... IWM has held its own since the war broke out & that's with rates up. 0 20 40 60 80 100 Strategas Sentiment Dashboard Weekly Median Percentile of Inputs SENTIMENT COMPOSITE UP, BUT NOT AT EXTREMES (YET) Strategas Technical & Macro Research 8 5/15/2026 Top Quintile Bottom Quintile Equity ETF Flows S&P Futures Positioning 10-Day Put/Call Ratio VIX Curve I.I. Bull / Bear Ratio Consensus % Bullish AAII Bull/Bear Ratio Policy Uncertainty Median Percentile Strategas Sentiment ...

... Each of these themes are currently in Strategas Asset Management's Macro Thematic Opportunities ETF (SAMT). 5/14/26 Strategas Securities - Research Outlook PROPRIETARY INFORMATION - ... are now more than 18% of the S&P 500. With the recent performance, the SOXL ETF (3x leveraged long semiconductor ETF) has roughly doubled in size to surpass $20Bn in AUM. Because leveraged ETFs must rebalance daily, typically buying into rallies and selling into declines, SOXL has ...

See Appendix for Important Disclosures ETF Research Thursday, May 14, 2026 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com NEW FED CHAIR HAS $8 TRILLION AT PLAY Pairing off with one of Jason Trennert's Major Investment Themes of 2026 - A New Fed Chair Gets Tested - from our perch within the ETF ... We believe this is where Fixed Income ETFs, particularly the actively managed space, has a growth opportunity. Active Fixed Income ETFs are roughly 23% ...

... to S&P 500 Positive / Negative Trend Signals FYI... + TREND CHANGE FOR RICE Strategas Technical & Macro Research Proprietary Information - Please Do Not Redistribute 20 5/13/2026 Rough Rice Futures 50 & 200-Day MA Overbought / Oversold Positive ↑ / Negative ↓ Trend Signals WHEAT CONTINUES TO TURN UP AS WELL Strategas Technical & Macro Research Proprietary Information - Please Do Not Redistribute 21 5/13/2026 Wheat ETF: WEAT 50 & 200-Day MA Daily % Change with +/- 2 Std. ...

Semiconductors S&P 500 Industry Group % Weight Change Since 2/27/2026 Strategas ETF Research See Appendix for Important Disclosures ETF Research Tuesday, May 12, 2026 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com LIST OF ETFs TO HEDGE HIGH BETA Below is a list of stats that stand out to us today: * Semis are now 18.4% of the S&P 500. They were 14.2% at the start of 2026. The Tech sector is over 37%. * NVDA is larger than the Healthcare sector. ...

The Nasdaq 100 gained +5.50%, the small-cap Russell 2000 rose +1.72%, and the S&P 500 equal-weight index lagged once again, finishing only +0.64%. The VIX closed the week roughly unchanged at 17.19 versus 16.99 the prior week. ETF ... NVDA also advanced +8.44% on the week and is now +15.39% YTD. Other mega-cap tech names posted solid gains as well, lifting the Mag7 ETF (MAGS) by +4.11%. Software was another bright spot: IGV rose +5.22% as several names delivered outsized ...

Right now, it would be hard to claim that we are at a top. 2000 2007 Current Comments 1. Blow-off top ✓ ✓ X While there are pockets of the market like semiconductors that are stretched, the market is within a reasonable level above its 200-day moving average. 2. Heavy inflows into equity market funds ✓ ✓ X Flows into Equity ETFs reflect not only broad optimism but also a structural transition away from mutual funds. Trailing 12-month inflows are currently in the 69 th ...

... Positive ↑ / Negative ↓ Trend Signals MARKET CONTINUES TO VALIDATE OUR BULLISH AUSSIE DOLLAR CALL Strategas Technical & Macro Research 24 5/8/2026 AUDUSD 50 & 200-Day MA Overbought / Oversold Positive ↑ / Negative ↓ Trend Signals ✓ A$ confirming the strength among the Industrial metals with fresh highs of its own. URANIUM STOCKS LOOK READY TO GO AGAIN Strategas Technical & Macro Research 25 5/8/2026 Global X Uranium ETF: URA 50 & 200-Day MA URA Relative to S&P 500 ...

Lev Funds Net Positions Shorter Duration Futures OI 1M Tsy Futures OI Skews MOVE Index & Bond ETF Volatility Longer Duration Futures OI Tsy Net Issuance & RRF Operations Note/Bond Allotment + ... NEUTRAL 5/7/26 Please see the Appendix for important disclosures. BOND MARKET VOLATILITY: MOVE INDEX & BOND ETF ATM IMPLIED VOLATILITY Broad bond volatility has come in a bit and volatility on major ETFs remains around the midpoint of recent years. We're keeping this as long for now, ...

$0 $5,000 $10,000 $15,000 $20,000 Healthcare Staples Utilities Real Estate Discretionary Financials Materials Communications Energy Industrials Tech Sector ETF Flows ($MM) YTD Since Mar. '26 Low Strategas ETF Research See Appendix for Important Disclosures ETF Research Thursday, May 7, 2026 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com ENERGY ETF FOCUS... NOW WHAT? Be sure to look for Ryan Grabinski's Daily Macro Brief highlights on the Energy ...