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Market Pulse
raw scan snapshot — prices as of scan date, not live 32 rows · screens, not recommendations superseded by2026-05-01-market-pulseported fromresearch/classic/scans/_archive/2026-02-11-market-pulse.mdscan slugmarket-pulsesource typescan-archive
Rotation deepens — VOO flat, VIXY low, gold holding ATH $464. Growth selloff continues: AMZN RSI 32, SHOP RSI 28, NOW RSI 24. Defensives still parabolic.
Quick Snapshot
| Signal | Reading |
|---|---|
| Overall | 🟡 LATE-CYCLE ROTATION — S&P flat while growth names get crushed. Defensive rotation extreme. Not a broad selloff. |
| Risk appetite | 🟡 Mixed — VIXY RSI 39 (low = complacent), but QQQ RSI 54 and major growth names deeply oversold. Bifurcated market. |
| Key insight | Growth massacre: AMZN RSI 32, SHOP RSI 28, NOW RSI 24, INTU RSI 28, CRM RSI 18. Defensives parabolic: JNJ RSI 87, GILD RSI 90, MCD RSI 86. Extreme divergence = opportunity. |
Asset Class Overview (Validated 2026-02-11)
Equities
| ETF | Name | Price | RSI | SMA20 | vs SMA | Status |
|---|---|---|---|---|---|---|
| VOO | S&P 500 | $639.19 | 64 | $634.95 | +0.7% | 🟢 Above SMA |
| QQQ | Nasdaq | $615.26 | 54 | $619.76 | -0.7% | 🟡 Below SMA |
| IWM | Small Cap | $266.97 | 55 | $263.53 | +1.3% | 🟢 Above SMA |
| DIA | Dow | $493.70 | 53 | $491.98 | +0.3% | 🟢 Above SMA |
| EEM | EM | $60.55 | 69 | $58.96 | +2.7% | 🟢 Outperforming |
| SMH | Semis | $408.39 | 58 | $399.25 | +2.3% | 🟢 Above SMA |
Pattern: S&P flat, Nasdaq lagging below SMA. Small caps and semis holding up. EM continues relative outperformance at RSI 69.
Commodities
| ETF | Asset | Price | RSI | SMA20 | Status |
|---|---|---|---|---|---|
| GLD | Gold | $464.41 | 57 | $448.92 | 🟢 Holding ATH |
| SLV | Silver | $74.78 | 44 | $84.05 | 🔴 Below SMA |
| COPX | Copper | $88.67 | 57 | $85.32 | 🟢 Uptrend |
| USO | Oil | $78.26 | 65 | $74.93 | 🟢 Strong |
Pattern: Gold consolidated at ATH $464. Silver still weak below SMA. Copper steady. Oil grinding higher.
Bonds & Volatility
| ETF | Type | Price | RSI | SMA20 | Status |
|---|---|---|---|---|---|
| TLT | Long Bonds | $87.44 | 62 | $87.28 | 🟡 Flat, at SMA |
| VIXY | VIX | $25.78 | 39 | $26.17 | 🟢 Complacent |
Market Internals
| Signal | Status | Implication |
|---|---|---|
| VIXY (VIX) | $25.78 RSI 39 | 🟢 Fear low, but deceptive — growth selling off |
| QQQ RSI | 54 | 🟡 Neutral — masks individual stock carnage |
| VOO RSI | 64 | 🟢 Healthy |
| Gold | $464 ATH, RSI 57 | 🟡 Holding safe haven gains |
| EEM RSI | 69 | 🟢 EM capital rotation continues |
| ARKK RSI | 24 | 🔴 Innovation basket crushed |
Sector Rotation Map
| Rotation | From | To | Evidence |
|---|---|---|---|
| Defensives surge | Growth | Defensives | JNJ RSI 87, GILD RSI 90, MCD RSI 86 |
| SaaS collapse | Cloud/SaaS | Cash/bonds | CRM RSI 18, NOW RSI 24, INTU RSI 28 |
| Gold holding | Risk assets | Gold | GLD at ATH $464, RSI 57 |
| EM outperformance | US growth | EM | EEM +2.7% above SMA, RSI 69 |
| Energy strength | Growth | Energy | XLE RSI 79, USO RSI 65 |
Actionable Signals
| Signal | Current | Trigger | Action |
|---|---|---|---|
| CRM extreme | $190, RSI 18 | Hold $185 | 📈 Highest conviction entry |
| NOW extreme | $103, RSI 24 | Hold $98 | 📈 IT workflow monopoly |
| AMZN oversold | $210, RSI 32 | Hold $205 | 📈 Cloud/retail giant |
| SHOP crushed | $119, RSI 28 | Hold $115 | 📈 E-commerce leader |
| ISRG capitulation | $476, RSI 9 | Any bounce | 📈 Surgical robotics |
| Defensives extreme | JNJ RSI 87, GILD RSI 90 | RSI > 80 | ⚠️ Don't chase |
Key Thesis: Rotation Intensifying
The rotation from growth to defensives is deepening, not reversing:
- VOO flat — S&P holding because defensives offset growth losses
- SaaS massacre — CRM RSI 18, NOW RSI 24, WDAY RSI 30, INTU RSI 28
- Defensives parabolic — JNJ, GILD, MCD, KO all RSI > 75
- Gold consolidated — $464 ATH, not falling = macro uncertainty persists
- ARKK RSI 24 — Innovation basket near capitulation
- IBIT RSI 29 — Even crypto selling off
Best opportunities: quality growth at extreme RSI (CRM, NOW, AMZN, SHOP, INTU)
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