This is a rotational tape rather than a uniform move: the broad indices held mostly steady near their highs while two sectors posted the board's largest single-name reversals in opposite directions — XLE's RSI vaulted 17.3 points as energy caught a bid, while FXI cratered 18.3 points the other way — and the oversold band emptied down to just the two volatility products. All 42 names in this dashboard carry a fresh 2026-08-14 close (market-pulse) — no staleness caveat this cycle.

FROTH READ: vs VWAP = how far current price sits above/below the volume-weighted average buyer across the full history. Names far above VWAP are extended relative to their own average buyer's cost basis; names below VWAP have traded back through it.

The headline indices held largely steady near their highs even as real rotation ran underneath. RSP posted the sharpest move of the six broad benchmarks, RSI climbing from 64.9 to 71.0 — now the only broad index reading outright overbought — while QQQ (57.1→59.6) and IWM (59.4→63.7) both extended further. SPY (65.9→65.8) and VTI (65.9→66.9) held essentially flat, and DIA cooled from 63.6 to 59.8. All six remain within about two points of their 52-week highs, and none carries a death cross.

Energy was this cycle's standout sector move. XLE's RSI vaulted from 50.1 to 67.4 — a 17.3-point jump, the sharpest of any name on the entire board — as USO's oil bounce ran alongside it (7-day change flipping from -8.66% to +7.31%). XLU climbed out of its prior-cycle low (RSI 36.1→48.2), though its trend flag still reads "down," and XLF (63.7→67.3) and XLI (58.5→61.3) both extended further. XLY (62.1→55.8) and XLB (59.7→55.9) cooled the most, giving back some of last cycle's sharp gains — XLY remains death-crossed while XLB does not. XLC, the group's other death-crossed name, ticked up modestly (53.8→57.7).

FXI's reversal is the largest move in the opposite direction on this whole board — RSI collapsed from 64.7 to 46.4, an 18.3-point drop, its 7-day change flipping from -0.9% to -3.54%, and it remains death-crossed throughout. The rest of the international group held mostly steady (EFA, EWJ) or improved modestly (EEM, VWO cooled slightly). The bond complex's brief recovery out of oversold reversed again: TLT slid back toward RSI 40 (43.0→40.3), LQD (48.0→45.1) and BND (50.3→49.2) both dipped back below the RSI-50 line, and IEF held roughly flat just under 50. All four remain death-crossed. HYG, the one bond name that has never carried a death cross, held essentially flat at 62.4 — still the complex's cleanest chart.

UNG and USO both turned the corner this cycle: UNG's RSI cleared 40 for the first time in weeks (35.1→41.6, 30-day drawdown narrowing from -16.03% to -5.97%), while USO's weekly change flipped from -8.66% to +7.31%. COPX and GLD both cooled from elevated reads (66.1→57.9 and 65.3→63.3) while SLV held flat. VIXY and VXX both slid deeper into collapse regime (38.2→32.8 and 38.7→33.8) — now the board's only sub-40 names. In factors, VTV pushed into outright overbought (64.9→72.6) while MTUM's 30-day return turned positive for the first time this stretch (-1.76%→+1.45%). The industry group cooled broadly — XBI, ITB, and XHB all gave back some of last cycle's sharp gains, while SMH ticked up slightly but its trend flag stays weak-down.

1. XLE posted the sharpest move on the board: RSI 50.1→67.4 (+17.3), 7D -3.44%→+7.67%.
2. FXI reversed the opposite direction, the board's largest negative move: RSI 64.7→46.4 (-18.3), 7D -0.9%→-3.54%, still death-crossed.
3. The oversold band (RSI 25-40) narrowed from four names to two: XLU and UNG both cleared RSI 40, leaving only VIXY and VXX.
4. XLU climbed out of the board's weakest read: RSI 36.1→48.2, though its trend flag still reads "down."
5. UNG cleared RSI 40 for the first time in weeks: RSI 35.1→41.6, 30D -16.03%→-5.97%.
6. USO's weekly change flipped from negative to positive: 7D -8.66%→+7.31%, RSI 46.3→53.5.
7. The bond complex's recovery reversed again: TLT 43.0→40.3; LQD 48.0→45.1; BND 50.3→49.2 — all dipped back toward or below neutral, all still death-crossed.
8. RSP pushed into outright overbought, the only broad index above RSI 70: RSI 64.9→71.0.
9. VTV pushed into overbought: RSI 64.9→72.6.
10. VIXY and VXX both slid deeper into collapse regime: RSI 38.2→32.8 and 38.7→33.8.
11. COPX and GLD both cooled from last cycle's elevated reads: COPX 66.1→57.9; GLD 65.3→63.3.
12. XBI, ITB, and XHB all cooled from last cycle's sharp recoveries: XBI 60.0→58.2; ITB 56.6→51.4; XHB 55.8→51.7.
13. MTUM's 30-day return turned positive for the first time this stretch: -1.76%→+1.45%.
14. XLY and XLB both cooled the most among sectors that extended last cycle: XLY 62.1→55.8; XLB 59.7→55.9.

RSI < 30 = capitulation/oversold zone (context-dependent — check trend and death-cross flags before treating as a buy signal). RSI 30-50 = neutral-to-recovering. RSI 50-70 = healthy uptrend. RSI > 70 = overbought/extended. "vs SMA" shows how far price sits above/below its 20-day average. "vs VWAP" shows distance from the average buyer's cost basis across the instrument's full history — a rough measure of how "paid up" the current price is. A death cross (50-day average below the 200-day) flags a structurally damaged trend even when short-term RSI looks fine.

Read: No death crosses anywhere in this group, and all six sit within about two points of their 52-week highs. RSP's move into overbought is the standout; DIA is the one name that cooled rather than extended.

Read: XLE's move is the sharpest on the entire board; XLU followed it out of oversold territory though its trend flag hasn't confirmed yet. XLY and XLB were the two sectors that cooled the most after extending hard last cycle.

Read: FXI's reversal stands out sharply from the rest of the group, which held mostly steady or improved modestly.

Read: The complex's brief RSI recovery reversed again this cycle — TLT, LQD, and BND all slid back toward or below neutral. HYG remains the one exception, the only bond name in this basket that has never carried a death cross.

Read: UNG and USO both turned the corner this cycle while COPX and GLD cooled off last cycle's sharper reads; SLV held roughly flat.

Read: Both products ticked further down this cycle, consistent with the risk-on tone elsewhere on the board — no vol bid showed up in either name, and both are now the board's only sub-40-RSI names.

Read: Value pushed into outright overbought while Quality and Growth both cooled modestly. Momentum's 30-day flip to positive is the notable structural change — it's still the group's laggard on distance from its 52-week high.

Read: The whole industry group cooled off last cycle's sharp gains; SMH is the one name to tick up, though its trend flag is still the group's holdout.

This cycle reads as rotation rather than a uniform move in either direction. Broad indices and most sectors held their gains or extended modestly — no group looks like it's rolling over. But the two largest single-name RSI swings on the entire board pulled in opposite directions: XLE (+17.3) and USO's oil bounce on one side, FXI (-18.3) on the other, with no obvious connective thread between energy strength and the China reversal based on this tape alone. The bond complex's slide back toward RSI 40-50 (TLT, LQD, BND all easing) sits alongside the equity complex mostly holding or extending, which is a mild divergence worth tracking — bonds are not confirming the equity strength this cycle the way they briefly did last cycle. Vol products (VIXY, VXX) staying in collapse regime is consistent with the broad indices' calm read; nothing on this board points to a hedging bid building.

None on this board.

VIXY (32.8), VXX (33.8) — both vol products in collapse regime. Down from four names last cycle (XLU, UNG, VIXY, VXX) after XLU and UNG both cleared RSI 40 this cycle.

The remaining 40 names, led by VTV (72.6), RSP (71.0), XLE (67.4), XLF (67.3), VTI (66.9), and EFA (66.7).

• Whether XLE's sharp RSI move (50.1→67.4) and USO's reversal hold, or prove to be a one-week bounce.
• Whether FXI's steep reversal (64.7→46.4) is the start of a real pullback or a one-cycle wobble.
• Whether XLU and UNG's climb out of oversold survives given both still carry down/damaged trend flags.
• Whether the bond complex's renewed slide back toward RSI 40-50 (TLT, LQD, BND) deepens further or stalls again.
• Whether RSP and VTV's push into overbought exhausts or extends into the next cycle.

• Tape data (price/RSI/SMA/returns): full-scan pre-computed summaries as of the 2026-08-14 close — market-pulse.