.4%
International Equity	8	21.64	53.19	0.04	0.7%	-0.7%	7.8%	60.0%	48.8%	50.0%	75.0%
US Sectors / Key Industry Proxies	12	21.12	33.54	-0.34	0.4%	1.3%	7.5%	52.3%	15.9%	58.3%	75.0%
Financial / Health Care Industries	10	16.37	47.87	-5.72	-0.3%	0.5%	6.5%	54.0%	55.4%	60.0%	50.0%
Metals / Miners	10	-0.54	31.26	5.47	1.4%	-3.5%	7.3%	28.0%	81.8%	20.0%	40.0%
Commodities / Crypto / USD	12	-1.15	33.20	-8.80	-1.1%	-3.4%	6.8%	38.3%	74.2%	25.0%	58.3%

Major Indexes

Ticker	Name	Health Source	Health Score	Health 1W Change	1W	1M	3M	6M	1Y	Trend Breadth	Damage Breadth	Above 50DMA	Above 200DMA
SPY	S&P 500	Breadth	32.24	-0.01	0.6%	2.6%	16.3%	9.2%	14.3%	54.5%	15.7%	True	True
QQQ	Nasdaq 100	Breadth	36.63	-0.09	1.7%	5.0%	27.1%	17.7%	23.0%	57.8%	15.5%	True	True
IWM	Russell 2000	Price proxy	90.25	9.47	1.8%	2.9%	17.3%	7.8%	19.2%	100.0%	7.9%	True	True
IWF	Russell 1000 Growth	Price proxy	86.30	1.40	0.6%	2.4%	19.1%	8.0%	8.5%	100.0%	11.4%	True	True
IWD	Russell 1000 Value	Price proxy	84.53	2.46	0.7%	2.5%	12.0%	8.7%	18.2%	100.0%	13.2%	True	True
RSP	S&P 500 Equal Weight	Price proxy	82.35	-1.40	0.4%	1.9%	8.6%	4.4%	10.9%	100.0%	8.8%	True	True
OEF	S&P 100	Price proxy	90.02	4.56	0.7%	2.8%	18.7%	10.0%	13.9%	100.0%	3.1%	True	True
XLG	S&P Top 50	Price proxy	79.58	-5.26	0.3%	2.1%	18.1%	9.4%	12.1%	100.0%	28.1%	True	True
MAGS	Magnificent 7	Price proxy	83.64	6.67	1.4%	2.1%	23.3%	8.3%	11.0%	100.0%	29.8%	True	True
XMAG	Ex-Magnificent 7	Price proxy	85.85	3.16	0.7%	3.3%	12.5%	8.1%	13.2%	100.0%	14.0%	True	True
SPXT	S&P 500 Ex-Technology	Price proxy	77.53	-5.61	0.2%	0.5%	8.3%	2.8%	8.6%	100.0%	15.8%	True	True

Sectors And Key Industry Proxies

Ticker	Name	Health Source	Health Score	Health 1W Change	1W	1M	3M	6M	1Y	Trend Breadth	Leadership Breadth	Damage Breadth	Above 50DMA	Above 200DMA
XLK	Technology	Breadth	51.91	6.81	2.2%	8.7%	39.2%	27.5%	34.1%	75.8%	29.7%	11.9%	True	True
XLY	Consumer Discretionary	Breadth	31.58	10.71	2.0%	1.4%	11.7%	-0.7%	1.7%	51.4%	10.4%	21.5%	True	True
XLP	Consumer Staples	Breadth	30.87	-3.94	-0.3%	0.7%	4.2%	3.4%	8.5%	50.0%	5.6%	21.3%	True	True
XLC	Communication Services	Breadth	29.49	0.61	0.7%	-1.0%	6.8%	0.3%	-1.3%	44.9%	4.3%	10.1%	False	True
XLE	Energy	Breadth	24.97	-25.59	-4.2%	1.9%	-7.4%	17.3%	30.1%	41.3%	0.0%	14.3%	False	True
XLF	Financials	Breadth	32.07	-6.65	-1.0%	-0.3%	4.8%	-4.0%	-3.9%	46.5%	12.3%	15.4%	False	False
XLV	Health Care	Breadth	36.34	5.55	-0.7%	2.8%	2.1%	-5.6%	9.6%	54.8%	9.6%	21.5%	True	False
XLI	Industrials	Breadth	33.06	5.77	1.5%	0.2%	8.1%	5.6%	15.3%	54.4%	11.4%	15.2%	True	True
XLB	Materials	Breadth	33.00	8.40	1.8%	-0.4%	4.3%	3.8%	14.3%	52.6%	10.3%	17.9%	False	True
XLRE	Real Estate	Breadth	44.67	-8.34	0.2%	0.5%	10.8%	9.2%	8.8%	68.8%	11.8%	10.8%	True	True
XLU	Utilities	Breadth	26.46	-6.89	-0.5%	0.0%	-0.4%	6.4%	9.2%	37.6%	4.3%	8.6%	False	True
XHB	Homebuilders	Breadth	28.10	9.47	3.3%	0.6%	5.4%	-8.8%	-9.3%	50.0%	2.9%	22.5%	True	False

Non-Sector Industries And Themes

Ticker	Name	Group	Health Source	Health Score	Health 1W Change	1W	1M	3M	6M	1Y	Trend Breadth	Leadership Breadth	Damage Breadth
UFO	UFO	Thematic Growth / Tech	Price proxy	98.93	19.65	7.7%	30.6%	45.5%	42.3%	93.9%	100.0%	99.1%	3.1%
XTL	XTL	Industries / Infrastructure / Housing	Price proxy	97.39	18.60	4.2%	10.4%	28.5%	48.9%	74.9%	100.0%	94.7%	3.1%
AIQ	AIQ	Thematic Growth / Tech	Price proxy	94.78	16.49	3.6%	8.5%	40.3%	24.1%	33.6%	100.0%	93.9%	12.3%
NXTG	NXTG	Industries / Infrastructure / Housing	Price proxy	92.66	16.84	3.8%	11.2%	40.2%	38.1%	50.0%	100.0%	95.3%	22.8%
CARZ	CARZ	Industries / Infrastructure / Housing	Price proxy	91.56	17.54	3.8%	8.5%	48.6%	36.6%	67.4%	100.0%	95.3%	27.2%
QTUM	QTUM	Thematic Growth / Tech	Price proxy	88.51	10.53	2.0%	10.9%	45.2%	31.4%	51.3%	100.0%	90.4%	32.5%
ROBO	ROBO	Thematic Growth / Tech	Price proxy	86.13	8.42	1.6%	5.8%	28.6%	19.6%	34.2%	100.0%	84.8%	34.2%
IHE	IHE	Financial / Health Care Industries	Price proxy	85.01	-2.46	0.4%	3.6%	7.7%	5.2%	31.2%	100.0%	59.4%	3.1%
PINK	PINK	Thematic Growth / Tech	Price proxy	82.34	9.82	1.9%	5.3%	14.0%	-2.5%	19.7%	100.0%	78.4%	40.4%
XTN	XTN	Industries / Infrastructure / Housing	Price proxy	81.39	18.25	4.2%	5.7%	19.8%	11.3%	29.9%	100.0%	90.1%	60.5%
JETS	JETS	Industries / Infrastructure / Housing	Price proxy	79.47	19.30	7.2%	5.4%	16.3%	0.7%	13.2%	100.0%	87.7%	64.9%
PEJ	PEJ	Thematic Growth / Tech	Price proxy	79.11	14.39	3.2%	1.9%	8.0%	2.5%	1.5%	100.0%	67.3%	37.7%
GRID	GRID	Thematic Growth / Tech	Price proxy	78.08	5.96	0.9%	0.7%	20.2%	22.0%	30.6%	100.0%	68.7%	43.9%
IHF	IHF	Financial / Health Care Industries	Price proxy	77.21	-9.12	-0.4%	3.0%	19.8%	1.1%	5.6%	100.0%	64.3%	41.2%
XBI	XBI	Financial / Health Care Industries	Price proxy	74.85	11.23	2.1%	0.6%	8.5%	2.2%	39.6%	100.0%	62.0%	47.4%
ITA	ITA	Industries / Infrastructure / Housing	Price proxy	71.64	11.93	2.3%	3.6%	4.7%	-2.2%	13.6%	100.0%	67.8%	68.4%
COAL	COAL	Industries / Infrastructure / Housing	Price proxy	71.42	20.00	8.0%	4.3%	-3.1%	-1.9%	24.7%	100.0%	63.5%	63.2%
BUG	BUG	Thematic Growth / Tech	Price proxy	69.72	-18.25	-4.5%	11.8%	30.2%	10.6%	-6.9%	100.0%	65.5%	72.8%
PAVE	PAVE	Industries / Infrastructure / Housing	Price proxy	69.08	15.09	3.2%	-0.2%	13.1%	9.8%	21.6%	80.0%	65.2%	43.0%
ARKK	ARKK	Thematic Growth / Tech	Price proxy	66.67	10.88	2.0%	0.0%	15.7%	-5.2%	-6.3%	100.0%	64.9%	84.2%
IAI	IAI	Financial / Health Care Industries	Price proxy	63.96	-14.04	-1.3%	0.6%	9.3%	-5.2%	1.4%	100.0%	41.5%	62.3%
CLOU	CLOU	Thematic Growth / Tech	Price proxy	62.82	-15.79	-2.7%	0.1%	14.3%	4.1%	-6.6%	100.0%	43.3%	69.3%
IGV	IGV	Thematic Growth / Tech	Price proxy	61.99	-13.33	-1.0%	2.4%	16.7%	-4.0%	-19.4%	100.0%	54.7%	88.6%
SMH	Semiconductors	Thematic Growth / Tech	Breadth	61.35	1.36	3.3%	10.3%	56.4%	47.8%	88.5%	93.3%	29.3%	2.7%
NUKZ	NUKZ	Industries / Infrastructure / Housing	Price proxy	58.97	7.72	1.5%	-2.4%	8.6%	1.1%	15.2%	80.0%	48.2%	59.6%
KRE	KRE	Financial / Health Care Industries	Price proxy	56.56	-4.21	0.3%	-0.5%	7.9%	0.1%	7.1%	80.0%	39.5%	57.0%
OIH	OIH	Industries / Infrastructure / Housing	Price proxy	45.21	-17.54	-4.2%	1.9%	3.0%	24.6%	67.6%	60.0%	33.0%	61.4%
XES	XES	Industries / Infrastructure / Housing	Price proxy	43.47	-18.60	-4.7%	0.9%	3.7%	28.7%	73.8%	60.0%	32.5%	67.5%
PSP	PSP	Financial / Health Care Industries	Price proxy	39.60	3.51	0.7%	-0.3%	10.3%	-11.8%	-13.1%	40.0%	51.8%	78.1%
PNQI	PNQI	Thematic Growth / Tech	Price proxy	35.21	-1.75	0.4%	-2.0%	9.7%	-6.8%	-14.7%	40.0%	43.0%	83.3%
ITB	ITB	Industries / Infrastructure / Housing	Price proxy	31.68	13.68	2.9%	0.7%	3.6%	-12.4%	-15.2%	20.0%	57.0%	85.1%
IAK	IAK	Financial / Health Care Industries	Price proxy	30.75	-15.44	-2.2%	0.5%	2.4%	1.7%	1.8%	20.0%	28.7%	49.1%
CRAK	CRAK	Industries / Infrastructure / Housing	Price proxy	26.60	-15.09	-2.1%	-3.3%	-2.5%	15.8%	31.4%	40.0%	10.2%	71.9%
IBB	IBB	Financial / Health Care Industries	Price proxy	26.29	1.75	0.6%	-0.1%	2.8%	-4.3%	18.5%	0.0%	40.6%	51.8%
FCG	FCG	Industries / Infrastructure / Housing	Price proxy	24.46	-19.30	-5.7%	-2.0%	-11.6%	18.0%	23.4%	40.0%	7.9%	77.2%
XOP	XOP	Industries / Infrastructure / Housing	Price proxy	24.44	-18.95	-5.0%	-1.6%	-11.8%	21.9%	25.1%	40.0%	9.1%	78.9%
SOCL	SOCL	Industries / Infrastructure / Housing	Price proxy	18.22	12.63	2.6%	-3.3%	7.6%	-19.4%	-27.1%	0.0%	47.7%	93.9%
IYG	IYG	Financial / Health Care Industries	Price proxy	17.94	-12.28	-0.8%	-0.3%	5.7%	-4.5%	-3.2%	0.0%	32.5%	73.7%
HERO	HERO	Industries / Infrastructure / Housing	Price proxy	12.02	-5.96	0.2%	-1.5%	2.3%	-15.2%	-24.7%	0.0%	28.1%	91.2%
BJK	BJK	Thematic Growth / Tech	Price proxy	8.87	-12.63	-0.9%	-3.0%	2.0%	-10.6%	-20.6%	0.0%	17.8%	89.5%
IHI	IHI	Financial / Health Care Industries	Price proxy	6.51	-16.14	-2.8%	-1.7%	-9.4%	-19.0%	-18.7%	0.0%	11.7%	90.4%

Group	1W	1M	3M	6M	1Y	Health	Health Chg	Trend	Leadership	Damage	>50DMA	>200DMA
Factors / Style	1.0%	3.0%	14.2%	9.6%	14.5%	79.93	0.47	100.0%	61.3%	26.1%	100.0%	100.0%
Major Indexes	0.8%	2.6%	16.5%	8.6%	13.9%	75.36	1.39	92.0%	57.0%	14.8%	100.0%	100.0%
Thematic Growth / Tech	1.2%	5.9%	24.8%	12.5%	19.9%	69.61	2.55	88.1%	64.4%	49.6%	92.9%	85.7%
Rates / Credit	0.5%	0.0%	2.8%	1.2%	2.9%	56.45	-1.25	64.3%	37.1%	28.9%	64.3%	78.6%
Industries / Infrastructure / Housing	1.3%	2.3%	10.1%	12.0%	27.3%	55.28	4.48	65.9%	54.9%	61.2%	52.9%	82.4%
International Equity	0.7%	-0.7%	7.8%	3.4%	12.5%	53.19	0.04	60.0%	46.8%	48.8%	50.0%	75.0%
US Sectors / Key Industry Proxies	0.4%	1.3%	7.5%	4.5%	9.8%	33.54	-0.34	52.3%	9.4%	15.9%	58.3%	75.0%
Financial / Health Care Industries	-0.3%	0.5%	6.5%	-3.5%	7.0%	47.87	-5.72	54.0%	43.2%	55.4%	60.0%	50.0%
Metals / Miners	1.4%	-3.5%	7.3%	-7.3%	32.5%	31.26	5.47	28.0%	44.4%	81.8%	20.0%	40.0%
Commodities / Crypto / USD	-1.1%	-3.4%	6.8%	1.3%	26.9%	33.20	-8.80	38.3%	32.6%	74.2%	25.0%	58.3%

ETF Signal Heatmap Table

ETF	1W	1M	3M	6M	1Y	Health	Health Chg	Trend	Leadership	Damage
UFO	7.7%	30.6%	45.5%	42.3%	93.9%	98.93	19.65	100.0%	99.1%	3.1%
XTL	4.2%	10.4%	28.5%	48.9%	74.9%	97.39	18.60	100.0%	94.7%	3.1%
SPHB	3.0%	5.4%	26.2%	19.0%	32.8%	95.04	14.04	100.0%	88.0%	3.1%
AIQ	3.6%	8.5%	40.3%	24.1%	33.6%	94.78	16.49	100.0%	93.9%	12.3%
EEM	3.8%	2.7%	23.3%	16.5%	30.6%	93.35	17.19	100.0%	85.4%	6.1%
MTUM	3.2%	6.6%	31.5%	22.5%	23.5%	93.10	14.74	100.0%	90.9%	14.9%
NXTG	3.8%	11.2%	40.2%	38.1%	50.0%	92.66	16.84	100.0%	95.3%	22.8%
CARZ	3.8%	8.5%	48.6%	36.6%	67.4%	91.56	17.54	100.0%	95.3%	27.2%
IWM	1.8%	2.9%	17.3%	7.8%	19.2%	90.25	9.47	100.0%	77.8%	7.9%
OEF	0.7%	2.8%	18.7%	10.0%	13.9%	90.02	4.56	100.0%	73.7%	3.1%
CWB	1.2%	2.5%	17.2%	14.0%	19.9%	89.51	6.32	100.0%	72.2%	3.1%
QTUM	2.0%	10.9%	45.2%	31.4%	51.3%	88.51	10.53	100.0%	90.4%	32.5%
IWF	0.6%	2.4%	19.1%	8.0%	8.5%	86.30	1.40	100.0%	69.0%	11.4%
ROBO	1.6%	5.8%	28.6%	19.6%	34.2%	86.13	8.42	100.0%	84.8%	34.2%
XMAG	0.7%	3.3%	12.5%	8.1%	13.2%	85.85	3.16	100.0%	69.6%	14.0%
IHE	0.4%	3.6%	7.7%	5.2%	31.2%	85.01	-2.46	100.0%	59.4%	3.1%
IWD	0.7%	2.5%	12.0%	8.7%	18.2%	84.53	2.46	100.0%	65.2%	13.2%
EZU	1.4%	2.7%	13.1%	4.5%	13.8%	84.39	7.02	100.0%	71.1%	21.9%
MAGS	1.4%	2.1%	23.3%	8.3%	11.0%	83.64	6.67	100.0%	74.6%	29.8%
QUAL	0.4%	2.8%	13.2%	6.5%	12.7%	82.69	-2.11	100.0%	64.3%	19.3%
DXJ	0.8%	3.3%	9.4%	10.6%	32.1%	82.60	4.91	100.0%	67.8%	24.6%
RSP	0.4%	1.9%	8.6%	4.4%	10.9%	82.35	-1.40	100.0%	55.8%	8.8%
PINK	1.9%	5.3%	14.0%	-2.5%	19.7%	82.34	9.82	100.0%	78.4%	40.4%
XTN	4.2%	5.7%	19.8%	11.3%	29.9%	81.39	18.25	100.0%	90.1%	60.5%
VO	0.4%	1.3%	9.5%	4.8%	8.5%	79.97	-2.81	100.0%	54.7%	16.7%
XLG	0.3%	2.1%	18.1%	9.4%	12.1%	79.58	-5.26	100.0%	61.7%	28.1%
JETS	7.2%	5.4%	16.3%	0.7%	13.2%	79.47	19.30	100.0%	87.7%	64.9%
PEJ	3.2%	1.9%	8.0%	2.5%	1.5%	79.11	14.39	100.0%	67.3%	37.7%
GRID	0.9%	0.7%	20.2%	22.0%	30.6%	78.08	5.96	100.0%	68.7%	43.9%
SPXT	0.2%	0.5%	8.3%	2.8%	8.6%	77.53	-5.61	100.0%	47.1%	15.8%
XME	5.0%	2.0%	17.1%	-5.9%	38.4%	77.24	18.95	100.0%	80.7%	64.0%
IHF	-0.4%	3.0%	19.8%	1.1%	5.6%	77.21	-9.12	100.0%	64.3%	41.2%
COPX	3.3%	4.2%	21.4%	4.7%	67.3%	76.54	15.44	100.0%	86.8%	75.4%
HYG	0.3%	0.3%	2.6%	0.7%	2.6%	75.47	-4.91	100.0%	37.4%	10.5%
DBB	-0.7%	2.6%	12.8%	7.8%	30.8%	75.23	-10.53	100.0%	55.6%	36.8%
EMB	0.9%	0.1%	3.6%	1.2%	4.4%	75.00	5.61	100.0%	47.4%	26.3%
XBI	2.1%	0.6%	8.5%	2.2%	39.6%	74.85	11.23	100.0%	62.0%	47.4%
ITA	2.3%	3.6%	4.7%	-2.2%	13.6%	71.64	11.93	100.0%	67.8%	68.4%
COAL	8.0%	4.3%	-3.1%	-1.9%	24.7%	71.42	20.00	100.0%	63.5%	63.2%
STIP	0.2%	0.0%	1.2%	1.8%	2.1%	71.35	-6.32	100.0%	31.3%	18.4%
EWU	0.3%	2.1%	6.8%	4.8%	15.6%	71.18	-4.56	100.0%	50.9%	46.5%
CPER	-1.1%	3.0%	15.5%	7.9%	35.8%	70.82	-13.68	100.0%	56.7%	56.1%
LQD	0.5%	0.2%	1.8%	-0.2%	0.4%	70.48	0.70	100.0%	39.5%	33.3%
BUG	-4.5%	11.8%	30.2%	10.6%	-6.9%	69.72	-18.25	100.0%	65.5%	72.8%
UUP	-0.1%	1.2%	-0.2%	2.2%	4.9%	69.33	-7.72	100.0%	33.0%	28.9%

Detailed Signal Matrix

Ticker	Name	Group	Health Source	Health Score	Health 1W Change	1W	1M	3M	6M	1Y	Trend Breadth	Leadership Breadth	Damage Breadth	Above 50DMA	Above 200DMA
UFO	UFO	Thematic Growth / Tech	Price proxy	98.93	19.65	7.7%	30.6%	45.5%	42.3%	93.9%	100.0%	99.1%	3.1%	True	True
XTL	XTL	Industries / Infrastructure / Housing	Price proxy	97.39	18.60	4.2%	10.4%	28.5%	48.9%	74.9%	100.0%	94.7%	3.1%	True	True
SPHB	High Beta	Factors / Style	Price proxy	95.04	14.04	3.0%	5.4%	26.2%	19.0%	32.8%	100.0%	88.0%	3.1%	True	True
AIQ	AIQ	Thematic Growth / Tech	Price proxy	94.78	16.49	3.6%	8.5%	40.3%	24.1%	33.6%	100.0%	93.9%	12.3%	True	True
EEM	EEM	International Equity	Price proxy	93.35	17.19	3.8%	2.7%	23.3%	16.5%	30.6%	100.0%	85.4%	6.1%	True	True
MTUM	Momentum Factor	Factors / Style	Price proxy	93.10	14.74	3.2%	6.6%	31.5%	22.5%	23.5%	100.0%	90.9%	14.9%	True	True
NXTG	NXTG	Industries / Infrastructure / Housing	Price proxy	92.66	16.84	3.8%	11.2%	40.2%	38.1%	50.0%	100.0%	95.3%	22.8%	True	True
CARZ	CARZ	Industries / Infrastructure / Housing	Price proxy	91.56	17.54	3.8%	8.5%	48.6%	36.6%	67.4%	100.0%	95.3%	27.2%	True	True
IWM	Russell 2000	Major Indexes	Price proxy	90.25	9.47	1.8%	2.9%	17.3%	7.8%	19.2%	100.0%	77.8%	7.9%	True	True
OEF	S&P 100	Major Indexes	Price proxy	90.02	4.56	0.7%	2.8%	18.7%	10.0%	13.9%	100.0%	73.7%	3.1%	True	True
CWB	CWB	Rates / Credit	Price proxy	89.51	6.32	1.2%	2.5%	17.2%	14.0%	19.9%	100.0%	72.2%	3.1%	True	True
QTUM	QTUM	Thematic Growth / Tech	Price proxy	88.51	10.53	2.0%	10.9%	45.2%	31.4%	51.3%	100.0%	90.4%	32.5%	True	True
IWF	Russell 1000 Growth	Major Indexes	Price proxy	86.30	1.40	0.6%	2.4%	19.1%	8.0%	8.5%	100.0%	69.0%	11.4%	True	True
ROBO	ROBO	Thematic Growth / Tech	Price proxy	86.13	8.42	1.6%	5.8%	28.6%	19.6%	34.2%	100.0%	84.8%	34.2%	True	True
XMAG	Ex-Magnificent 7	Major Indexes	Price proxy	85.85	3.16	0.7%	3.3%	12.5%	8.1%	13.2%	100.0%	69.6%	14.0%	True	True
IHE	IHE	Financial / Health Care Industries	Price proxy	85.01	-2.46	0.4%	3.6%	7.7%	5.2%	31.2%	100.0%	59.4%	3.1%	True	True
IWD	Russell 1000 Value	Major Indexes	Price proxy	84.53	2.46	0.7%	2.5%	12.0%	8.7%	18.2%	100.0%	65.2%	13.2%	True	True
EZU	EZU	International Equity	Price proxy	84.39	7.02	1.4%	2.7%	13.1%	4.5%	13.8%	100.0%	71.1%	21.9%	True	True
MAGS	Magnificent 7	Major Indexes	Price proxy	83.64	6.67	1.4%	2.1%	23.3%	8.3%	11.0%	100.0%	74.6%	29.8%	True	True
QUAL	Quality Factor	Factors / Style	Price proxy	82.69	-2.11	0.4%	2.8%	13.2%	6.5%	12.7%	100.0%	64.3%	19.3%	True	True
DXJ	DXJ	International Equity	Price proxy	82.60	4.91	0.8%	3.3%	9.4%	10.6%	32.1%	100.0%	67.8%	24.6%	True	True
RSP	S&P 500 Equal Weight	Major Indexes	Price proxy	82.35	-1.40	0.4%	1.9%	8.6%	4.4%	10.9%	100.0%	55.8%	8.8%	True	True
PINK	PINK	Thematic Growth / Tech	Price proxy	82.34	9.82	1.9%	5.3%	14.0%	-2.5%	19.7%	100.0%	78.4%	40.4%	True	True
XTN	XTN	Industries / Infrastructure / Housing	Price proxy	81.39	18.25	4.2%	5.7%	19.8%	11.3%	29.9%	100.0%	90.1%	60.5%	True	True
VO	VO	Factors / Style	Price proxy	79.97	-2.81	0.4%	1.3%	9.5%	4.8%	8.5%	100.0%	54.7%	16.7%	True	True
XLG	S&P Top 50	Major Indexes	Price proxy	79.58	-5.26	0.3%	2.1%	18.1%	9.4%	12.1%	100.0%	61.7%	28.1%	True	True
JETS	JETS	Industries / Infrastructure / Housing	Price proxy	79.47	19.30	7.2%	5.4%	16.3%	0.7%	13.2%	100.0%	87.7%	64.9%	True	True
PEJ	PEJ	Thematic Growth / Tech	Price proxy	79.11	14.39	3.2%	1.9%	8.0%	2.5%	1.5%	100.0%	67.3%	37.7%	True	True
GRID	GRID	Thematic Growth / Tech	Price proxy	78.08	5.96	0.9%	0.7%	20.2%	22.0%	30.6%	100.0%	68.7%	43.9%	True	True
SPXT	S&P 500 Ex-Technology	Major Indexes	Price proxy	77.53	-5.61	0.2%	0.5%	8.3%	2.8%	8.6%	100.0%	47.1%	15.8%	True	True
XME	XME	Metals / Miners	Price proxy	77.24	18.95	5.0%	2.0%	17.1%	-5.9%	38.4%	100.0%	80.7%	64.0%	True	True
IHF	IHF	Financial / Health Care Industries	Price proxy	77.21	-9.12	-0.4%	3.0%	19.8%	1.1%	5.6%	100.0%	64.3%	41.2%	True	True
COPX	COPX	Metals / Miners	Price proxy	76.54	15.44	3.3%	4.2%	21.4%	4.7%	67.3%	100.0%	86.8%	75.4%	True	True
HYG	High Yield Credit	Rates / Credit	Price proxy	75.47	-4.91	0.3%	0.3%	2.6%	0.7%	2.6%	100.0%	37.4%	10.5%	True	True
DBB	DBB	Commodities / Crypto / USD	Price proxy	75.23	-10.53	-0.7%	2.6%	12.8%	7.8%	30.8%	100.0%	55.6%	36.8%	True	True
EMB	EMB	Rates / Credit	Price proxy	75.00	5.61	0.9%	0.1%	3.6%	1.2%	4.4%	100.0%	47.4%	26.3%	True	True
XBI	XBI	Financial / Health Care Industries	Price proxy	74.85	11.23	2.1%	0.6%	8.5%	2.2%	39.6%	100.0%	62.0%	47.4%	True	True
ITA	ITA	Industries / Infrastructure / Housing	Price proxy	71.64	11.93	2.3%	3.6%	4.7%	-2.2%	13.6%	100.0%	67.8%	68.4%	True	True
COAL	COAL	Industries / Infrastructure / Housing	Price proxy	71.42	20.00	8.0%	4.3%	-3.1%	-1.9%	24.7%	100.0%	63.5%	63.2%	True	True
STIP	STIP	Rates / Credit	Price proxy	71.35	-6.32	0.2%	0.0%	1.2%	1.8%	2.1%	100.0%	31.3%	18.4%	True	True
EWU	EWU	International Equity	Price proxy	71.18	-4.56	0.3%	2.1%	6.8%	4.8%	15.6%	100.0%	50.9%	46.5%	True	True
CPER	CPER	Commodities / Crypto / USD	Price proxy	70.82	-13.68	-1.1%	3.0%	15.5%	7.9%	35.8%	100.0%	56.7%	56.1%	True	True
LQD	Investment Grade Credit	Rates / Credit	Price proxy	70.48	0.70	0.5%	0.2%	1.8%	-0.2%	0.4%	100.0%	39.5%	33.3%	True	True
BUG	BUG	Thematic Growth / Tech	Price proxy	69.72	-18.25	-4.5%	11.8%	30.2%	10.6%	-6.9%	100.0%	65.5%	72.8%	True	True
UUP	US Dollar	Commodities / Crypto / USD	Price proxy	69.33	-7.72	-0.1%	1.2%	-0.2%	2.2%	4.9%	100.0%	33.0%	28.9%	True	True
PAVE	PAVE	Industries / Infrastructure / Housing	Price proxy	69.08	15.09	3.2%	-0.2%	13.1%	9.8%	21.6%	80.0%	65.2%	43.0%	True	True
ARKK	ARKK	Thematic Growth / Tech	Price proxy	66.67	10.88	2.0%	0.0%	15.7%	-5.2%	-6.3%	100.0%	64.9%	84.2%	True	True
SPHD	High Dividend Low Vol	Factors / Style	Price proxy	66.04	-9.82	-0.5%	1.2%	2.9%	3.3%	5.9%	100.0%	37.4%	48.2%	True	True
IAI	IAI	Financial / Health Care Industries	Price proxy	63.96	-14.04	-1.3%	0.6%	9.3%	-5.2%	1.4%	100.0%	41.5%	62.3%	True	True
PFF	PFF	Rates / Credit	Price proxy	63.14	-0.35	0.5%	-0.4%	4.3%	-0.2%	1.2%	80.0%	39.5%	30.7%	True	True
CLOU	CLOU	Thematic Growth / Tech	Price proxy	62.82	-15.79	-2.7%	0.1%	14.3%	4.1%	-6.6%	100.0%	43.3%	69.3%	True	True
TIP	TIPS	Rates / Credit	Price proxy	62.82	-1.05	0.5%	-0.1%	1.5%	1.3%	1.1%	80.0%	34.8%	25.4%	True	True
SPLV	Low Volatility	Factors / Style	Price proxy	62.76	-11.23	-0.7%	0.8%	1.7%	1.8%	3.5%	100.0%	32.5%	54.4%	True	True
IGV	IGV	Thematic Growth / Tech	Price proxy	61.99	-13.33	-1.0%	2.4%	16.7%	-4.0%	-19.4%	100.0%	54.7%	88.6%	True	True
SHY	1-3 Year Treasury	Rates / Credit	Price proxy	61.56	-7.37	0.1%	-0.0%	0.6%	0.5%	1.6%	80.0%	28.1%	21.1%	True	True
BKLN	BKLN	Rates / Credit	Price proxy	61.47	-7.02	0.1%	-0.3%	1.1%	0.1%	2.3%	80.0%	27.2%	20.2%	True	True
SMH	Semiconductors	Thematic Growth / Tech	Breadth	61.35	1.36	3.3%	10.3%	56.4%	47.8%	88.5%	93.3%	29.3%	2.7%	True	True
NUKZ	NUKZ	Industries / Infrastructure / Housing	Price proxy	58.97	7.72	1.5%	-2.4%	8.6%	1.1%	15.2%	80.0%	48.2%	59.6%	True	True
KRE	KRE	Financial / Health Care Industries	Price proxy	56.56	-4.21	0.3%	-0.5%	7.9%	0.1%	7.1%	80.0%	39.5%	57.0%	True	True
XLK	Technology	US Sectors / Key Industry Proxies	Breadth	51.91	6.81	2.2%	8.7%	39.2%	27.5%	34.1%	75.8%	29.7%	11.9%	True	True
OIH	OIH	Industries / Infrastructure / Housing	Price proxy	45.21	-17.54	-4.2%	1.9%	3.0%	24.6%	67.6%	60.0%	33.0%	61.4%	False	True
XLRE	Real Estate	US Sectors / Key Industry Proxies	Breadth	44.67	-8.34	0.2%	0.5%	10.8%	9.2%	8.8%	68.8%	11.8%	10.8%	True	True
XES	XES	Industries / Infrastructure / Housing	Price proxy	43.47	-18.60	-4.7%	0.9%	3.7%	28.7%	73.8%	60.0%	32.5%	67.5%	False	True
EMLC	EMLC	Rates / Credit	Price proxy	43.27	0.35	0.5%	-0.6%	3.2%	-0.8%	3.6%	40.0%	36.5%	42.1%	False	True
MBB	MBB	Rates / Credit	Price proxy	42.77	-3.86	0.3%	-0.2%	1.1%	0.4%	2.2%	40.0%	30.1%	35.1%	False	True
EWA	EWA	International Equity	Price proxy	41.64	1.05	0.5%	-1.9%	6.5%	6.9%	9.4%	40.0%	40.1%	53.5%	False	True
PSP	PSP	Financial / Health Care Industries	Price proxy	39.60	3.51	0.7%	-0.3%	10.3%	-11.8%	-13.1%	40.0%	51.8%	78.1%	True	False
HAP	HAP	Metals / Miners	Price proxy	37.71	-10.88	-0.7%	-0.3%	2.2%	8.2%	31.8%	40.0%	26.3%	50.0%	False	True
QQQ	Nasdaq 100	Major Indexes	Breadth	36.63	-0.09	1.7%	5.0%	27.1%	17.7%	23.0%	57.8%	20.1%	15.5%	True	True
XLV	Health Care	US Sectors / Key Industry Proxies	Breadth	36.34	5.55	-0.7%	2.8%	2.1%	-5.6%	9.6%	54.8%	9.6%	21.5%	True	False
DBA	DBA	Commodities / Crypto / USD	Price proxy	36.03	-8.77	-0.3%	-1.2%	1.3%	7.3%	5.1%	40.0%	23.4%	52.6%	False	True
PNQI	PNQI	Thematic Growth / Tech	Price proxy	35.21	-1.75	0.4%	-2.0%	9.7%	-6.8%	-14.7%	40.0%	43.0%	83.3%	True	False
URA	URA	Commodities / Crypto / USD	Price proxy	34.22	12.28	2.5%	-10.8%	7.4%	-11.3%	14.9%	40.0%	43.3%	87.7%	False	True
XLI	Industrials	US Sectors / Key Industry Proxies	Breadth	33.06	5.77	1.5%	0.2%	8.1%	5.6%	15.3%	54.4%	11.4%	15.2%	True	True
XLB	Materials	US Sectors / Key Industry Proxies	Breadth	33.00	8.40	1.8%	-0.4%	4.3%	3.8%	14.3%	52.6%	10.3%	17.9%	False	True
SPY	S&P 500	Major Indexes	Breadth	32.24	-0.01	0.6%	2.6%	16.3%	9.2%	14.3%	54.5%	12.2%	15.7%	True	True
XLF	Financials	US Sectors / Key Industry Proxies	Breadth	32.07	-6.65	-1.0%	-0.3%	4.8%	-4.0%	-3.9%	46.5%	12.3%	15.4%	False	False
ITB	ITB	Industries / Infrastructure / Housing	Price proxy	31.68	13.68	2.9%	0.7%	3.6%	-12.4%	-15.2%	20.0%	57.0%	85.1%	False	False
XLY	Consumer Discretionary	US Sectors / Key Industry Proxies	Breadth	31.58	10.71	2.0%	1.4%	11.7%	-0.7%	1.7%	51.4%	10.4%	21.5%	True	True
DBC	DBC	Commodities / Crypto / USD	Price proxy	31.29	-16.84	-3.4%	-2.5%	3.7%	24.2%	35.8%	40.0%	19.9%	66.7%	False	True

Highest Breadth Health

Ticker	Name	Health Score	Health 1W Change	Trend Breadth	Leadership Breadth	Damage Breadth
UFO	UFO	98.93	19.65	100.0%	99.1%	3.1%
XTL	XTL	97.39	18.60	100.0%	94.7%	3.1%
SPHB	High Beta	95.04	14.04	100.0%	88.0%	3.1%
AIQ	AIQ	94.78	16.49	100.0%	93.9%	12.3%
EEM	EEM	93.35	17.19	100.0%	85.4%	6.1%

Lowest Breadth Health

Ticker	Name	Health Score	Health 1W Change	Trend Breadth	Leadership Breadth	Damage Breadth
IHI	IHI	6.51	-16.14	0.0%	11.7%	90.4%
BTC-USD	BTC-USD	7.68	-16.49	0.0%	21.9%	100.0%
GLD	Gold	8.52	-14.74	0.0%	14.3%	86.0%
BJK	BJK	8.87	-12.63	0.0%	17.8%	89.5%
PLTM	PLTM	10.18	-8.07	0.0%	27.2%	97.4%

Weekly Breadth Improvers

Ticker	Name	Health 1W Change	Health Score	Trend Breadth	Damage Breadth
COAL	COAL	20.00	71.42	100.0%	63.2%
UFO	UFO	19.65	98.93	100.0%	3.1%
JETS	JETS	19.30	79.47	100.0%	64.9%
XME	XME	18.95	77.24	100.0%	64.0%
XTL	XTL	18.60	97.39	100.0%	3.1%
XTN	XTN	18.25	81.39	100.0%	60.5%
URNM	URNM	17.89	14.80	0.0%	96.5%
CARZ	CARZ	17.54	91.56	100.0%	27.2%
EEM	EEM	17.19	93.35	100.0%	6.1%
NXTG	NXTG	16.84	92.66	100.0%	22.8%

Weekly Breadth Deteriorators

Ticker	Name	Health 1W Change	Health Score	Trend Breadth	Damage Breadth
XLE	Energy	-25.59	24.97	41.3%	14.3%
USO	Oil	-19.65	30.55	40.0%	80.7%
FCG	FCG	-19.30	24.46	40.0%	77.2%
XOP	XOP	-18.95	24.44	40.0%	78.9%
XES	XES	-18.60	43.47	60.0%	67.5%
BUG	BUG	-18.25	69.72	100.0%	72.8%
OIH	OIH	-17.54	45.21	60.0%	61.4%
GSG	GSG	-17.19	29.60	40.0%	70.2%
DBC	DBC	-16.84	31.29	40.0%	66.7%
BTC-USD	BTC-USD	-16.49	7.68	0.0%	100.0%

This Week's ETF Price Leaders

Ticker	Name	1W	1M	3M	6M	Above 50DMA	Above 200DMA
COAL	COAL	8.0%	4.3%	-3.1%	-1.9%	True	True
UFO	UFO	7.7%	30.6%	45.5%	42.3%	True	True
JETS	JETS	7.2%	5.4%	16.3%	0.7%	True	True
XME	XME	5.0%	2.0%	17.1%	-5.9%	True	True
XTL	XTL	4.2%	10.4%	28.5%	48.9%	True	True
XTN	XTN	4.2%	5.7%	19.8%	11.3%	True	True
URNM	URNM	3.9%	-9.7%	2.1%	-19.7%	False	False
CARZ	CARZ	3.8%	8.5%	48.6%	36.6%	True	True
EEM	EEM	3.8%	2.7%	23.3%	16.5%	True	True
NXTG	NXTG	3.8%	11.2%	40.2%	38.1%	True	True

This Week's ETF Price Laggards

Ticker	Name	1W	1M	3M	6M	Above 50DMA	Above 200DMA
USO	Oil	-7.0%	-2.9%	11.7%	82.4%	False	True
FCG	FCG	-5.7%	-2.0%	-11.6%	18.0%	False	True
XOP	XOP	-5.0%	-1.6%	-11.8%	21.9%	False	True
XES	XES	-4.7%	0.9%	3.7%	28.7%	False	True
BUG	BUG	-4.5%	11.8%	30.2%	10.6%	True	True
XLE	Energy	-4.2%	1.9%	-7.4%	17.3%	False	True
OIH	OIH	-4.2%	1.9%	3.0%	24.6%	False	True
GSG	GSG	-4.0%	-2.9%	3.1%	31.5%	False	True
DBC	DBC	-3.4%	-2.5%	3.7%	24.2%	False	True
BTC-USD	BTC-USD	-2.9%	-7.0%	8.2%	-16.8%	False	False

1M ETF Price Leaders

Ticker	Name	1W	1M	3M	6M	1Y	Above 50DMA	Above 200DMA
UFO	UFO	7.7%	30.6%	45.5%	42.3%	93.9%	True	True
BUG	BUG	-4.5%	11.8%	30.2%	10.6%	-6.9%	True	True
NXTG	NXTG	3.8%	11.2%	40.2%	38.1%	50.0%	True	True
QTUM	QTUM	2.0%	10.9%	45.2%	31.4%	51.3%	True	True
XTL	XTL	4.2%	10.4%	28.5%	48.9%	74.9%	True	True
SMH	Semiconductors	3.3%	10.3%	56.4%	47.8%	88.5%	True	True
XLK	Technology	2.2%	8.7%	39.2%	27.5%	34.1%	True	True
AIQ	AIQ	3.6%	8.5%	40.3%	24.1%	33.6%	True	True
CARZ	CARZ	3.8%	8.5%	48.6%	36.6%	67.4%	True	True
MTUM	Momentum Factor	3.2%	6.6%	31.5%	22.5%	23.5%	True	True

1M ETF Price Laggards

Ticker	Name	1W	1M	3M	6M	1Y	Above 50DMA	Above 200DMA
URA	URA	2.5%	-10.8%	7.4%	-11.3%	14.9%	False	True
URNM	URNM	3.9%	-9.7%	2.1%	-19.7%	11.2%	False	False
GDXJ	GDXJ	0.8%	-8.1%	6.3%	-20.8%	31.5%	False	False
BTC-USD	BTC-USD	-2.9%	-7.0%	8.2%	-16.8%	-36.5%	False	False
EWZ	EWZ	-0.7%	-6.9%	-1.9%	0.4%	21.3%	False	True
GDX	GDX	0.5%	-6.8%	3.7%	-18.8%	25.1%	False	False
PALL	PALL	2.7%	-6.7%	2.9%	-28.4%	19.4%	False	False
SIL	SIL	0.7%	-5.8%	9.4%	-18.3%	39.9%	False	False
SLV	Silver	-1.3%	-5.7%	11.1%	-22.5%	77.7%	False	False
PLTM	PLTM	-0.2%	-5.6%	5.4%	-27.5%	37.9%	False	False

Allocation Playbook

Signal-based views translated into strategist-style portfolio tilts. These are not position sizes.

Asset / Sleeve	View	Why	Risk To Watch
US Large Cap / Mega Cap	Overweight	ETF momentum and breadth leadership remain supportive.	Credit widening or narrowing participation.
Technology / Semiconductors	Overweight	Appears in the healthiest breadth and price-leadership stack.	Rising real yields or overextension.
Weak Breadth Sectors	Underweight	IHI, BTC-USD, GLD, BJK screen weaker on internal health.	Upgrade only if breadth repair is sustained.
HY Credit Beta	Underweight	Credit spread compensation is tight relative to history.	Can improve after spread widening creates better entry.
Quality Credit	Overweight	Yield curve deck favors quality up over lower-quality credit beta.	IG spreads can still widen from tight levels.
Duration	Neutral+	Real yields offer compensation, but rates volatility is the guardrail.	Bear steepening or term-premium shock.