Daily Morning Brief; June 16, 2026
Market Overview
The SPY is going for its 2nd straight close above the 21 EMA after that nasty shakeout earlier this month. Today’s gap up to 753 reclaims everything we lost on the June 5 and June 10 flushes, and the 8 EMA has crossed back over the 21 to put the stack in order. The whole structure is well above the 50 day at 724 and the 200 day at 684, so the bigger trend never broke. VIX down at 15.9 tells you the fear bid is gone. As long as we hold over the 21 at 741 this looks like a clean continuation higher, not a 1-day pop.
The standout is a heavy multi-print buy program in SPY, four blocks near 754 plus a QQQ buy over 742, all leaning long into the index tape. Tech got selective interest with a mid-market AMD print just over $55M. On the other side we saw sellers in bonds and credit, IEF and LQD both hitting the tape, which lines up with the risk-on lean in the equity blocks.
