Notes · Jul 31, 2026
Cross-asset rails vs isolated SPY flow
Educational product note. Not investment advice. Inventory-honest — what ships today vs what is rolling out.
SPY tape is still the live classifier, but rails already exist for QQQ. Isolated SPY flow can look clean while Nasdaq has already broken its matching wall — classic lead-lag leak.
F2 adds an explicit SPY↔QQQ divergence flag on the Desk (regime / flip-side mismatch when SPY sits at a Grade-A rail). It is a feather for confluence, never a standalone trigger. Tape and graded alerts remain SPY-first.
See also Learn for how rails + tape grade together.
Not investment advice. Options involve substantial risk of loss. Levels and flow can be wrong or stale.