States

Where capital is flowing across the 40-ETF universe, as of the Friday New York close. Refreshed weekly. Model output, not recommendations.

Where capital is moving · Week 43 · Friday close

Capital is rotating into energy, healthcare, staples and value, and out of semis, North Asian tech and large-cap growth.

Flowing into · 11 of 36 in inflow

Energy (XLE) and Brazil (EWZ): furthest above their daily EMA55
Healthcare and biotech (XLV, IBB)
Staples, value and low volatility (XLP, IWD, USMV)
Software (IGV): +6.0% on the week
Turning up from below: equal-weight, materials and financials (RSP, XLB, XLF)

Flowing out of · 20 of 36 in outflow

Semis and North Asian tech (SMH, EWY, EWT): EWY 12.8% below its EMA55
Large-cap growth (QQQ, XLK, IWF, ARKK)
Emerging markets, China and India (EEM, MCHI, INDA)
Europe and Japan (EZU, EFA, EWJ)
Communications, industrials, small caps (XLC, XLI, IWM), gold (GLD) and clean energy (ICLN)

Scan of Fri 23 Oct 2026 · NY regular-session closes · H4 signal against D1 trend · 5 instruments neutral (XLU, TLT, KRE, XLY, SPY)

40-ETF flows scan

Sorted from furthest above the daily EMA55 to furthest below. State: Leading, Weakening, Improving or Lagging. Flow: the direction of money on the daily frame.

Ticker	Close	1D	1W	H4 signal	D1 trend	State	Flow	D55 slope	vs D55
EWZ	42.59	+1.77%	+1.82%	Bear	Bull	Leading	Inflow	Rising	+8.91%
XLE	69.33	+2.60%	+1.60%	Bull	Bull	Leading	Inflow	Rising	+8.63%
XLV	179.28	−1.11%	+1.45%	Bull	Bull	Leading	Inflow	Rising	+5.46%
IGV	110.59	+1.72%	+5.99%	Bear	Bull	Leading	Inflow	Rising	+5.12%
XLP	88.26	−1.92%	+0.73%	Bull	Bull	Leading	Inflow	Rising	+4.38%
USMV	102.95	−0.54%	+1.67%	Bull	Bull	Leading	Inflow	Rising	+3.08%
IBB	207.74	−0.86%	+2.85%	Bull	Bull	Leading	Inflow	Rising	+2.02%
IWD	257.42	−0.63%	+0.65%	Bull	Bull	Leading	Inflow	Rising	+1.74%
RSP	216.54	−0.77%	+1.14%	Bull	Bear	Improving	Inflow	Rising	+1.14%
XLB	51.31	−0.74%	+0.77%	Bull	Bear	Improving	Inflow	Rising	+1.14%
XLU	42.56	−0.72%	+0.83%	Bull	Bear	Improving	Neutral	Flat	+1.11%
TLT	81.34	−0.49%	+1.61%	Bull	Bear	Improving	Neutral	Flat	+0.85%
KRE	72.46	+0.07%	+3.80%	Bull	Bear	Improving	Neutral	Falling	+0.80%
XLF	55.9	−1.32%	+0.68%	Bull	Bear	Improving	Inflow	Rising	+0.64%
XLY	113.1	−1.66%	+0.57%	Bull	Bear	Improving	Neutral	Rising	−0.27%
SPY	759.97	−0.52%	−0.43%	Bear	Bull	Weakening	Neutral	Flat	−0.65%
VNQ	92.69	+0.04%	+1.01%	Bull	Bear	Improving	Outflow	Falling	−0.65%
EMB	91.65	−0.22%	+0.14%	Bull	Bear	Improving	Outflow	Falling	−1.15%
EFA	102.63	−0.50%	−0.89%	Bull	Bear	Lagging	Outflow	Falling	−1.95%
EWJ	94.1	−0.53%	−0.82%	Bear	Bull	Weakening	Outflow	Falling	−2.04%
QQQ	704.4	−0.01%	−0.76%	Bear	Bull	Weakening	Outflow	Falling	−2.76%
IWM	275.75	−0.33%	+1.96%	Bull	Bear	Lagging	Outflow	Falling	−2.81%
XLK	183.23	+0.49%	−0.13%	Bear	Bull	Weakening	Outflow	Falling	−2.96%
INDA	46.46	−1.90%	−2.52%	Bull	Bear	Lagging	Outflow	Falling	−2.98%
ARKK	81.99	+0.16%	+0.42%	Bear	Bull	Weakening	Outflow	Falling	−3.29%
IWF	119.61	−0.40%	−1.54%	Bear	Bull	Weakening	Outflow	Falling	−3.30%
EWT	104.9	+0.88%	−1.28%	Bear	Bull	Weakening	Outflow	Falling	−3.61%
XLI	164.62	−1.27%	−1.87%	Bear	Bear	Lagging	Outflow	Falling	−4.14%
EZU	64.63	−0.63%	−1.81%	Bull	Bear	Lagging	Outflow	Falling	−4.47%
XLC	105.51	−1.78%	−4.36%	Bear	Bear	Lagging	Outflow	Falling	−5.06%
GLD	366.61	−0.65%	−4.03%	Bear	Bear	Lagging	Outflow	Falling	−5.50%
EEM	62.01	+0.47%	−1.34%	Bear	Bear	Lagging	Outflow	Falling	−5.82%
MCHI	49	−0.04%	−4.30%	Bear	Bear	Lagging	Outflow	Falling	−6.96%
ICLN	16.02	−0.93%	−1.90%	Bear	Bear	Lagging	Outflow	Falling	−7.99%
SMH	527.2	+0.74%	−2.33%	Bear	Bear	Lagging	Outflow	Falling	−8.28%
EWY	151.26	+1.48%	+0.55%	Bear	Bear	Lagging	Outflow	Falling	−12.79%

Macro gauges

Ticker	Close	1D	1W	H4 signal	D1 trend	State	Flow	D55 slope	vs D55
VIX	19.44	+2.21%	−2.70%	Bull	Bull	Leading	Inflow	Rising	+18.40%
DXY	101.75	+0.13%	−0.03%	Bear	Bull	Leading	Inflow	Rising	+0.79%
US10Y	4.999	+0.77%	−1.61%	Bear	Bull	Weakening	Inflow	Rising	+0.47%
DFII10	2.64	−4.35%	−5.04%	Bear	Bull	Weakening	Inflow	Rising	−0.11%

Refreshed weekly from the Friday New York close; the full weekly read is published every Sunday in the Reports. Completed NY closes only; DFII10 dated Thu 22 Oct (FRED). General market research describing the output of a rules-based model: not investment advice or a personal recommendation, and not an invitation to buy, sell or hold any investment. Published by Blueprint Three Consulting Ltd, which is not authorised by the Financial Conduct Authority.