Market Conditions — 2026-09-17

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Article published Sep 17, 2026. Prices below use latest available snapshots.

SPY $763.25 +1.2% 30d QQQ $709.80 +0.7% 30d IWM $270.44 -4.8% 30d

A frozen snapshot: each card records its own moment and is meant to read stale later. The strip of cards, in order, is the climate history.

Gauge Read Note
Indexes (7d) SPY +0.6% · QQQ +1.2% · IWM -0.8% · RSP +0.1% 30d: SPY -0.6% · QQQ -0.1% · IWM -4.9% · RSP -3.0%
Volatility VIX 15.44 (CALM) · 1d -12.8% Fire-sale window closed — the trigger is a ≥30% one-day spike
Rotation In: Crypto, Trace Iran War Second And Third Order Effects, Hard Assets, Biotech Capital Cycle, Trace Glp1 Manufacturing (+17 more) · Out: Thebuildout Etch Equipment, Thebuildout Advanced Packaging Equipment, Thebuildout Deposition Equipment, Drone Defense, WFE Test Metrology (+64 more) 22 in / 69 out / 0 emerging of 122 tracked themes · ranked on trailing 30d strength vs SPY
Credit (7d) HYG +0.1% · LQD +0.8% · IEF +0.1% Orderly credit means the selling is positioning, not a credit event
Hard assets (7d) GLD +0.5% · USO -1.9% · COPX -2.3% Gold · oil · copper miners

Sources

  • market-pulse + rotation-map.json · data/state/vix-gate.json (all numbers code-computed and frozen at emit)