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 7/2/26
The S&P 500 resumed its advance during the holiday-shortened week, recovering from the prior week’s pullback with a solid gain that sent a constructive message at the index level despite lingering questions around Fed policy, earnings growth, and the sustainability of the recent rally.
Volatility markets told a similar story with Dashboard signals improving as the VIX drifted lower through the week, suggesting that demand for near-term index protection remains muted even as the market absorbs pockets of rotation and weakness in some high-growth areas. For now, equity investors appear more focused on upside participation than downside protection, leaving broad-market volatility expectations contained.
TCM Volatility Dashboard Signals 1/2/24 - 7/2/26. Source: TCM. Click for larger image
Exposure Update for week ended 7/2/26
Index exposure was increased in Tactical Beta and Tactical Q as Dashboard signals became more supportive.
Tactical Beta daily exposure, trailing 100 day as of 7/2/26. Source: TCM. Click for larger image
Tactical Q daily exposure, trailing 100 day as of 7/2/26. Source: TCM. Click for larger image