Market Pulse

Daily US market sentiment across six dimensions — valuation, volatility, sentiment, breadth, cross-asset, and indices. Refreshes after the US close.

Latest snapshot · 2026-05-12
Volatility
VIX — S&P 500 implied volatility VIX
-2.12%
17.99
Normal
▼
Stay the course Source: yfinance as of 2026-05-12 close
VXN — NASDAQ 100 implied volatility VXN
-2.47%
24.13
Anxious
▼
Buy more Source: yfinance as of 2026-05-12 close
MOVE — Treasury implied volatility MOVE
+1.33%
71.68
Normal
▼
Stay the course Source: yfinance as of 2026-05-12 close
SKEW — S&P 500 tail-risk pricing SKEW
-0.57%
139.41
Tail alert
▼
Modest hedge Source: yfinance as of 2026-05-12 close
Breadth
% sectors above 200-day MA SECTORS_ABOVE_200DMA
81.82
Overheated
▼
Caution chasing Source: yfinance as of 2026-05-12 · 9/11 above 200DMA
RSP − SPY 1Y (equal vs cap weight) RSP_SPY_1Y
-10.61
Extreme concentration
▼
Defensive Source: yfinance as of 2026-05-12 · 1Y spread (pp)
IWM − SPY 1Y (small vs large cap) IWM_SPY_1Y
9.67
Small caps leading
▼
Risk-on Source: yfinance as of 2026-05-12 · 1Y spread (pp)
Cross-asset
HY OAS — high-yield credit spread (bps) HY_OAS
279.00
Normal
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Stay the course Source: fred as of 2026-05-11 · BAMLH0A0HYM2
10Y − 2Y Treasury spread (bps) YIELD_SPREAD_2_10
46.00
Just turned
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Cautious optimism Source: fred as of 2026-05-12 · T10Y2Y
DXY — US Dollar Index DXY
+0.36%
98.29
Neutral
▼
Normal allocation Source: yfinance as of 2026-05-12 close
Gold/Copper ratio GOLD_COPPER_RATIO
711.14
Deep risk-off
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Defensive first Source: yfinance as of 2026-05-12 · gold $/oz / copper $/lb
Sentiment
CNN Fear & Greed Index FEAR_GREED
66.60
Greed
▼
Caution chasing Source: cnn (degraded) as of 2026-05-12T22:03:35+00:00 · CNN dataviz (unofficial endpoint)
Put/Call ratio (CBOE equity) PUT_CALL_RATIO
1.29
Bearish
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Lean in Source: yfinance_options as of 2026-05-12 · SPY+QQQ+IWM 5-30d
NAAIM — active manager net long NAAIM_EXPOSURE
96.67
High exposure
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Caution chasing Source: naaim.org as of 2026-05-06 · NAAIM weekly