Geographic fragmentation is acute; the Euro Stoxx 50 (SX5E) has seen its Q Score fall to 1.9, with 72% of its constituents now in a Declining phase.
S&P 500 (SPX): Breakdown Below the Mean
The SPX identifies a market undergoing a significant regime shift. Momentum has turned negative as the index struggles with the inflationary implications of the Iran conflict.
Q Score & Velocity: The Weekly Q Score is -2.6 and Declining. Institutional conviction has faded, with the overall score change sitting at -1.0 this week.
Price Objectives: Trading at 6,672.62, the index is now below its Weekly Mean of 6,852.11. Critical support is identified at 6,590.55. A failure to hold this level on a weekly close necessitates a move to a 50% cash/liquid defensive posture.
Euro Stoxx 50 (SX5E): Velocity Exhaustion
The SX5E exhibits acute structural weakness, reflecting Europe's immediate exposure to energy supply shocks.
Q Score Signal: The Weekly Q Score is 1.9, having fallen by -1.7 this week, and remains Declining.
Institutional Footprint: A Negative Delta Reversal has been triggered, confirming the breach of the previous bullish trend. Resistance is firm at 6,284.69.
Multi-Asset Framework
Commodities: Energy, Gold, and Digital Assets
Brent Crude Oil: Holds a Q Score of 7.0 but is Declining. The "fear premium" is reaching maturity as the market anticipates global strategic releases.
Gold Spot (USD): Momentum is cooling (Q Score 1.3, Declining). The US Dollar's liquidity surge is currently crowding out the traditional safe-haven bid.
iShares Bitcoin Trust (IBIT): Carrying a Q Score of -8.9, it has entered a Bullish Inflection Surge (Advancing). It is functioning as a non-sovereign "Digital Gold" hedge amidst fiat volatility.
FX & Fixed Income
The Dollar Surge: USD/CHF (-7.9) and USD/CNH (-6.6) are both Advancing, confirming a flight to USD liquidity as global trade friction increases.
TIPS & Treasuries: iShares TIPS Bond ETF is Advancing (6.6), while the 7-10 Year Treasury (IEF) maintains a defensive 4.3 score, reflecting a flight to duration.
Thematic Deep Dive: Global Software Surge
We are identifying a coordinated Bullish Inflection Surge across the global Software complex. Institutional money is rotating into names providing the backbone for digital defense and infrastructure resiliency.
US Software Leaders
Palantir Technologies (PLTR) [-8.0, Advancing], Adobe Inc. (ADBE) [-8.1, Advancing], and Oracle Corp (ORCL) [-7.4, Advancing] are being accumulated at deep bases. CrowdStrike (CRWD) [-4.0, Advancing] and Intuit (INTU) [-7.9, Advancing] have also triggered Positive Reversals.
Global Infrastructure Leaders
High-conviction signals are emerging in Nemetschek SE (Germany) [-8.1, Advancing] and Sage Group (UK) [-8.0, Advancing]. Conversely, previous leaders like SAP SE (Germany) [-8.4, Declining] and Dassault Systemes (France) [-7.0, Declining] are undergoing momentum exhaustion. In Asia, Oracle Corp Japan [-7.6, Advancing] confirms the global nature of this infrastructure pivot.
Sector Update: Financials & Banks
Our negative outlook on Global Banks and Diversified Financials remains a core conviction. The Financial Select Sector (XLF) carries a Q Score of -5.4 and is Declining.
Validated Underweight
Names like BFF Bank (Italy) [-9.9, Declining] and Blue Owl Capital [-9.6, Declining] exemplify the broader sector's inability to accelerate.
The Australian Exception
Idiosyncratic strength persists in the Australian defensive insurance sector. Insurance Australia (IAG) [-7.4, Advancing] and Suncorp Group (SUN) [-8.7, Advancing] are Top Quantmatix leaders, successfully navigating the risk-premium surge.
Regional Focus: China and Australia
China: The Hang Seng (HSI) is Declining (-0.3), and the CSI 300 (SHSZ300) shows a score change of -1.9. The region remains a primary source of global momentum drag as trade and energy headwinds intensify.
Australia: The AS31 index has seen a score change of -8.0. While the broad index corrects, the institutional "footprint" in defensive financials provides a tactical overweight opportunity against a weak global backdrop.
Highest Conviction Stocks
Prioritized by: 1. Top Quantmatix, 2. TEVO, 3. Delta Reversals
SUNCORP GROUP (SUN) [-8.7, Advancing, Top Quantmatix]
Dual confirmation with a Positive Reversal and qSignal in a Surge state. High institutional conviction in defensive financials.
INSURANCE AUSTRA (IAG) [-7.4, Advancing, Top Quantmatix]
Matches the Bullish Inflection Surge criteria with a gold-star institutional footprint.
PALANTIR TECHNOLOGIES (PLTR) [-8.0, Advancing, TEVO]
High-velocity recovery play in defense analytics; institutional entry is confirmed at these levels.
ADOBE INC. (ADBE) [-8.1, Advancing, TEVO]
Leading software recovery; momentum pivoted at deeply oversold levels.
NEMETSCHEK SE (NET) [-8.1, Advancing, Delta Reversal]
German infrastructure software leader triggering a full momentum reversal.
CROWDSTRIKE (CRWD) [-4.0, Advancing, Delta Reversal]
Critical cybersecurity leader accelerating from a technical floor.
ORACLE CORP (ORCL) [-7.4, Advancing, Delta Reversal]
Structural accumulation for infrastructure resiliency.
Imperative
The Quantmatix data set mandates a defensive rotation. Investors must reduce exposure to broad global equity beta (SPX, SX5E) and rotate into the Bullish Inflection Surge identified in infrastructure software (PLTR, ADBE, NET), Australian defensive insurance (IAG, SUN), and the US Dollar complex. Use the SPX Weekly Mean of 6,852.11 as the critical risk pivot for North American exposure.
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Disclaimer: These insights are generated using AI and are provided for informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any security. The content may be incomplete or contain errors and should not be relied upon for investment decisions. Always consult a qualified financial adviser before making financial choices.
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Source: Quantmatix – Multi-Asset Macro & Equity Data
March 13, 2026
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