Market Pulse
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Market Pulse
raw scan snapshot — prices as of scan date, not live 47 rows · screens, not recommendations superseded by2026-05-01-market-pulseported fromresearch/classic/scans/_archive/2026-02-05-market-pulse.mdscan slugmarket-pulsesource typescan-archive
Daily market overview across major asset classes and sectors.
Quick Snapshot
| Signal | Reading |
|---|---|
| Overall | 🔴 RISK-OFF - Tech selloff deepening, VIX rising, gold bid intact |
| Risk appetite | 🔴 Deteriorating - VIXY +12.5% 30D, QQQM RSI 35, breadth narrowing |
| Key insight | Japan crisis + AI rotation + rate fears creating perfect storm. Money flowing from tech to defensives, oil, and real assets |
Asset Class Overview (Validated 2026-02-05)
Equities
| ETF | Name | Price | 7D | 30D | 3M | RSI | Status |
|---|---|---|---|---|---|---|---|
| VOO | S&P 500 | $623.10 | -0.4% | -2.1% | +1.4% | 37 | 🟡 Weakening |
| QQQM | Nasdaq | $245.83 | -2.8% | -4.2% | -2.3% | 35 | 🔴 Breakdown |
| IWM | Small Cap | $255.83 | -0.5% | -0.1% | +6.8% | 35 | 🟡 Fading |
| EEM | EM | $58.53 | -1.8% | +2.2% | +8.5% | 53 | 🟢 Relative strength |
Pattern: Broad equity weakness with Nasdaq leading the decline (RSI 35, -4.2% 30D). S&P holding up relatively better but RSI 37 signals oversold conditions approaching. Small caps fading after recent strength. EM still positive on 30D/3M.
Commodities
| ETF | Asset | Price | 7D | 30D | 3M | RSI | Status |
|---|---|---|---|---|---|---|---|
| GLD | Gold | $441.88 | -4.8% | +6.9% | +20.7% | 55 | 🟢 Safe haven bid |
| SLV | Silver | $66.69 | -19.3% | -9.5% | +53.1% | 40 | 🔴 Continued selloff |
| COPX | Copper | $81.31 | -6.6% | +4.2% | +38.6% | 49 | 🟡 Pullback |
| USO | Oil | $76.69 | -1.1% | +11.9% | +8.2% | 64 | 🟢 Strong uptrend |
Pattern: Gold maintaining safe haven bid (+6.9% 30D, +20.7% 3M) despite 7D pullback. Silver still bleeding from flash crash (-19.3% 7D, now -9.5% 30D). Oil strengthening into $76+ range. Copper pulling back but 3M trend still strong.
Sectors
| ETF | Sector | Price | 7D | 30D | RSI | Status |
|---|---|---|---|---|---|---|
| SMH | Semiconductors | $381.07 | -7.0% | -1.7% | 42 | 🔴 Breaking down |
| XBI | Biotech | $120.72 | -1.1% | -1.1% | 43 | 🟡 Neutral |
| VNQ | REITs | $90.82 | +1.2% | +1.6% | 46 | 🟢 Defensive bid |
| EEM | EM | $58.53 | -1.8% | +2.2% | 53 | 🟢 Outperforming |
Pattern: Semis accelerating to downside (-7.0% 7D). REITs now showing defensive bid (+1.2% 7D), rare green print. Biotech fading from strength. EM still best relative performer.
Bonds, Rates & Volatility
| ETF | Type | Price | 7D | 30D | RSI | Status |
|---|---|---|---|---|---|---|
| TLT | Long Bonds | $87.48 | -1.1% | +0.6% | 46 | 🟡 Flat |
| UUP | Dollar | $27.09 | +1.2% | -0.3% | 41 | 🟡 Slight bid |
| VIXY | VIX | $28.42 | -2.3% | +12.5% | 62 | 🔴 Fear rising |
Pattern: VIX elevated (VIXY +12.5% 30D, RSI 62) - fear building. TLT slightly improved (+0.6% 30D) after weeks of weakness. Dollar catching a bid (+1.2% 7D) on risk-off.
Market Internals
| Signal | Status | Implication |
|---|---|---|
| VIXY (VIX) | $28.42 (+12.5% 30D, RSI 62) | 🔴 Fear elevating, hedging increasing |
| QQQM RSI | 35 | 🔴 Approaching oversold, but no bounce yet |
| VOO RSI | 37 | 🟡 S&P weakening, watch 35 level |
| IWM vs QQQ | Both weak (RSI 35) | 🔴 Rotation trade fading, broad weakness |
| Gold vs Dollar | Both up (GLD +6.9% 30D, UUP +1.2% 7D) | 🔴 Classic risk-off signal |
| Oil divergence | USO +11.9% 30D despite equity weakness | 🟡 Supply-driven, not demand |
| TLT stabilizing | +0.6% 30D, RSI 46 | 🟢 Bonds no longer falling |
Sector Rotation Map
| Rotation | From | To | Evidence |
|---|---|---|---|
| Risk-off | Tech (QQQM -4.2% 30D) | Gold (GLD +6.9% 30D) | Flight to safety |
| Defensive | Semiconductors (SMH -7.0% 7D) | REITs (VNQ +1.2% 7D) | Income/yield seeking |
| Real assets | Growth equities | Oil (USO +11.9% 30D) | Inflation hedge bid |
| EM divergence | US equities (VOO -2.1% 30D) | EM (EEM +2.2% 30D) | Capital rotating offshore |
| Broadening out | Small caps fading (IWM -0.1% 30D) | n/a | Value rotation stalling |
Actionable Signals
| Signal | Current | Trigger | Action |
|---|---|---|---|
| QQQM oversold | RSI 35, -4.2% 30D | RSI < 30 or reversal candle | Watch for bounce trade |
| VOO approaching oversold | RSI 37 | RSI < 35 with volume | Potential buy zone |
| Gold pullback entry | -4.8% 7D but +6.9% 30D | Hold $430 support | Add on dips |
| Silver capitulation | -19.3% 7D, RSI 40 | RSI < 30 or volume exhaustion | Watch for base building |
| SMH breakdown | -7.0% 7D, -1.7% 30D | Lose $370 support | Avoid longs, consider hedges |
| VIX elevated | VIXY +12.5% 30D, RSI 62 | VIXY RSI > 70 | Panic = opportunity |
| Oil breakout | USO +11.9% 30D, RSI 64 | Break $80 | Energy longs working |
| VNQ defensive bid | +1.2% 7D, +1.6% 30D | Sustained above $91 | Rate-sensitive bounce |
The Gold
What's Working
- Gold - Safe haven thesis intact. +20.7% 3M, pullback from highs is healthy. Strongest asset class on intermediate timeframe
- Oil - Steady grind higher (+11.9% 30D). Supply tightness overriding demand fears
- REITs - Rare bright spot. VNQ +1.2% 7D as money seeks yield/defense
- EM - EEM +2.2% 30D, +8.5% 3M. Non-US equities still attracting flows
What's Not Working
- Nasdaq/Tech - QQQM in freefall (-4.2% 30D, RSI 35). AI rotation + rate fears compounding
- Semiconductors - SMH -7.0% 7D, worst performer. Leading indicator of tech weakness
- Silver - Still unwinding parabolic move. -19.3% 7D, no sign of bottom
- Small caps - IWM rotation trade stalling. RSI 35 matching Nasdaq weakness
Key Thesis: Perfect Storm
Three forces converging to pressure risk assets:
Key Levels to Watch
- VOO $610 - Major support, ~2% below current. Break here = correction territory
- QQQM $240 - Psychological support, 2.4% below. Bears target
- SMH $370 - Must hold or semiconductor thesis in trouble
- GLD $430 - Pullback support. Buyers should show up here
- VIXY RSI 70 - Panic threshold. Historically marks short-term equity bottoms
Day-Over-Day Changes (vs 2026-02-04)
| ETF | Yesterday | Today | Change | Signal |
|---|---|---|---|---|
| VOO | $630.91 | $623.10 | -1.2% | Accelerating lower |
| QQQM | $249.38 | $245.83 | -1.4% | Tech leading down |
| SMH | $382.02 | $381.07 | -0.2% | Holding after -7% 7D |
| GLD | $453.97 | $441.88 | -2.7% | Sharp pullback |
| SLV | $79.18 | $66.69 | -15.8% | Crash continues |
| COPX | $86.61 | $81.31 | -6.1% | Copper cracking |
| IWM | $260.52 | $255.83 | -1.8% | Small caps joining selloff |
| VIXY | $26.75 | $28.42 | +6.2% | Fear spiking |
| TLT | $86.54 | $87.48 | +1.1% | Flight to bonds |
Commands
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Market overview
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Sector deep dives
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