Tape · market dashboard

The cross-asset posture is currently risk-on with medium confidence as of 2026-05-12. Two risk-on signals are firing against one risk-off signal: VIXY sits at the 13th percentile and copper is above its 50-day moving average with the copper-to-gold ratio up 3.05 percent over five days, while gold remains above its 5-day moving average with the gold-to-SPY ratio up 0.14 percent.

• Risk-on signals: VIXY at 13th percentile (below 30 threshold) and copper above 50d MA with copper/gold ratio +3.05% over 5 days.
• Risk-off signal: Gold above 5d MA and gold/SPY ratio +0.14%.
• SPY at 737.62 (up 0.83% one-day) in Sideways state. Posture is rules-based, not a forecast.