# TRAI Daily Overview — Friday, November 6, 2026

> **Screening/research, not investment advice.** Generated automatically from TRAI's public APIs; every number below comes from the cited endpoints.

**Headline:** SPY +0.3% · Consumer Disc. -2.5% avg · VIX 25.6 (stress)  
**Duration:** 108.4 s · **Voice:** edge-tts (en-US-AndrewMultilingualNeural, rate +25%)  
**Engine run:** `2026-11-06_postclose_2026-11-06T21-49-57-619Z` (Nov 6, 2026, 4:49 PM ET)

## Daily Overview  `0.0s–12.8s`

TRAI daily overview for November 6. Screening and research, not investment advice. SPY rose 0.3%, QQQ 1.4% and the chip ETF SMH 3.6%.

## Market regime  `12.8s–40.5s`

The VIX, the market's 30-day implied volatility, fell 2.5 points to 25.6, a stress reading. SPY's realized volatility, how much it actually moved over 20 days, is only 20.2%; that 5.4-point gap is the volatility risk premium. The term structure, short-dated versus 3-month VIX, is in backwardation (stress: near-term fear > 3-month), a stress signal. TRAI's regime score is -55.0: risk-off and choppy.

## What moved — and why  `40.5s–46.9s`

DKNG fell 21.3% with no earnings in the data, so the cause is unknown here.

## Long momentum  `46.9s–60.4s`

Long momentum means a market-beating rise on heavy volume, closing above VWAP, the day's volume-weighted average price. ABNB led with a residual z-score of 5.4, a market-adjusted move about 5 times its normal noise.

## Short momentum & mean reversion  `60.4s–64.1s`

Short momentum had 1 names, led by TEAM.

## Scorecard — has it worked?  `64.1s–82.3s`

Over 126 replayed sessions, short momentum's expectancy, the average net profit per trade, is -0.23%, with a t-stat of -1.9: inside ±2, so it could be luck. Mean reversion — fade-short leg (after big up day) and Mean reversion (fade, both sides) clear that bar.

## Correlation clusters  `82.3s–92.4s`

Correlation clusters are stocks that move together: the largest, 26 names led by semis, has an average correlation of 0.64, so today's 1 shorts are about 1 independent bets.

## Earnings & gap risk  `92.4s–100.9s`

Gap risk is a jump past your stop overnight, often on earnings. 11 names report within 5 sessions, including picks VST on November 6.

## Sector rotation  `100.9s–108.8s`

Over 20 days, health care, staples and real estate lead SPY by 11 to 14 points; semis and tech trail by 18 and 12.

## Sources

- `/trai/api/latest` — Yahoo Finance public chart API (https://query1.finance.yahoo.com/v8/finance/chart/) — daily (6mo) and 5-minute (5d, incl. pre/post) bars. Unofficial, may be delayed.
- `/trai/api/regime` — Yahoo Finance public chart API, daily bars (2y): SPY, ^VIX, ^VIX9D, ^VIX3M and the full TRAI universe for breadth.
- `/trai/api/scorecard` — Yahoo Finance public chart API (daily, 2y; 5-minute 60d for the live-rule column) + TRAI stored runs in Vercel Blob.
- `/trai/api/events` — Yahoo Finance quoteSummary (calendarEvents, earnings: last 4 reported quarters with report timestamps) via anonymous cookie+crumb session; Yahoo chart API daily bars (2y) for price reactions.
- `/trai/api/correlations` — Yahoo Finance public chart API, daily bars (1y).
- `/trai/api/intraday` — Yahoo Finance public chart API, 5-minute regular-session bars (60-day maximum lookback Yahoo serves for 5m).
- `/trai/api/options` — Yahoo Finance public options endpoint (v7/finance/options) via anonymous cookie+crumb session; Yahoo chart API for realized vol and ^IRX.
- `/trai/api/macro` — FRED was unreachable from the server, so rates come from US Treasury daily yield-curve CSVs (home.treasury.gov) and dollar/credit use Yahoo Finance proxies (DXY, HYG/IEF, LQD/IEF); Yahoo Finance for sector ETFs and SPY.
- Explanations of *why* a stock moved are limited to what the data shows (earnings report dates/EPS surprise from `/trai/api/events`). Moves without a matching event are labeled as unexplained.