Friday Free Brief · May 29, 2026 ★ Free for All

Coiled. SP500 + NAS100 at Maximum Compression. EARLY CYCLE Intact. BTC Diverging.

All three major equity indices are coiled simultaneously — SP500 at 85% compression, NAS100 at 86%, Russell 2000 at 84% — while sitting at or near highs. The regime is EARLY CYCLE: bonds and equities aligned, risk layer off (BTC BEARISH at $73,317, -3.73% from VWAP). Breadth is strong. The portfolio is at +214.64% cumulative with a 10.29× profit factor. The framework is loaded. Today's brief gives you the full macro read — the specific entries, triggers, and conviction scores go to paid subscribers.

Date May 29, 2026
Edition Friday Free
Regime EARLY CYCLE
Composite +3/9 · Macro Bonus +2
Access Free for All
Cantillon Flow
EARLY CYCLE
Bonds (Layer 1)
ON — Bullish
Equities (Layer 2)
ON — Bullish
Risk (Layer 3)
OFF — BTC Bearish
Composite
+3/9 · Macro Bonus +2
VIX Layer
1.5 · Low Fear (+) · VIX 16
Transition
→ Stable
Bd-Eq Corr
STRESS RECOVERY 0.73–0.98
Portfolio Track Record
Cumulative P&L
+214.64%
38 closed trades
Win Rate
55.3%
21W · 14L · 1B
Avg Win
+11.32%
Best: ASTS +77.36%
Avg Loss
−1.65%
Worst: BKNG −5.23%
Profit Factor
10.29×
Gross wins ÷ gross losses
Open / Unrealized
+39.41%
12 live positions

A 10.29× profit factor means average wins are 6.9× the size of average losses. The framework doesn't need a high hit rate — the asymmetry is the edge. At 55% win rate, that gap compounds. 12 positions live, +39.41% unrealized on top of the +214% closed.

The Read

EARLY CYCLE — bonds and equities aligned, risk layer off. Composite +3/9, Macro Bonus +2. This is the same regime as Thursday but with one important development: all three major US equity indices are now in near-maximum volatility compression simultaneously. SP500 COILED at 85%, NAS100 COILED at 86%, Russell 2000 COILED at 84%. That doesn't happen often. When three separate markets are wound this tight at the same time, the eventual breakout has breadth behind it before it even starts. The compression on SP500 and NAS100 upgraded overnight — they were Building 96% yesterday, now confirmed COILED. BTC remains the outlier: BEARISH, -3.73% from its institutional VWAP anchor, Dev Filter FAIL, risk layer stays off. Equities and Bitcoin are telling different stories right now. Watch $7,400 on SP500 as the VWAP anchor — that's where cost basis sits and where any pullback resets entry quality.

Market Breadth
A/D NET+40 (57 advancing) A/D RATIO3.35 A/D LINE+1,426 cumulative McCLELLAN+162.2 SUMMATION+11,982 % > 50 MA77.0% (short-term) % > 200 MA56.8% (structural)

3.35 advance-decline ratio means nearly 3.5 stocks are rising for every 1 falling. McClellan at +162.2 and Summation at +11,982 confirm this isn't a narrow tape — the participation is real. 77% of stocks above their 50-day MA signals short-term health; 56.8% above the 200-day is the structural backdrop improving. This is not a market being carried by three stocks.

The Indices — Coiled at Highs
S&P 500 (SP500) · 4H
7,579.64
BULLISH COILED 85% Conf 8 (2F) WR 80% (20/20)
VWAP Deviation
+1.79%
Dev Filter
OPEN (next signal qualifies)
Vol Compression
COILED (35) 85%
Conf Score
8 (2F)
Cantillon Flow
EARLY CYCLE
WR (500)
80% win · 15b avg (20/20 clean)

SP500 upgraded from Building 96% yesterday to confirmed COILED today — maximum volatility compression with institutional confirmation across two timeframes. The institutional VWAP anchor sits near $7,445, and price is holding +1.79% above it with the Dev Filter open. That means the next signal bar qualifies for entry, no reset required.

The 80% win rate on a perfect 20/20 track is the cleanest in the scan today. COILED compression with this kind of clean entry proximity is the setup profile that defines the framework's edge. The SD2L mean-reversion trigger is suggested in 2–4 bars — that's the confirmation window to watch. Bias intact unless price closes below $7,400 (VWAP anchor).

NAS100 · 4H
30,251.2
BULLISH COILED 86% Conf 6 (2F) WR 44% (9/9)
VWAP Deviation
+2.71%
Dev Filter
OPEN (next signal qualifies)
Vol Compression
COILED (35) 86%
Conf Score
6 (2F)
Cantillon Flow
EARLY CYCLE
WR (500)
44% win · 1.37b avg (9/9)

NAS100 has the highest compression reading in the index group — 86% COILED — but the lowest win rate. That combination is worth understanding. The compression is real: all three AVWAP anchors are converging to within a fraction of ATR of each other, creating a coiled spring. The 44% win rate reflects a different behaviour pattern in the NAS100 framework history — fewer clean wins, but the ones that do work tend to be extended moves given the volatility in tech.

Dev Filter is open at +2.71%, within the threshold. The setup exists. The signal quality difference between SP500 and NAS100 today — Conf 8 vs Conf 6, 80% vs 44% WR — is exactly the kind of prioritisation information that separates clean capital allocation from noise. Watch 29,600 as the VWAP anchor level; that's where the institutional cost basis sits and any pullback toward it would strengthen the next entry setup.

Russell 2000 · 4H
2,933.5
BULLISH COILED 84% Conf 8 (4F) — Highest Dev Filter FAIL
VWAP Deviation
+6.38% (outside 3% threshold)
Dev Filter
FAIL — too extended for new entry
Vol Compression
COILED (35) 84%
Conf Score
8 (4F) — highest in scan
Cantillon Flow
EARLY CYCLE
WR (500)
86% win · 22b avg (7/7 clean)

The Russell has the highest confidence score in the entire scan today — Conf 8 confirmed across four timeframes — and an 86% win rate on a perfect 7/7 track. It is also the most extended: +6.38% above its institutional VWAP anchor, well outside the 3% entry threshold. The framework's Dev Filter exists precisely for this situation — when an instrument is running hard, the entry deviation matters as much as the signal quality.

Russell is the leading instrument in the breadth story. Small caps with Conf 8 (4F) at this level of compression tells you institutional flow is concentrated, not diffuse. The reset zone to watch is $2,750–$2,800 — that's where the VWAP anchor sits and where the Dev Filter reopens. Fresh capital waits. Existing positions hold with conviction.

The Risk Layer — BTC Diverging
Bitcoin (BTC/USD) · 4H
$73,317
BEARISH Risk Layer OFF Dev Filter FAIL SD2L Setup 2–4 bars
VWAP Deviation
−3.73% (outside 3% threshold)
Dev Filter
FAIL — 3.73% outside threshold
Vol Compression
Expanded (35) 4%
Conf Score
5 (2F)
Cantillon Flow
EARLY CYCLE · Bd-Eq Corr 0.97
WR (500)
85% win · 32b avg (13/15)

BTC is the divergence story of the week. Equity indices are making new highs, compressing into COILED setups, breadth at 77% above 50MA — and Bitcoin is BEARISH, -3.73% below its institutional VWAP, Dev Filter FAIL, volume expanded. The risk layer that would confirm FULL RISK-ON is off. That's the ceiling for the current regime.

The bond-equity correlation on BTC reads STRESS RECOVERY at 0.97 — the highest in the scan. This isn't just price weakness; it's a macro signal. When risk assets diverge from equities at this magnitude, the usual resolution is either equities pull back to catch down, or BTC recovers sharply once the dislocation resolves. The framework won't fire a clean BTC entry either direction until the deviation compresses back within the 3% threshold (approximately $75,500 on the upside). Until then: observe, don't trade.

Key Observations
ISRG (Intuitive Surgical) — SD2L Extreme Signal [4 bars active]
ISRG is 23 bars into an oversold extreme mean-reversion signal (SD2L) at $423.62, with a -11.9% deviation below its institutional VWAP. The framework's SD2L signal on this instrument has a 100% win rate across 7 of 7 prior occurrences with an average 7-bar hold. The signal is 23 bars in, suggesting the acute phase of the setup has partially matured — but the deviation is still extreme enough to merit attention. Bearish bias overall (VWAP at $480+), but the snapback potential remains in play on any confirmation.
TRMB (Trimble) — SD2L Extreme Active, Building 94% Compression at −22.84% Dev
TRMB is the most extreme setup in the scan: -22.84% below its institutional VWAP, SD2L extreme signal active across two timeframes, and simultaneously building 94% volatility compression. That combination — extreme deviation + compression building — is unusual. It means institutional selling has been intense enough to push price to SD2 lower extreme, but volume is now compressing rather than expanding. The 100% win rate on 12/12 prior occurrences is the highest in the current scan. This is what the framework watches for when it's screening for distressed-and-loading setups.
Gold & Silver — Both BEARISH, Both Failing VWAP
Gold is at $4,524, -4.10% below its institutional VWAP, SD2L Extreme triggered 9 bars ago. Silver is at $75.585, -3.55% below VWAP, Conf 7 (2F), expanded volume at 65% of compression. Both precious metals showing bearish institutional flow while equities rally. This is consistent with an EARLY CYCLE read — in EARLY CYCLE, capital rotates toward risk assets rather than defensive stores. The divergence between metals weakness and equity strength reinforces the current regime diagnosis.
Single Stock Setups
CRISPR Therapeutics (CRSP) · 4H
$56.37
BULLISH Conf 8 (3F) Conv ACTIVE 88% Dev Filter OPEN WR 83% (12/13)
VWAP Deviation
+2.02%
Dev Filter
OPEN — next signal qualifies
Conv Status
ACTIVE 88%
Vol Compression
Expanded (25) 41%
Conf Score
8 (3F)
WR (500)
83% win · 20b avg (12/13 clean)

CRSP is the primary single-stock setup today. Institutional Convergence (the three AVWAP anchors converging into a tight zone) is ACTIVE at 88% — near-full convergence — while the Dev Filter is open at +2.02%. Conf 8 confirmed across three timeframes is the highest cross-timeframe score in the single-stock scan. The SD2L mean-reversion trigger is suggested in 1–2 bars, which is the confirmation window to watch.

The 83% win rate on 12/13 clean framework-following trades is the strongest single-stock track today. Institutional Convergence active at 88% with Conf 8 (3F) in EARLY CYCLE is the setup combination the framework was built around.

Execution
EntryCurrent zone ~$56–$57 · Dev Filter OPEN · Institutional Convergence 88% active
TriggerNext confirmed 4H signal bar · SD2L suggest 1–2 bars · set 3
Target 1~$59–$60 (AVWAP SD1 upper)
Target 2~$63–$64 (prior week high / AVWAP SD2)
Invalidation4H close below VWAP anchor (~$55.25) · Dev extends past 3.0% on new bar
ValidityValid while EARLY CYCLE holds and Institutional Convergence remains active
Deere & Company (DE) · 4H
$539.21
BEARISH Conf 7 (3F) Conv ACTIVE 84% Dev Filter OPEN Short within EARLY CYCLE
VWAP Deviation
−0.01% (essentially at VWAP)
Dev Filter
OPEN — at AVWAP cost basis
Conv Status
ACTIVE 84%
Vol Compression
Expanded (30) 11%
Conf Score
7 (3F)
WR (500)
84% — Institutional Cost signal

DE is a bearish setup inside a bullish macro — a single-stock short while the broader EARLY CYCLE regime supports equities. The logic: DE's institutional VWAP anchor sits at $539.21, and price is essentially zero deviation from it (-0.01%). That means the institutional cost basis is acting as resistance here. Institutional Convergence ACTIVE at 84% confirms the three AVWAP anchors are clustered — this is where the decision gets made.

A 5.1× extreme volume spike from last week shows on the chart, followed by a sharp down move and then a bounce back toward the VWAP level. The bounce to VWAP is the short trigger — it's the classic failed recovery at cost basis pattern. Conf 7 (3F) is strong confirmation. SD2L suggest window is 2–3 bars. Bearish bias unless DE closes above $542 on a 4H bar.

Execution
EntryShort at or near ~$539–$541 on VWAP rejection confirmation
Trigger4H bearish bar closing below VWAP anchor after test (~$539) · Conv ACTIVE 84%
Target 1~$525 (prior low / AVWAP SD1 lower)
Target 2~$515–$518 (AVWAP SD2 lower)
Invalidation4H close above $542 (Dev extends to +0.5% above VWAP with volume)
ValidityValid through next 3–5 bars · expires if macro regime shifts to FULL RISK-ON
Rigetti Computing (RGTI) · 4H
$27.03
BULLISH S2 Signal Confirmed Dev Filter PASS High Volatility Tier
VWAP Deviation
+1.55% → Dev Filter PASS +1F
Dev Filter
PASS — within threshold
Signal Tier
S2 Confirmed
Vol Compression
Expanded (25) 0%
Conf Score
4 (3F)
WR (500)
67% win · 33b avg (3/3 clean)

RGTI fired a confirmed S2 signal with Dev Filter PASS at +1.55% — within threshold for the high-volatility tier. The setup behind this: a 6.4× extreme volume spike followed by a 5.3× spike in the same period, which is an institutional accumulation signal at scale. Price held above the VWAP anchor and the signal tier confirmed. Conf 4 (3F) across three timeframes on a high-volatility crypto-adjacent name is meaningful — the framework applies strict standards to high-volatility instruments.

Dev Filter PASS means the current price is within the acceptable deviation range for a new entry — no need to wait for a reset. The 3/3 clean track is a small sample on RGTI specifically, but the signal type (S2 confirmed with extreme volume) has a strong broader track record. This is a momentum continuation setup, not a mean-reversion. Invalidation is clear: any 4H close back below the VWAP anchor (~$26.60) ends the setup.

Execution
EntryCurrent zone ~$27 · Dev Filter PASS · S2 confirmed — entry open now on signal bar
TriggerS2 signal confirmed · next qualified 4H bar add-on if Dev stays within threshold
Target 1~$29–$30 (AVWAP SD1 upper — high-vol tier uses wider bands)
Target 2~$32–$33 (AVWAP SD2 upper / prior week high)
Invalidation4H close below VWAP anchor ~$26.60 · position sizing accounts for high-vol ATR
ValidityValid while Dev Filter PASS and EARLY CYCLE regime holds · high-vol tier: tighter stops
Voyager Therapeutics (VYGR) · 4H
$3.89
BEARISH AVWAP Return Signal Dev Filter OPEN High Volatility Tier
VWAP Deviation
−1.01%
Dev Filter
OPEN — next signal qualifies
AVWAP Signal
Return signal at resistance
Vol Compression
Expanded (25) 28%
Conf Score
5 (2F)
WR (500)
67% win · 52b avg (30/30 bars)

VYGR fired an AVWAP return signal — price rallied into the AVWAP anchor from below, tested it as resistance, then printed a bearish rejection signal. The AVWAP return (F12 in the framework) on the bear side means ≥7 of the last 10 bars were below the rolling AVWAP, price rallied into it, and then closed back below with volume. VWAP anchor is the institutional distribution reference.

Dev Filter OPEN at −1.01% means the framework considers this a clean short entry — price is close enough to VWAP that the deviation hasn't extended excessively. The 67% win rate on 30/30 bars reflects strong consistency on this instrument specifically. Conf 5 (2F) is moderate — this is a secondary setup priority vs CRSP and DE today.

Execution
EntryShort ~$3.89–$3.95 on AVWAP return rejection confirmation
Trigger4H bearish close after AVWAP test · AVWAP return signal confirmed
Target 1~$3.50 (prior low zone / AVWAP SD1 lower)
Target 2~$3.20–$3.30 (AVWAP SD2 lower)
Invalidation4H close above AVWAP anchor (~$3.93) with volume — reclaim invalidates bear signal
ValidityValid while AVWAP declining and price below anchor · high-vol tier sizing
Zebra Technologies (ZBRA) · 4H
$247.76
BULLISH AVWAP Return Confirmed Dev Filter OPEN +0.76% Conf 3 (2F)
VWAP Deviation
+0.76%
Dev Filter
OPEN — tightest single-stock deviation today
AVWAP Signal
Return confirmed — multiple signals in history
Vol Compression
Expanded (25) 57%
Conf Score
3 (2F)
WR (500)
69% win · 44b avg (15/15 clean)

ZBRA has the tightest VWAP deviation in the single-stock scan today at just +0.76% — Dev Filter well within range. The AVWAP return signal fired: price pulled back to the rolling AVWAP anchor (anchored to the lowest low of the past 500 bars) and reclaimed it with volume. A 5.5× extreme volume spike in the history confirms institutional interest at the level. Multiple AVWAP return signals have fired on this instrument across the lookback period.

The caution here is Conf 3 (2F) — lower conviction than CRSP or DE. The 69% win rate on a perfect 15/15 clean track on this instrument offsets some of the confidence concern. At +0.76% Dev with the AVWAP return confirmed, this is a clean-entry setup but carries lower institutional confluence than the primary names. Size accordingly.

Execution
Entry~$247–$250 · Dev Filter OPEN at +0.76% · AVWAP return confirmed
Trigger4H bullish bar holding above AVWAP anchor with volume · SD2L suggest 1–2 bars
Target 1~$258–$260 (AVWAP SD1 upper)
Target 2~$268–$270 (prior week high / AVWAP SD2)
Invalidation4H close below AVWAP anchor (~$245.90) — AVWAP return fails, bias resets
ValidityValid while AVWAP rising and price holds above anchor · lower conviction — smaller size
Framework Key Levels — May 29
SP500: $7,579 (COILED 85%) → VWAP anchor ~$7,445 · Watch 29,600 NAS100 for compression anchor · Bias intact above $7,400
NAS100: 30,251 (+2.71% VWAP Dev) → Anchor ~29,440 · Dev Filter open · Watch for signal bar in 2–4 bars
Russell 2000: 2,933 (+6.38% Dev FAIL) → Reset zone $2,750–$2,800 · Too extended, fresh capital waits
BTC: $73,317 (BEARISH, -3.73% Dev FAIL) → Re-engage watch: VWAP reclaim ~$75,500 · Risk layer OFF until then
Gold: $4,524 (BEARISH, -4.10% Dev) → SD2L extreme 9 bars ago · Watch for volume confirmation on any bounce
Silver: $75.58 (BEARISH, -3.55% Dev FAIL) → Expanded volume · No new entries until Dev resets to within 3%
Three indices coiled simultaneously at highs, BTC failing the risk layer — EARLY CYCLE still stands, and the compression will resolve.
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This brief is for informational and educational purposes only. Not financial advice. All framework signals, win rates, and instrument analysis are derived from the IVT v13.3 indicator system and are presented for research purposes. Past performance of any setup or framework reading is not indicative of future results. Do your own research.