Market Conditions — 2026-09-28

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Article published Sep 28, 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 -1.0% · QQQ -0.7% · IWM -1.9% · RSP -1.4% 30d: SPY -0.5% · QQQ +2.8% · IWM -5.3% · RSP -5.0%
Volatility VIX 16.07 (NORMAL) · 1d +8.1% Fire-sale window closed — the trigger is a ≥30% one-day spike
Rotation In: CPU Shortage Supply Chain, Thebuildout Semiconductor Test Burn In Equipment, Thebuildout Nand Flash Memory, Thebuildout Dram Memory, Thebuildout Data Center Switch Nic Vendors (+57 more) · Out: Alt Managers, Travel Leisure, Nuclear Fuel Cycle, Lazarus, Livestock Disease (+32 more) 62 in / 37 out / 1 emerging of 122 tracked themes · ranked on trailing 30d strength vs SPY
Credit (7d) HYG -1.4% · LQD -2.5% · IEF -1.8% Orderly credit means the selling is positioning, not a credit event
Hard assets (7d) GLD -5.1% · USO +1.3% · COPX -2.5% Gold · oil · copper miners

Sources

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