Invesco S&P 500® Momentum ETF (SPMO) — chart, structure and Closelook read

101 and glossary

• Factor RegimeGlossaryHow Closelook uses it The factor regime board publishes the SPMO/SPLV ratio, its percentile, its 50-day trend and the regime label nightly; it feeds the weather panel on every stock page next to the Money Temperature and the sector…

Dailies

• Real Rates — What TIPS and the Credit Tape Say About the AI Build-Out Before the FedDaily Pulse · 15 Sept 2026The momentum-over-low-volatility ratio (SPMO over SPLV) sits at the 88th percentile of its window but has fallen 2.7% in twenty days and 7.9% in sixty; the board’s regime label is “defensive rotation — low-vol leading”.
• Software's day: Snowflake soars 20%, ServiceNow jumps 6% and the software ETF turns positive for the yearMidday 10 · 3 Sept 2026One detail worth a second look: the Low Volatility ETF (SPLV, +0.7%) is beating the Momentum ETF (SPMO, +0.2%), so the rally is broad but not reckless.
• Software and semis sell off together at midday — the green sits outside techMidday 10 · 1 Sept 2026The Momentum (SPMO) / Low Volatility (SPLV) spread is narrow at -0.56% vs -0.13%, with low-vol outperforming — a mild but legible shift in factor leadership toward defense; Volatility (VIXY) is up 1.19%, consistent with that read.
• Verdict day two: six earnings windows close as MongoDB and GitLab printMorning 10 · 1 Sept 2026VIXY fell −5.26% over five days; momentum (SPMO +0.65%) is essentially flat on the week while low-volatility (SPLV −1.74%) is meaningfully lower — momentum outrunning its defensive counterpart even as the VIX itself firmed to 14.92 Monday…
• The morning chip slide rounds back to flat; oil takes the bidMidday 10 · 31 Aug 2026Momentum (SPMO, minus 0.43%) and Low Volatility (SPLV, minus 0.37%) run in lockstep, and Volatility (VIXY) is down 1.22% — no stress signature under a mildly red board.
• Daylight pays the five-print evening at scale — Salesforce +20%, Okta +27%, CrowdStrike +18%, Nvidia +7.6% — while ten of eleven sectors trade red and technology alone carries the index.Midday 10 · 27 Aug 2026The factor pair confirms the flip: Momentum (SPMO) +0.27% against Low Volatility (SPLV) −0.86%, with VIX crushed 4.8% to 14.48.
• Nvidia — A Catalyst for the Next LegDaily Pulse · 27 Aug 2026Wednesday's regular session, before any of the five reports crossed the wire, leaned the same defensive way the broader tape has leaned this week: the low-volatility basket outpaced the momentum basket, SPLV up 0.32% against SPMO's 0.07%…
• The five-print evening resolves bullish — Nvidia's supply-constrained 70% guide flips a muted release into a paid call, and Salesforce and CrowdStrike are paid double digits.Morning 10 · 27 Aug 2026The same session, SPLV rose 0.32% while SPMO rose only 0.07%, a defensive lean on the day the five prints landed — set against a Thursday morning where NQ futures sit up 0.65% and Asia closed green for a third consecutive day.