ETF Market Structure Heat Map — August 28, 2026 | Midday

The early session produced fast moves away from the Open across several ETFs. Many of today’s reversals developed after those initial moves—not from broad consolidation around the Open.

ML STRUCTURE

ML1 Reached: 18

Currently at or above ML1: 4 / 18 (22.2%)

ML1 at or above Open: 6 / 18 (33.3%)

MS STRUCTURE

MS1 Reached: 29

Currently at or below MS1: 21 / 29 (72.4%)

MS1 at or below Open: 24 / 29 (82.8%)

REVERSALS

ML/MS Reversals: 6

Symbols: EEM, GLD, IAU, JNK, LQD, XHB

The distribution remains weighted toward downside structure, with several ETFs extending into MS2 and MS3 territory. The reversal count describes the path taken after rapid opening moves; it should not be interpreted as evidence that the market is consolidating.

Universe: 67 ETFs

Levels are calculated from the opening price and are dependent on the underlying data source.

For research and educational purposes only.