Introducing the Vol Dash by TCM, a weekly update on markets and positioning through the lens of TCM’s Volatility Dashboard.
Vol Dash for week ended 6/18/26
After surging Monday on reports of a U.S.–Iran peace deal, markets saw choppy, range-bound trading for the rest of the week with notable weakness around Wednesday’s FOMC meeting where newly appointed Fed Chair Kevin Warsh struck a more hawkish tone than expected.
After a strong multi-week advance with VIX curve signals now only marginally bullish and VIX Thrust showing signs of a potential bottoming pattern, the market appears vulnerable to a “summer doldrums” phase. That said, earnings from AI bellwether Micron (MU) on Wednesday has the potential to shift the near-term tone.
TCM Volatility Dashboard Signals 1/2/24 - 6/18/26. Source: TCM. Click for larger image
Exposure Update for week ended 6/18/26
Tactical Beta and Tactical Q reduced index hedges last week, holding the remainder for potential post-expiration volatility.
Tactical Beta daily exposure, trailing 100 day as of 6/18/26. Source: TCM. Click for larger image
Tactical Q daily exposure, trailing 100 day as of 6/18/26. Source: TCM. Click for larger image