Market Pulse — 2026 06 20 (Macro Dashboard)

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Market Pulse — 2026 06 20 (Macro Dashboard)

Scan symbols 42
SPYQQQDIAIWMVTIXLKXLFXLEXLVXLIXLUXLPXLYXLBXLREXLCEFAEEMVWOFXIEWJTLTIEFHYGLQDBNDGLDSLVUSOCOPXUNGVIXYVXXVUGVTVMTUMQUALRSPSMHXBIXHBITB
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raw scan snapshot — prices as of scan date, not live 60 rows · screens, not recommendations

Risk-on grind intact: SPY/QQQ/DIA/IWM all strong-up with golden crosses and within ~3% of highs, vol collapsing (VIXY -13% 30D / RSI 37). Internal rotation is the story — semis (SMH +16% 30D), Japan (EWJ +7%) and EM (EEM +11%) lead; energy (XLE -9%), comms (XLC -6% / RSI 33), precious metals (GLD/SLV -6/-14%) and China (FXI -7%) are the weak hands. Latest bar Thursday 2026-06-18 (Friday 06-19 Juneteenth, US markets closed).

Quick Snapshot

Signal Reading
Overall 🟡 Risk-on uptrend with sharp internal rotation; no breadth break
Key insight Indices strong-up & near highs while vol collapses (VIXY/VXX RSI 37, -32% 3M); SMH +16% 30D leads, XLE/XLC/GLD/FXI lag
Leaders SMH (+16.2% 30D), EEM (+10.7%), MTUM (+12.0%), IWM (+8.5%), EWJ (+7.2%)
Laggards USO (-24.9% 30D), SLV (-14.3%), XLE (-9.1% / RSI 34), XLC (-5.7% / RSI 33), GLD (-5.9%)
RSI extremes None >70. Low: XLE 33.9, XLC 33, USO 33, FXI 33.8, VIXY 37, VXX 37.3, SLV 37.9, GLD 38.4
Freshness EFA, FXI (06-17, 2d stale from yfinance throttle)

Indices

ETF Price 7D 30D 3M 52wkHi RSI Trend Status
SPY $746.74 +1.81% +2.04% +12.16% -1.80% 57 strong-up 🟡 Healthy
QQQ $740.62 +0.38% +3.65% +24.89% -2.51% 59 strong-up 🟡 Healthy
DIA $515.52 -0.73% +4.64% +12.47% -1.65% 60 strong-up 🟡 Healthy
IWM $295.59 +0.02% +8.53% +19.65% -0.78% 61 strong-up 🟡 Healthy
VTI $369.99 -0.34% +1.34% +13.69% -1.16% 56 strong-up 🟡 Healthy
RSP $209.96 -1.59% +2.56% +8.61% -0.99% 56 strong-up 🟡 Healthy

Read: all six green, golden crosses, within ~2.5% of 52wk highs. Small caps (IWM +8.5% 30D) and equal-weight participation healthy — broad, not just mega-cap.

Sector ETFs (SPDR XL*)

ETF Sector Price 7D 30D 3M 52wkHi RSI Status
XLK Tech $191.44 +0.32% +7.19% +38.29% -5.12% 60 🟡 Strong
XLI Industrials $180.91 +1.34% +6.09% +10.27% -0.68% 63 🟡 Strong
XLF Financials $53.57 +0.04% +3.56% +9.35% -3.84% 62 🟡 Strong
XLB Materials $51.81 -2.07% +3.58% +8.53% -2.62% 54 🟡 Neutral
XLU Utilities $44.76 +0.54% -0.53% -3.82% -5.73% 52 🟡 Neutral
XLV Health Care $149.40 -2.50% +0.84% +1.90% -4.76% 48 🟡 Neutral
XLY Cons. Disc. $117.16 -0.77% -1.30% +6.80% -5.24% 50 🟡 Neutral
XLRE Real Estate $43.86 -3.69% -1.44% +4.63% -1.20% 45 🟡 Weak
XLP Cons. Staples $83.30 -2.62% -1.61% +1.62% -5.05% 46 🟡 Weak
XLE Energy $53.77 -4.08% -9.06% -9.42% -12.76% 34 🔴 Oversold/weak
XLC Comm. Svcs $109.45 -2.28% -5.73% -3.26% -6.71% 33 🔴 Strong-down

Read: cyclicals (XLK/XLI/XLF) lead; defensives (XLU/XLP/XLV) and rate-sensitive (XLRE) lag. XLE (RSI 34) and XLC (RSI 33, strong-down/death-cross) are the two broken sectors.

Rates & Credit

ETF Exposure Price 7D 30D 3M RSI Trend Status
TLT 20y+ Treasuries $86.75 +0.77% +3.00% -0.85% 62 weak-up 🟡 Firming
IEF 7-10y Treasuries $94.36 -0.08% +1.68% -0.45% 54 weak-up 🟡 Neutral
BND Agg Bond $73.34 -0.10% +1.56% +0.44% 56 strong-up 🟡 Neutral
LQD IG Credit $109.07 -0.30% +0.83% -0.11% 54 weak-up 🟡 Neutral
HYG High Yield $80.01 -0.15% +1.34% +1.98% 57 strong-up 🟡 Healthy

Read: credit calm — HYG strong-up and only -1.7% from high; no stress signal. Long bonds (TLT RSI 62) firming on the month but still below SMA200 (-1.3%). Rates backdrop supportive, not a headwind.

Commodities

ETF Commodity Price 7D 30D 3M 52wkHi RSI Status
COPX Copper Miners $85.48 -4.89% +7.70% +18.10% -14.51% 51 🟡 Strong (basing)
UNG Nat Gas $11.74 +5.98% +3.62% -6.53% -35.10% 55 🟡 Bounce
GLD Gold $387.12 -3.34% -5.92% -9.21% -24.05% 38 🔴 Pullback
SLV Silver $59.51 -7.37% -14.31% -9.39% -42.28% 38 🔴 Down
USO Crude Oil $114.87 -6.96% -24.90% -2.84% -25.45% 33 🔴 Pullback

Read: energy and precious metals are the macro weak spot — USO -24.9% 30D (RSI 33), SLV -14.3% 30D. Copper (COPX +18% 3M, +110% 1y) holds up structurally despite a -4.9% week. GLD pullback (-24% from high) but still +25% 1y.

Volatility

ETF Price 7D 30D 3M RSI Trend Status
VIXY $21.90 -2.71% -13.40% -32.92% 37 strong-down 🟢 Vol collapsing
VXX $22.80 -2.27% -13.01% -32.48% 37 strong-down 🟢 Vol collapsing

Read: vol in a regime-collapse — VIXY/VXX -32% over 3M, -26% below SMA200. Complacent/risk-on tape. Per the VIX-spike playbook this is the calm side, not a fire-sale trigger; watch for any sharp single-day reversal.

Factors & Style

ETF Factor Price 7D 30D 3M RSI Status
MTUM Momentum $338.52 +2.10% +12.03% +37.13% 66 🟡 Leading
VUG Growth $86.98 +0.07% -0.57% +16.35% 53 🟡 Neutral
VTV Value $216.50 -0.60% +3.58% +10.19% 63 🟡 Strong
QUAL Quality $215.89 -1.32% +1.48% +11.16% 56 🟡 Neutral

Read: momentum (MTUM +12% 30D, RSI 66) clearly leads; value (VTV RSI 63) outpacing growth (VUG flat 30D) on the month. Trend-following backdrop favorable.

Global

ETF Region Price 7D 30D 3M RSI Status
EEM EM $70.79 +1.64% +10.73% +23.50% 62 🟡 Leading
EWJ Japan $96.26 +2.46% +7.19% +15.10% 67 🟡 Leading
VWO EM (Vanguard) $60.77 +0.43% +3.53% +12.52% 58 🟡 Strong
EFA EAFE $103.78 (06-17, 2d stale) +0.03% +3.44% +9.22% 57 🟡 Strong
FXI China $33.65 (06-17, 2d stale) -5.29% -6.55% -6.32% 34 🔴 Strong-down

Read: ex-US risk appetite strong — EM (EEM +10.7% 30D) and Japan (EWJ RSI 67, +15% 3M) lead. China (FXI RSI 34, -21% from high, strong-down/death-cross) is the global laggard, dragging on broad EM only modestly.

Semis & Housing (Sub-sector Tells)

ETF Group Price 7D 30D 3M 52wkHi RSI Status
SMH Semis $659.88 +2.55% +16.20% +67.09% -2.57% 64 🟡 Leading
XBI Biotech $140.72 +3.69% +5.98% +15.03% -2.77% 62 🟡 Strong (breakout)
XHB Homebuilders $111.04 +2.19% +11.53% +12.48% -10.79% 63 🟡 Strong
ITB Home Constr. $99.25 +0.80% +15.29% +9.68% -15.89% 62 🟡 Strong (off lows)

Read: semis (SMH +67% 3M, RSI 64, near highs) remain the engine of the tape. Housing turning up hard on the month (ITB +15.3%, XHB +11.5% 30D) despite still being -11 to -16% from highs — rate-cut-hope rotation. Biotech (XBI breakout, +15% 3M) quietly joining the risk-on leadership.

Cross-Asset Read

Theme Signal
Equity trend 🟢 Intact — all indices strong-up, golden crosses, within ~2.5% of highs
Breadth 🟢 Broad — IWM +8.5% 30D, RSP healthy, semis+housing+biotech all participating
Vol 🟢 Collapsing — VIXY/VXX RSI 37, -32% 3M; risk-on/complacent
Credit 🟢 Calm — HYG strong-up, -1.7% from high; no stress
Rotation 🟡 Sharp — into semis/EM/Japan/momentum/housing; out of energy/comms/metals/China
Safe havens 🔴 Weak — GLD/SLV down, defensives (XLU/XLP/XLV) lagging; no flight-to-safety bid

Key Discoveries

Discovery Implication
Indices strong-up + VIXY/VXX RSI 37 collapsing Clean risk-on regime; trend-followers stay long
SMH +16% 30D + ITB/XHB +15/+12% 30D + XBI breakout Leadership broadening beyond mega-cap into housing/biotech
XLE RSI 34, XLC RSI 33, FXI RSI 34, USO RSI 33 Four distinct weak pockets (energy/comms/China/oil) — rotation, not contagion
GLD/SLV both RSI 38, no safe-haven bid Market not pricing fear; consistent with vol collapse

Mistakes (Don't Repeat)

Mistake Lesson
Reading XLE/XLC weakness as a market-wide top Indices near highs + credit calm + vol collapsing = isolated sector rotation
Treating GLD pullback as risk-off Gold falling *with* vol falling and stocks rising = risk-on, not flight-to-safety

Open Questions

  • Does housing's 30D surge (ITB +15%, still -16% from high) continue on rate-cut hope, or fade?
  • USO -24.9% 30D / RSI 33 — capitulation bottom or further downside in crude?
  • EWJ RSI 67 at highs — Japan leadership sustainable or due for a pause?
10 events
DateTypeEvent
Jun 16 ScanMarket Pulse Jun 25 ScanMarket Pulse — Macro Dashboard, June 25, 2026 Jun 26 ScanMarket Pulse — EOW Macro Dashboard Jul 7 ScanMarket Pulse — Macro Dashboard Jul 11 ScanMarket Pulse — Macro Dashboard May 29 ScanMarket Pulse Scan Jul 17 ScanMarket Pulse — Macro Dashboard Jul 25 ScanMarket Pulse — Macro Dashboard Jul 28 ScanMarket Pulse — Macro Dashboard Jul 31 ScanMarket Pulse — Macro Dashboard

No direct external sources are attached to this read.