Market Conditions — 2026-09-22

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Article published Sep 22, 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 +2.1% · QQQ +6.1% · IWM +0.7% · RSP -0.5% 30d: SPY +1.0% · QQQ +4.8% · IWM -4.3% · RSP -4.0%
Volatility VIX 14.21 (CALM) · 1d -4.4% Fire-sale window closed — the trigger is a ≥30% one-day spike
Rotation In: Thebuildout Dram Memory, Thebuildout High Speed Pcbs Server Networking, Cybersec, Crypto, Thebuildout Nand Flash Memory (+40 more) · Out: Travel Leisure, Lazarus, Alt Managers, Livestock Disease, Consumer (+45 more) 45 in / 50 out / 5 emerging of 122 tracked themes · ranked on trailing 30d strength vs SPY
Credit (7d) HYG +0.4% · LQD +0.8% · IEF +0.4% Orderly credit means the selling is positioning, not a credit event
Hard assets (7d) GLD +1.5% · USO -11.0% · COPX +6.4% Gold · oil · copper miners

Sources

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