The Edge - InsiderStreet.ai

🔥 PRE MARKET MOVERS

Pre-Market Session • 07:00 ET • $0.0T Total Volume

📈 Top Gainers by $ Volume

LITE +7.89% $6.7B

AAOI +7.30% $1.4B

NET +6.65% $1.2B

SWMR +77.42% $1.2B

VG +14.49% $787M

DOCN +6.30% $542M

AXTI +9.92% $443M

FSLY +11.17% $414M

SEI +8.50% $351M

ZTO +7.50% $113M

📉 Top Losers by $ Volume

RKLB -11.59% $2.3B

CTMX -19.27% $179M

SAIL -15.23% $169M

HYMC -10.03% $162M

IAUX -13.58% $140M

KLAR -9.53% $128M

SA -12.45% $55M

QDEL -10.93% $47M

NG -12.22% $41M

USAS -11.13% $41M

🐷 PIG ROAST

VG +14.5% Scotiabank: Bank boys pump Venture Global +14.5% to $14.85, YTD +111% monster still licking wounds 37% off highs—analyst love covers the scars.

AXTI +9.9% Insider Dumps: Director Jesse Chen dumps 14k shares, yet AXTI rockets +9.9% to $48.76, YTD +76% and 1Y +2222%—insiders cash out while bagholders cheer.

FSLY +11.2% Insider Selling: CEO unloads $1.2M, insiders fleeing the rocket, but FSLY blasts +11.2% to $26.88—YTD +164%, suckers buying the top.

SEI +8.5% Expansion News: 900MW muscle flex and fresh cash send SEI +8.5% to $68.56, YTD +36% on 1Y +238% tear—energy beast keeps devouring.

QMMM +19.4% Nasdaq Warning: Nasdaq delinquency slapstick, yet QMMM leaps +19.4% to $119.40—1Y +7007% lunatic, down 61% from peak delusion.

RKLB -11.6% Story Shift: Defense bucks booming, backlog fat—traders still crater RKLB -11.6% to $69.48, YTD -9% after 1Y +264% joyride smash.

CDE -8.5% Mining Crash: New Gold deal to double cash flow, Fed spooks diggers—plunges CDE -8.5% to $19.26 despite YTD +10% and 1Y +199% gold rush.

TME -9.4% Earnings beat EPS $0.23 vs $0.03 est but revenue miss craters stock -9.4% to $10.30—YTD -42%, Jay Chou hype can't save the revenue flop.

PL -8.4% NVIDIA Tie-Up: GPU AI Earth brain with NVIDIA, yet PL tanks -8.4% to $24.81 pre-earnings—YTD +22% dream deferred.

TMDX -9.2% Cash Flow Hype: Scaling to cash flow bliss by late '26, fund piles in—traders ignore, slam TMDX -9.2% to $113.21 despite YTD flat.

💬 Word on the Street

Rep. Cleo Fields (D-LA) quietly added Microsoft (MSFT) while five insiders at Medallia (MDLN) unloaded $2.2 billion—and that's just the warm-up before the real fireworks. AXT Inc (AXTI) Director Jesse Chen dumped 14,000 shares as the stock rocketed +9.9%, Fastly (FSLY) CEO cashed out $1.2 million right before an +11.2% surge, and Scotiabank analysts pumped Venture Global (VG) up +14.5% in after-hours trading while smart money recorded a $4.3 billion net outflow for the day. Here's what the insiders, Congress, and institutions actually did with their money today.

🌤️ MARKET WEATHER

Presidential Cycle: Year 2 (2nd Term Year 2) • Donald Trump (R)

We're 56 days into Year 2 of Trump's second term, and both SPY and QQQ are running about 3% below where they typically sit at this point in the presidential cycle, with SPY also trailing its 20-year seasonal pattern by nearly 4%. History shows Year 2 of second terms has averaged around 3.5% full-year returns for SPY, and the typical pattern suggests another 1.5% gain materializes by mid-March as Q1 wraps up. The current underperformance relative to historical norms puts markets in a position where they'd need to outpace typical seasonal strength in the back half of Q1 and beyond to converge with the historical average—something institutional investors will be watching closely as they position portfolios for the remainder of the cycle.

SPY -3.2% YTD

2026 Actual

2nd Term Year 2 Avg

Year 2 Projection

vs 2nd Term Year 2: -3.2%

vs 20yr Seasonal: -3.7%

Day: 56 / 252

QQQ -3.2% YTD

2026 Actual

2nd Term Year 2 Avg

Year 2 Projection

vs 2nd Term Year 2: -2.2%

vs 20yr Seasonal: -5.1%

Day: 56 / 252

📊 2nd Term Year 2 years historically average 3.5% for SPY. Current YTD: -3.2%

📖 HOW TO READ THIS REPORT

The Big Idea: When insiders, institutions, AND politicians all bet on the same stock? That's convergence — and historically, these aligned signals tend to pack more punch than solo moves. We track the smart money so you don't have to.

Signal Badges

ETF Institutional funds adding/removing positions
INSIDER Corporate executives buying/selling their own stock
CONGRESS Politicians making trades (yes, we see you)

Momentum Icons

▲ + Buying Rising Stock: Smart money accumulating as price rises — ideal alignment
+ Buying Falling Stock: Smart money accumulating while price drops — falling knife risk
▲ - Selling Rising Stock: Smart money exiting while price still rising — warning signal
- Selling Falling Stock: Smart money exiting as price drops — confirms downtrend

The Bottom Line: Convergence + aligned momentum = strongest setups. Convergence + divergent momentum = proceed with caution. This isn't financial advice — it's intelligence. What you do with it is on you.

📚 Jargon Buster

Soft Landing

The Fed raising rates without killing the economy. Unicorn-level rare. Everyone talks about it, nobody’s seen it sober.

🎯 SMART MONEY CONVERGENCE

📈 Accumulation Detected (10)

EMR Emerson Electric Co. ⭐ CONGRESS INSIDER ETF

+ Buying Falling Stock 5D -6.9% 3M -5.4% 1Y +15.8%

1 member(s) purchased N/A • 10 insiders purchased $134.9M • 725 ETFs increased positions

MCD McDonald's Corporation ⭐ CONGRESS INSIDER ETF

▲ + Buying Rising Stock 5D -2.9% 3M -0.9% 1Y +5.7%

1 member(s) purchased N/A • 11 insiders purchased $133.5M • 1026 ETFs increased positions

ALKT Alkami Technology, Inc. ⭐ CONGRESS INSIDER ETF

+ Buying Falling Stock 5D -6.2% 3M -20.1% 1Y -32.3%

1 member(s) purchased N/A • 10 insiders purchased $120.4M • 160 ETFs increased positions

KVUE Kenvue Inc. ⭐ CONGRESS INSIDER ETF

+ Buying Falling Stock 5D -0.7% 3M +1.8% 1Y -22.8%

4 member(s) purchased N/A • 3 insiders purchased $119.3M • 707 ETFs increased positions

RTX RTX Corporation ⭐ CONGRESS INSIDER ETF

▲ + Buying Rising Stock 5D -1.3% 3M +12.3% 1Y +57.0%

3 member(s) purchased N/A • 18 insiders purchased $110.3M • 912 ETFs increased positions

JNJ Johnson & Johnson ⭐ CONGRESS INSIDER ETF

▲ + Buying Rising Stock 5D -2.4% 3M +10.8% 1Y +49.0%

2 member(s) purchased N/A • 12 insiders purchased $104.5M • 1261 ETFs increased positions

GD General Dynamics Corporation ⭐ CONGRESS INSIDER ETF

▲ + Buying Rising Stock 5D -0.1% 3M +3.8% 1Y +35.3%

1 member(s) purchased N/A • 32 insiders purchased $101.5M • 651 ETFs increased positions

BK The Bank of New York Mellon Corporation ⭐ CONGRESS INSIDER ETF

+ Buying Falling Stock 5D -2.1% 3M -2.0% 1Y +41.4%

2 member(s) purchased N/A • 11 insiders purchased $101.2M • 780 ETFs increased positions

HON Honeywell International Inc. ⭐ CONGRESS INSIDER ETF

▲ + Buying Rising Stock 5D -4.0% 3M +16.4% 1Y +11.0%

3 member(s) purchased N/A • 11 insiders purchased $97.9M • 827 ETFs increased positions

DIS The Walt Disney Company ⭐ CONGRESS INSIDER ETF

+ Buying Falling Stock 5D -1.5% 3M -10.0% 1Y +1.2%

3 member(s) purchased N/A • 26 insiders purchased $78.0M • 1038 ETFs increased positions

😱 VOLATILITY & FEAR

Equity market volatility declined substantially over the past week, with the VIX falling 10.3% to 22.37, though it remains in elevated territory above the 20 level that typically signals heightened investor concern. Meanwhile, bond market volatility moved in the opposite direction, as the MOVE index climbed 7.7% to 15.09, remaining at historically low levels. This divergence presents a mixed picture where equity traders are pricing in moderately elevated uncertainty while fixed income markets continue to reflect relative calm.

VIX

22.37

-10.3% WoW

📉

Elevated

MOVE

15.09

7.7% WoW

➡️

Low

|| Market Sutra ||

"The market is never fair, only consistent."

— Growth stocks with no earnings were rewarded for a decade because liquidity favored them

📊 MARKET REGIME

Market breadth remains narrow across major indices, with only about one-third of SPY and QQQ components advancing while IYT shows particularly weak participation at just 9%. The performance dispersion reveals a pronounced defensive tilt, as Energy and Utilities sectors demonstrate strength above 90% while growth-oriented areas including Semiconductors and Consumer Discretionary lag significantly below 25%. This divergence between defensive sector leadership and weak participation in economically sensitive areas suggests investors are positioning for increased uncertainty rather than broad-based expansion.

Sector Strength

⛽ Energy

90.9%

+2.5%

⚡ Utilities

90.3%

+1.2%

🏠 Real Estate

41.9%

-0.9%

🛒 Consumer Staples

36.1%

-2.3%

💻 Technology

31.0%

-1.8%

📡 Communication

30.4%

-2.9%

🏭 Industrials

27.8%

-2.5%

🧱 Materials

26.9%

-2.7%

🏥 Healthcare

23.3%

-3.7%

🛍️ Consumer Discretionary

20.8%

-3.1%

🔌 Semiconductors

20.0%

-1.8%

🏦 Financials

11.8%

-1.3%

📈 INDEX BREADTH

SPY

32.8%

BEARISH

QQQ

33.7%

BEARISH

DIA

30.0%

BEARISH

IYT

9.3%

BEARISH

💧 FED LIQUIDITY

Net Liquidity: $6.65 Trillion

↑ $17.4B WoW

As of March 11, Fed net liquidity stands at $6.65T, up $17.4B week-over-week, indicating an expansion in system-wide liquidity that historically correlates with supportive conditions for risk assets. The next H.4.1 release drops Thursday, March 19, which will show whether this liquidity injection trend continues or reverses.

📅 ECONOMIC CALENDAR Surprise Index: +2.2

Yesterday's producer price data delivered an inflationary shock, with both headline PPI and core PPI jumping 0.7% and 0.5% respectively against 0.3% estimates—the kind of double-miss that complicates the Fed's decision-making even as they held rates steady at 3.75% as expected. The more concerning signal came from Treasury International Capital flows, which collapsed to $15.5 billion in January from $96.5 billion prior and missed the $71.6 billion estimate by a wide margin, raising questions about foreign appetite for U.S. debt at a time when deficits remain elevated. Today's focus shifts to labor market resilience with initial jobless claims expected at 215,000 (up modestly from 213,000) and the Philadelphia Fed Manufacturing Index forecast to cool to 10.0 from 16.3, while tomorrow's CFTC positioning data will reveal whether speculators maintained their net short stance on the S&P 500 at -134,500 contracts amid this week's volatility.

Yesterday — Wednesday, March 18

12 events · 1 beat · 4 misses

11:00 MBA 30-Year Mortgage Rate (Mar/13) 6.3% vs None% est

12:30 Core PPI MoM (Feb) 0.5% vs 0.3% est

12:30 Producer Price Index MoM (Feb) 0.7% vs 0.3% est

14:00 Factory Orders MoM (Jan) 0.1% vs 0.1% est

14:30 EIA Gasoline Stocks Change (Mar/13) -5.436M vs -1.6M est

14:30 EIA Crude Oil Stocks Change (Mar/13) 6.156M vs 0.4M est

18:00 Fed Interest Rate Decision 3.75% vs 3.75% est

20:00 Net Long-Term TIC Flows (Jan) 15.5B vs 71.6B est

Today — Thursday, March 19

7 events · 7 upcoming

12:30 Continuing Jobless Claims (Mar/07) est 1850.0K / prev 1850.0K

12:30 Initial Jobless Claims (Mar/14) est 215.0K / prev 213.0K

12:30 Philadelphia Fed Manufacturing Index (Mar) est 10.0 / prev 16.3

12:30 Jobless Claims 4-Week Average (Mar/14) est 213.75K / prev 212.0K

14:00 New Home Sales (Jan) est 0.72M / prev 0.745M

16:00 Atlanta Fed GDPNow (Q1) prev 2.7

17:00 Atlanta Fed GDPNow (Q1) est 2.7% / prev 2.7%

Tomorrow — Friday, March 20

8 events · 0 high impact

14:30 CFTC S&P 500 speculative net positions prev -134.5K

14:30 CFTC Gold Speculative net positions prev 163.1K

14:30 CFTC Crude Oil speculative net positions prev 228.0K

14:30 CFTC Nasdaq 100 speculative net positions prev 24.9K

20:30 CFTC Gold Speculative net positions prev 163.1K

20:30 CFTC Nasdaq 100 speculative net positions prev 24.9K

20:30 CFTC Crude Oil speculative net positions prev 228.0K

20:30 CFTC S&P 500 speculative net positions prev -134.5K

🏦 INSTITUTIONAL FLOW

Exchange-traded funds showed mixed positioning in technology during the period, with 1,589 ETFs adding Microsoft and 1,478 adding Micron in semiconductors, while 1,087 ETFs simultaneously reduced Broadcom despite 1,528 adding positions. The split activity—10 ETFs net adding and 10 net removing across top movers—suggests institutional rotation within tech rather than broad sector exit, with healthcare name Gilead seeing 943 ETFs trim positions.

Top Buying

MSFT Microsoft Corporation ⭐

+ Buying Falling Stock 5D -3.2% 3M -17.5% 1Y +1.3%

1589 ETFs • 0 shares

AVGO Broadcom Inc. ⭐

+ Buying Falling Stock 5D -7.5% 3M -6.8% 1Y +63.6%

1528 ETFs • 0 shares

MU Micron Technology, Inc. ⭐

▲ + Buying Rising Stock 5D +10.3% 3M +94.4% 1Y +349.1%

1478 ETFs • 0 shares

NOW ServiceNow, Inc. ⭐

+ Buying Falling Stock 5D -1.7% 3M -25.7% 1Y -32.6%

1268 ETFs • 0 shares

JNJ Johnson & Johnson ⭐

▲ + Buying Rising Stock 5D -2.4% 3M +10.8% 1Y +49.0%

1261 ETFs • 0 shares

Top Selling

AVGO Broadcom Inc. ⭐

- Selling Falling Stock 5D -7.5% 3M -6.8% 1Y +63.6%

1087 ETFs • 0 shares

MSFT Microsoft Corporation ⭐

- Selling Falling Stock 5D -3.2% 3M -17.5% 1Y +1.3%

1004 ETFs • 0 shares

GILD Gilead Sciences, Inc. ⭐

▲ - Selling Rising Stock 5D -2.7% 3M +18.0% 1Y +28.5%

943 ETFs • 0 shares

MU Micron Technology, Inc. ⭐

▲ - Selling Rising Stock 5D +10.3% 3M +94.4% 1Y +349.1%

853 ETFs • 0 shares

NFLX Netflix, Inc. ⭐

▲ - Selling Rising Stock 5D -0.2% 3M +1.0% 1Y -0.3%

812 ETFs • 0 shares

🏛️ CONGRESSIONAL TRADES

Rep. Cleo Fields purchased Microsoft (MSFT) in two separate transactions, while Rep. Gilbert Cisneros added Federal Signal Corporation (FSS) to their holdings. On the selling side, Rep. Pete Sessions exited a position in Verizon (VZ), and Rep. Kelly Louise Morrison sold Arthur J. Gallagher & Co. (AJG) across two transactions, with the notable pattern being multiple trades of the same stock by individual representatives.

Top Buying

MSFT Microsoft Corporation ⭐ CONGRESS

+ Buying Falling Stock 5D -3.2% 3M -17.5% 1Y +1.3%

Rep. Cleo Fields (Cleo Fields) • $1,001 - $15,000

MSFT Microsoft Corporation ⭐ CONGRESS

+ Buying Falling Stock 5D -3.2% 3M -17.5% 1Y +1.3%

Rep. Cleo Fields (Cleo Fields) • $1,001 - $15,000

FSS Federal Signal Corporation ⭐ CONGRESS

+ Buying Falling Stock 5D -3.3% 3M -2.7% 1Y +37.1%

Rep. Gilbert Cisneros (Gilbert Cisneros) • $1,001 - $15,000

NDAQ Nasdaq, Inc. ⭐ CONGRESS

+ Buying Falling Stock 5D +0.2% 3M -8.1% 1Y +15.7%

Rep. April Delaney (April Delaney) • $1,001 - $15,000

IFNNY Infineon Technologies AG ⭐ CONGRESS

+ Buying Falling Stock 5D -6.0% 3M +8.2% 1Y +20.4%

Rep. Josh Gottheimer (Josh Gottheimer) • $1,001 - $15,000

Top Selling

VZ Verizon Communications Inc. ⭐ CONGRESS

▲ - Selling Rising Stock 5D -2.2% 3M +21.5% 1Y +19.3%

Rep. Pete Sessions (Pete Sessions) • $1,001 - $15,000

AJG Arthur J. Gallagher & Co. ⭐ CONGRESS

- Selling Falling Stock 5D -0.1% 3M -18.2% 1Y -35.9%

Rep. Kelly Louise Morrison (Kelly Louise Morrison) • $1,001 - $15,000

AJG Arthur J. Gallagher & Co. ⭐ CONGRESS

- Selling Falling Stock 5D -0.1% 3M -18.2% 1Y -35.9%

Rep. Kelly Louise Morrison (Kelly Louise Morrison) • $15,001 - $50,000

AJG Arthur J. Gallagher & Co. ⭐ CONGRESS

- Selling Falling Stock 5D -0.1% 3M -18.2% 1Y -35.9%

Rep. Kelly Louise Morrison (Kelly Louise Morrison) • $1,001 - $15,000

THR Thermon Group Holdings, Inc. ⭐ CONGRESS

- Selling Falling Stock 5D +1.4% 3M +20.5% 1Y +60.2%

Rep. Gilbert Cisneros (Gilbert Cisneros) • $1,001 - $15,000

👔 INSIDER ACTIVITY

Insider activity showed balanced signals this week with 15 accumulation and 15 distribution events, highlighted by concentrated selling at MDLN where 5 insiders sold $2.2B and FANG where 27 insiders sold $2.2B. On the accumulation side, SNDA recorded purchases or awards from 8 insiders, while CPNG and SVRE each saw 3 and 2 insiders adding positions respectively.

Cluster Buying

SVRE SaverOne 2014 Ltd ⭐ INSIDER

+ Buying Falling Stock 5D +17.4% 3M -10.4% 1Y -92.5%

2 insiders • $919.0M

SNDA Sonida Senior Living, Inc. ⭐ INSIDER

▲ + Buying Rising Stock 5D +6.7% 3M +13.9% 1Y +46.9%

8 insiders • $142.6M

CPNG Coupang, Inc. ⭐ INSIDER

+ Buying Falling Stock 5D +7.0% 3M -17.4% 1Y -14.6%

3 insiders • $136.6M

ALKT Alkami Technology, Inc. ⭐ INSIDER

+ Buying Falling Stock 5D -6.2% 3M -20.1% 1Y -32.3%

9 insiders • $119.6M

VRT Vertiv Holdings Co ⭐ INSIDER

▲ + Buying Rising Stock 5D -1.4% 3M +63.6% 1Y +197.4%

19 insiders • $75.3M

Heavy Selling

MDLN Medline Inc. ⭐ INSIDER

- Selling Falling Stock 5D -0.3%

5 insiders • $2.2B

FANG Diamondback Energy, Inc. ⭐ INSIDER

▲ - Selling Rising Stock 5D +7.4% 3M +23.1% 1Y +26.6%

27 insiders • $2.2B

SHC Sotera Health Company ⭐ INSIDER

- Selling Falling Stock 5D -1.2% 3M -18.1% 1Y +15.3%

2 insiders • $381.8M

WMT Walmart Inc. ⭐ INSIDER

▲ - Selling Rising Stock 5D -1.2% 3M +4.4% 1Y +40.8%

6 insiders • $344.9M

CRC California Resources Corporation ⭐ INSIDER

▲ - Selling Rising Stock 5D +2.9% 3M +37.2% 1Y +52.5%

5 insiders • $218.5M

📅 EARNINGS CALENDAR

Yesterday's session saw significant moves with SAIL declining 21.0%, OEZVY dropping 18.0%, while HTFL surged 14.7%. Today's slate of 353 companies reporting earnings includes ELSA.JK and VAPORES.SN showing recent accumulation patterns, while EMTK.JK and ARTO.JK have exhibited distribution signals ahead of their results. Tomorrow's calendar lightens considerably with 32 companies scheduled to report.

📊 Previous Earnings — March 18, 2026

360 reported • ✅ 38 beats • ❌ 28 misses

SAIL SailPoint, Inc. ⭐ MISS -21.0%

50

+ Buying Falling Stock

EPS: $0.08 vs $0.08 est (-0.1%)

OEZVY Verbund AG ⭐ MET -18.0%

70

▲ + Buying Rising Stock

EPS: $0.19 vs $0.19 est

HTFL Heartflow, Inc. Common Stock ⭐ BEAT +14.7%

30

+ Buying Falling Stock

EPS: $-0.12 vs $-0.17 est (+29.0%)

BGSI Boyd Group Services Inc. ⭐ BEAT -13.2%

30

+ Buying Falling Stock

EPS: $0.90 vs $0.63 est (+43.3%)

VIVA3.SA Vivara Participações S.A. ⭐ BEAT -12.9%

30

+ Buying Falling Stock

EPS: $1.06 vs $1.01 est (+5.0%)

MTE.DE Micron Technology, Inc. ⭐ BEAT +11.8%

70

▲ + Buying Rising Stock

EPS: $10.33 vs $7.78 est (+32.8%)

WB Weibo Corporation ⭐ MISS -11.8%

30

+ Buying Falling Stock

EPS: $0.25 vs $0.32 est (-20.8%)

BYD.TO Boyd Group Services Inc. ⭐ BEAT -11.1%

30

+ Buying Falling Stock

EPS: $1.24 vs $0.86 est (+43.7%)

MU Micron Technology, Inc. ⭐ BEAT +10.3%

70

▲ + Buying Rising Stock

EPS: $12.20 vs $9.19 est (+32.8%)

SCT.L Softcat plc ⭐ BEAT +8.3%

30

+ Buying Falling Stock

EPS: $0.33 vs $0.31 est (+5.4%)

🎯 Reporting Today — March 19, 2026

353 reporting • Smart Money:

108 acc •

156 dist •

89 neut

ELSA.JK PT Elnusa Tbk ⭐

70

▲ + Buying Rising Stock

VAPORES.SN Compañía Sud Americana de Vapores S.A. ⭐

70

▲ + Buying Rising Stock

081660.KS Misto Holdings Corp. ⭐

70

▲ + Buying Rising Stock

319660.KQ PSK Inc. ⭐

70

▲ + Buying Rising Stock

082270.KQ GemVax&KAEL Co.,Ltd ⭐

70

▲ + Buying Rising Stock

EPS: $42.00 vs $0.00 est

KKGI.JK PT Resource Alam Indonesia Tbk ⭐

70

▲ + Buying Rising Stock

601088.SS China Shenhua Energy Company Limited ⭐

70

▲ + Buying Rising Stock

1088.HK China Shenhua Energy Company Limited ⭐

70

▲ + Buying Rising Stock

601899.SS Zijin Mining Group Company Limited ⭐

70

▲ + Buying Rising Stock

600028.SS China Petroleum & Chemical Corporation ⭐

70

▲ + Buying Rising Stock

MU Micron Technology, Inc. ⭐

70

▲ + Buying Rising Stock

BANE.ME Public Joint Stock Oil Company Bashneft ⭐

70

▲ + Buying Rising Stock

BANEP.ME Public Joint Stock Oil Company Bashneft ⭐

70

▲ + Buying Rising Stock

1919.HK COSCO SHIPPING Holdings Co., Ltd. ⭐

70

▲ + Buying Rising Stock

601919.SS COSCO SHIPPING Holdings Co., Ltd. ⭐

70

▲ + Buying Rising Stock

📌 Next Earnings — March 20, 2026

32 reporting • Smart Money:

13 acc •

13 dist •

6 neut

1088.HK China Shenhua Energy Company Limited ⭐

70

▲ + Buying Rising Stock

1898.HK China Coal Energy Company Limited ⭐

70

▲ + Buying Rising Stock

9866.HK NIO Inc. ⭐

70

▲ + Buying Rising Stock

BKFCF Bank of Communications Co., Ltd. ⭐

70

▲ + Buying Rising Stock

2380.HK China Power International Development Limited ⭐

70

▲ + Buying Rising Stock

4300.SR Dar Al Arkan Real Estate Development Company ⭐

70

▲ + Buying Rising Stock

NIO NIO Inc. ⭐

70

▲ + Buying Rising Stock

0A1K.L NIO Inc. ⭐

70

▲ + Buying Rising Stock

BFT.WA Benefit Systems S.A. ⭐

70

▲ + Buying Rising Stock

XTB.WA XTB S.A. ⭐

70

▲ + Buying Rising Stock

📝 Today's Summary

Smart money flows this week paint a picture of cautious positioning and internal rotation rather than conviction in either direction. Insider activity landed in perfect equilibrium with 15 accumulation and 15 distribution events, though the concentration of selling drew attention—5 insiders at MDLN offloaded $2.2 billion while 27 insiders at FANG exited another $2.2 billion in what represents significant capital leaving specific names. On the accumulation side, SNDA attracted 8 insiders adding positions, while CPNG and SVRE saw 3 and 2 insiders respectively stepping in. Institutional flows through exchange-traded funds revealed rotation within technology rather than wholesale abandonment, as 1,589 ETFs added Microsoft (MSFT) and 1,478 added Micron (MU) in semiconductors, even as 1,087 ETFs reduced Broadcom (AVGO) despite 1,528 simultaneously adding it—resulting in a net wash of 10 ETFs adding and 10 removing across top movers. Congressional activity remained light but showed Rep. Cleo Fields purchasing Microsoft (MSFT) in two separate transactions, Rep. Gilbert Cisneros adding Federal Signal Corporation (FSS), while Rep. Pete Sessions exited Verizon (VZ) and Rep. Kelly Louise Morrison sold Arthur J. Gallagher & Co. (AJG) across two transactions. Markets are navigating an unusual confluence of signals 56 days into Year 2 of Trump's second term, with both SPY and QQQ running approximately 3% below their typical position at this point in the presidential cycle and SPY trailing its 20-year seasonal pattern by nearly 4%. History suggests Year 2 of second terms averages around 3.5% full-year returns for SPY, with typical patterns showing another 1.5% gain materializing by mid-March, which means current positioning would require above-average performance in coming months to converge with historical norms. The volatility landscape presents a split personality, as the VIX declined 10.3% to 22.37 but remains elevated above the 20 threshold that signals heightened concern, while the MOVE index measuring bond volatility climbed 7.7% to 15.09 yet stays at historically low levels. Market breadth tells a defensive story, with only about one-third of SPY and QQQ components advancing and just 9% participation in IYT, while Energy and Utilities sectors show strength above 90% compared to Semiconductors and Consumer Discretionary lagging significantly below 25%—a dispersion pattern that reflects positioning for uncertainty rather than expansion. The immediate catalyst watch centers on whether labor market data can provide counterbalance to yesterday's inflationary shock, where both headline and core PPI jumped well above estimates at 0.7% and 0.5% respectively against 0.3% forecasts, complicating Federal Reserve positioning even as they held rates steady at 3.75% as expected. More concerning was the collapse in Treasury International Capital flows to $15.5 billion in January from $96.5 billion prior, missing

Key themes: Watch convergence signals closely. Stocks where insiders, institutions, and politicians agree tend to show stronger directional moves.