Strasmore Research
市場回顧 Matt Connor作者： Matt Connor · 更新於 2026-07-25

2026年7月6日市場回顧數字重點

成長股跳空領漲，QQQ勁揚，與上週四輪動完全相反；類股分歧達指數波動數倍，報價區間創月內最窄。

2026年7月6日週一——獨立紀念日長週末後的第一個交易日——以成長股帶動的跳空開高開局，並守住了漲幅。QQQ收盤1.39%，對比DIA的0.42%，與上週四的輪動正好相反，市場廣度全面走強：3861檔具流動性的個股上漲，2242檔下跌。盤中多數漲幅來自開盤的跳空缺口，該缺口定價於過去一個月中最窄的指數報價。以下所有數據均來自預存查詢。

記分板

變動比較的是7月6日最後一個正常交易分鐘K線，對比7月2日週四——中間隔了一個市場假日。

查詢SPY / QQQ / DIA / IWM — 7月6日 vs 7月2日收盤價，常規交易時段
每個數據背後的精確 SQL 語法
WITH prior AS (
    SELECT ticker, argMax(close, window_start) AS prior_close
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('SPY', 'QQQ', 'DIA', 'IWM')
      AND window_start >= '2026-07-02 13:30:00' AND window_start < '2026-07-02 20:00:00'
    GROUP BY ticker
),
sess AS (
    SELECT ticker,
           argMin(open, window_start) AS day_open,
           argMax(close, window_start) AS day_close,
           max(high) AS day_high,
           min(low) AS day_low,
           round(toFloat64(sum(volume)) / 1e6, 1) AS shares_traded_m
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('SPY', 'QQQ', 'DIA', 'IWM')
      AND window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00'
    GROUP BY ticker
)
SELECT
    s.ticker AS ticker,
    round(toFloat64(p.prior_close), 2) AS prior_close,
    round(toFloat64(s.day_open), 2) AS day_open,
    round(toFloat64(s.day_close), 2) AS day_close,
    round((toFloat64(s.day_open) / toFloat64(p.prior_close) - 1) * 100, 2) AS gap_pct,
    round((toFloat64(s.day_close) / toFloat64(s.day_open) - 1) * 100, 2) AS intraday_pct,
    round((toFloat64(s.day_close) / toFloat64(p.prior_close) - 1) * 100, 2) AS pct_change,
    round(toFloat64(s.day_high), 2) AS day_high,
    round(toFloat64(s.day_low), 2) AS day_low,
    s.shares_traded_m AS shares_traded_m
FROM sess s
JOIN prior p ON s.ticker = p.ticker
ORDER BY s.ticker

QQQ的1.39%在四檔指數ETF中領漲，DIA的0.42%則墊底——與週四完全相反，當時DIA上漲而QQQ下跌。SPY收在0.87%，IWM收在0.45%。跳空與盤中緩步推進是當日真正的輪廓：QQQ開盤較週四收盤高出1.01%，開盤到收盤僅再多漲0.38%；SPY的0.53%跳空缺口就貢獻了當日0.87%漲幅的大部分。IWM（0.07%）與DIA（0.17%）幾乎沒有跳空，而是在盤中緩步走高。

當日走勢是否異常？

查詢SPY 開盤至收盤波動，於過去一個月交易日中的排名（排名1 = 絕對波動最大）
每個數據背後的精確 SQL 語法
SELECT round(anyIf(oc_pct, d = toDate('2026-07-06')), 2) AS day_move_pct,
       arrayCount(x -> x > abs(anyIf(oc_pct, d = toDate('2026-07-06'))), groupArrayIf(abs(oc_pct), d != toDate('2026-07-06'))) + 1 AS abs_move_rank,
       count() AS sessions_compared,
       toString(min(d)) AS first_session
FROM (
    SELECT toDate(toTimeZone(window_start, 'America/New_York')) AS d,
           (argMax(toFloat64(close), window_start) / argMin(toFloat64(open), window_start) - 1) * 100 AS oc_pct
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker = 'SPY'
      AND window_start >= toDateTime('2026-06-06 00:00:00')
      AND window_start < toDateTime('2026-07-07 00:00:00')
      AND (toHour(window_start) * 60 + toMinute(window_start)) BETWEEN 810 AND 1199
    GROUP BY d
)

就指數層面而言，並無異常：SPY 開盤至收盤的 0.34% 變動幅度，在過去 19 個交易日中按絕對值排名為 13 — 屬於中等水準。盤中走勢平淡無奇；真正的波動發生在跳空缺口。

廣度：多方主導，成長股重回領先

查詢7月6日成交金額達100萬美元以上標的之漲跌家數比
每個數據背後的精確 SQL 語法
WITH per_ticker AS (
    SELECT
        ticker,
        toFloat64(argMaxIf(close, window_start, window_start < '2026-07-06 00:00:00')) AS prior_close,
        toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-06 00:00:00')) AS day_close,
        sumIf(toFloat64(close) * toFloat64(volume), window_start >= '2026-07-06 00:00:00') AS day_dollar_volume
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE (window_start >= '2026-07-02 13:30:00' AND window_start < '2026-07-02 20:00:00')
       OR (window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00')
    GROUP BY ticker
)
SELECT
    countIf(day_close > prior_close AND day_dollar_volume >= 1000000) AS advancers,
    countIf(day_close < prior_close AND day_dollar_volume >= 1000000) AS decliners,
    countIf(day_close = prior_close AND day_dollar_volume >= 1000000) AS unchanged,
    countIf(day_dollar_volume >= 1000000) AS liquid_tickers,
    count() AS tickers_traded_both_sessions,
    count() - countIf(day_dollar_volume >= 1000000) AS dropped_by_liquidity_filter,
    round(100.0 * countIf(day_close > prior_close AND day_dollar_volume >= 1000000)
        / countIf(day_dollar_volume >= 1000000), 1) AS advancer_pct
FROM per_ticker
WHERE prior_close > 0 AND day_close > 0

3861 檔上漲，2242 檔下跌，86 檔持平——流動性較高的個股中，有 62.4% 收高。指數加權與等權重廣度方向一致，雙雙收紅，而週四兩者則是分歧的。此篩選剔除了 11550 檔雙邊交易標的中，成交額低於 100 萬美元的 5361 檔。

板塊逐一檢視：分歧有多寬？

四檔巨頭無法代表整個市場。以下面板透過十一檔大型板塊 ETF 為當日定價——每個板塊一檔基金，對應標普 500 指數的一部分，每個交易時段追蹤的籃子都相同。觀察表現最佳與最差板塊之間的差距：即當日的離散程度。

查詢十一檔類股 ETF：7月6日 vs 7月2日收盤價，拆分為跳空與盤中表現
每個數據背後的精確 SQL 語法
WITH per_name AS (
    SELECT
        ticker,
        toFloat64(argMaxIf(close, window_start, window_start < '2026-07-06 00:00:00')) AS prior_close,
        toFloat64(argMinIf(open, window_start, window_start >= '2026-07-06 00:00:00')) AS day_open,
        toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-06 00:00:00')) AS day_close,
        round(sumIf(toFloat64(close) * toFloat64(volume), window_start >= '2026-07-06 00:00:00') / 1e9, 2) AS day_dollar_bn
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('XLB', 'XLC', 'XLE', 'XLF', 'XLI', 'XLK', 'XLP', 'XLRE', 'XLU', 'XLV', 'XLY')
      AND ((window_start >= '2026-07-02 13:30:00' AND window_start < '2026-07-02 20:00:00')
        OR (window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00'))
    GROUP BY ticker
)
SELECT
    ticker,
    round((day_close / prior_close - 1) * 100, 2) AS pct_chg,
    round((day_open / prior_close - 1) * 100, 2) AS gap_pct,
    round((day_close / day_open - 1) * 100, 2) AS intraday_pct,
    day_dollar_bn,
    round(max((day_close / prior_close - 1) * 100) OVER () - (day_close / prior_close - 1) * 100, 2) AS points_behind_leader
FROM per_name
ORDER BY pct_chg DESC, ticker ASC

科技板塊（XLK）以 1.71% 的漲幅領先全場，幾乎全數來自開盤跳空：開盤時為 1.19%，隨後六個半小時內為 0.52%。金融（0.99%）與工業（0.9%）板塊緊隨其後。接著情勢逆轉：五個上漲的板塊讓位給六個下跌的板塊，防禦性板塊——公用事業、醫療保健、必需消費品——跌幅最深達 -1.08%。從最高到最低，表現最佳與最差板塊相差 2.79 個百分點，而當日標普追蹤指數僅變動 0.87%——板塊差距是指數變動的好幾倍，這也說明了為何不能將一個上漲的交易日解讀為單一現象。房地產與公用事業的走勢與科技板塊相反：開盤近乎持平（0.09%、-0.11%），隨後整個交易時段一路下滑（開盤至收盤分別為 -1.01% 與 -0.92%）。

今日焦點：記憶體股大跌，收復一半失地

在週三和週四崩跌的記憶體與儲存類股，週一反彈——但僅收復一半失地。

查詢記憶體與儲存類股：相較週四收盤價之變動、區間時點與成交金額
每個數據背後的精確 SQL 語法
WITH per_name AS (
    SELECT
        ticker,
        toFloat64(argMaxIf(close, window_start, window_start < '2026-07-06 00:00:00')) AS prior_close,
        toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-06 00:00:00')) AS day_close,
        maxIf(toFloat64(high), window_start >= '2026-07-06 00:00:00') AS day_high,
        minIf(toFloat64(low), window_start >= '2026-07-06 00:00:00') AS day_low,
        argMinIf(window_start, toFloat64(low), window_start >= '2026-07-06 00:00:00') AS low_bar,
        argMaxIf(window_start, toFloat64(high), window_start >= '2026-07-06 00:00:00') AS high_bar,
        round(sumIf(toFloat64(close) * toFloat64(volume), window_start >= '2026-07-06 00:00:00') / 1e9, 2) AS day_dollar_bn
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('MU', 'SNDK', 'STX', 'WDC')
      AND ((window_start >= '2026-07-02 13:30:00' AND window_start < '2026-07-02 20:00:00')
        OR (window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00'))
    GROUP BY ticker
)
SELECT
    ticker,
    round(prior_close, 2) AS prior_close,
    round(day_close, 2) AS day_close,
    round((day_close / prior_close - 1) * 100, 2) AS pct_chg,
    round(day_high, 2) AS day_high,
    formatDateTime(toTimeZone(high_bar, 'America/New_York'), '%H:%i') AS day_high_et,
    round(day_low, 2) AS day_low,
    formatDateTime(toTimeZone(low_bar, 'America/New_York'), '%H:%i') AS day_low_et,
    round((day_high / day_low - 1) * 100, 2) AS range_pct,
    day_dollar_bn
FROM per_name
ORDER BY ticker

兩家硬碟製造商領漲：威騰電子7.14%與希捷6%，雙雙在上午中段觸頂（美東時間10:44和10:39）。權重最高的兩檔則原地踏步：美光僅上漲0.88%，在收盤K棒打出當日低點（15:59）；SanDisk終場-0.03%，全日振幅7.27%。美光仍成交$30.9億美元，超過其他三檔總和（美光深度解析涵蓋其季度表現）。

輪動的另一半則藏在巨型股內部：

查詢巨型股輪動：相較週四收盤價之變動、區間時點與成交金額
每個數據背後的精確 SQL 語法
WITH per_name AS (
    SELECT
        ticker,
        toFloat64(argMaxIf(close, window_start, window_start < '2026-07-06 00:00:00')) AS prior_close,
        toFloat64(argMaxIf(close, window_start, window_start >= '2026-07-06 00:00:00')) AS day_close,
        maxIf(toFloat64(high), window_start >= '2026-07-06 00:00:00') AS day_high,
        minIf(toFloat64(low), window_start >= '2026-07-06 00:00:00') AS day_low,
        argMinIf(window_start, toFloat64(low), window_start >= '2026-07-06 00:00:00') AS low_bar,
        argMaxIf(window_start, toFloat64(high), window_start >= '2026-07-06 00:00:00') AS high_bar,
        round(sumIf(toFloat64(close) * toFloat64(volume), window_start >= '2026-07-06 00:00:00') / 1e9, 2) AS day_dollar_bn
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('AAPL', 'MSFT', 'NVDA', 'TSLA')
      AND ((window_start >= '2026-07-02 13:30:00' AND window_start < '2026-07-02 20:00:00')
        OR (window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00'))
    GROUP BY ticker
)
SELECT
    ticker,
    round(prior_close, 2) AS prior_close,
    round(day_close, 2) AS day_close,
    round((day_close / prior_close - 1) * 100, 2) AS pct_chg,
    round(day_high, 2) AS day_high,
    formatDateTime(toTimeZone(high_bar, 'America/New_York'), '%H:%i') AS day_high_et,
    round(day_low, 2) AS day_low,
    formatDateTime(toTimeZone(low_bar, 'America/New_York'), '%H:%i') AS day_low_et,
    round((day_high / day_low - 1) * 100, 2) AS range_pct,
    day_dollar_bn
FROM per_name
ORDER BY ticker

特斯拉走出單邊攀升，直達6.86%——美東時間09:37打出低點，收盤K棒打出高點（15:59）——與其週四跌勢如出一轍。蘋果上漲1.49%，輝達上漲0.57%；微軟是唯一收黑的巨型股，跌幅-0.7%，高點出現在09:30開盤。

資金流向

查詢成交量領先者雙維度：成交金額前6名、成交股數前4名（一檔重複代碼因實體驗證中暫予排除）
每個數據背後的精確 SQL 語法
SELECT leaderboard, ticker, dollar_volume_bn, shares_m,
    round(100 * if(leaderboard = 'by dollars traded', dollar_volume_bn, shares_m)
        / max(if(leaderboard = 'by dollars traded', dollar_volume_bn, shares_m)) OVER (PARTITION BY leaderboard), 1) AS pct_of_board_leader
FROM (
    SELECT
        'by dollars traded' AS leaderboard,
        ticker,
        round(sum(toFloat64(close) * toFloat64(volume)) / 1e9, 2) AS dollar_volume_bn,
        round(sum(toFloat64(volume)) / 1e6, 1) AS shares_m
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00'
      AND ticker NOT IN ('SPCX')
    GROUP BY ticker
    ORDER BY dollar_volume_bn DESC
    LIMIT 6
    UNION ALL
    SELECT
        'by shares traded' AS leaderboard,
        ticker,
        round(sum(toFloat64(close) * toFloat64(volume)) / 1e9, 2) AS dollar_volume_bn,
        round(sum(toFloat64(volume)) / 1e6, 1) AS shares_m
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00'
      AND ticker NOT IN ('SPCX')
    GROUP BY ticker
    ORDER BY shares_m DESC
    LIMIT 4
)
ORDER BY leaderboard ASC, if(leaderboard = 'by dollars traded', dollar_volume_bn, shares_m) DESC

SPY以$31.49億美元領先成交金額榜，MU（$30.9億美元）緊追在後——終結了MU連續四個交易日的榜首位置（週一至週四的交易記錄可資證明）。在成交量榜上，SOXS——那檔三倍放空半導體的ETF——成交了467.1萬股，即使它所追蹤的半導體指數上漲，它仍再次位居成交量榜首。

查詢每30分鐘區間成交股數，常規交易時段（十億股）
每個數據背後的精確 SQL 語法
SELECT
    formatDateTime(toStartOfInterval(toTimeZone(window_start, 'America/New_York'), INTERVAL 30 MINUTE), '%H:%i') AS et_time,
    round(sum(toFloat64(volume)) / 1e9, 2) AS shares_bn,
    round(100 * sum(toFloat64(volume)) / max(sum(toFloat64(volume))) OVER (), 1) AS pct_of_biggest_bucket
FROM global_markets.delayed_stocks_minute_aggs
WHERE window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00'
GROUP BY et_time
ORDER BY et_time

開盤前半小時成交1.96億股，在14:30時出現0.68億股的日內低谷，接近15:30收盤時回升至2.1億股——典型的日內微笑曲線，尾盤交易最為密集。

選擇權市場掃描

查詢選擇權全日摘要列：成交量、買權佔比與週一當日到期合約
每個數據背後的精確 SQL 語法
WITH
    (
        SELECT (any(underlying_symbol), any(toFloat64(strike_price)), any(option_type),
                any(toDateOrNull(concat('20', substring(ticker, length(ticker) - 14, 6)))),
                sum(size), count(), round(avg(toFloat64(price)), 3))
        FROM global_markets.options_trades
        WHERE sip_timestamp >= '2026-07-06 00:00:00' AND sip_timestamp < '2026-07-07 00:00:00'
        GROUP BY ticker
        ORDER BY sum(size) DESC
        LIMIT 1
    ) AS top_contract,
    (
        SELECT round(toFloat64(argMax(close, window_start)), 2)
        FROM global_markets.delayed_stocks_minute_aggs
        WHERE ticker = 'SPY' AND window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00'
    ) AS spy_regular_close
SELECT
    round(count() / 1e6, 2) AS option_prints_m,
    round(toFloat64(sum(size)) / 1e6, 2) AS contracts_m,
    round(100.0 * sumIf(size, option_type = 'C') / sum(size), 1) AS call_pct_of_volume,
    round(100.0 * sumIf(size, substring(ticker, length(ticker) - 14, 6) = '260706') / sum(size), 1) AS same_day_expiry_pct,
    round(toFloat64(sumIf(size, substring(ticker, length(ticker) - 14, 6) = '260706')) / 1e6, 2) AS same_day_contracts_m,
    round(toFloat64(sumIf(size, underlying_symbol = 'SPY')) / 1e6, 2) AS spy_contracts_m,
    round(toFloat64(sumIf(size, underlying_symbol = 'QQQ')) / 1e6, 2) AS qqq_contracts_m,
    round(toFloat64(sumIf(size, underlying_symbol = 'TSLA')) / 1e6, 2) AS tsla_contracts_m,
    top_contract.1 AS top_contract_underlying,
    top_contract.2 AS top_contract_strike,
    top_contract.3 AS top_contract_type,
    if(top_contract.3 = 'C', 1, 0) AS top_contract_is_call,
    top_contract.4 AS top_contract_expiry,
    round(toFloat64(top_contract.5) / 1e6, 2) AS top_contract_volume_m,
    round(top_contract.7, 3) AS top_contract_avg_price,
    round(spy_regular_close - top_contract.2, 2) AS spy_close_minus_strike
FROM global_markets.options_trades
WHERE sip_timestamp >= '2026-07-06 00:00:00' AND sip_timestamp < '2026-07-07 00:00:00'

選擇權交易量達 60.98 百萬口合約，分佈於 10.53 百萬筆成交，其中 58.4% 為買權。當日到期合約佔總交易量的 38.7%（23.57 百萬口合約）—— 這是週一常規的零日到期份額，低於上週四因假期前夕而倍增的數字。最活躍的合約是當日到期的 SPY $751 買權，成交量 1.08 百萬口，均價 $0.564，而 SPY 收盤價高於履約價 $0.3 —— 處於價內狀態。買權位居榜首，與上週四以賣權作收的情況相反。

報價紀錄：跳空開高時，市場報價是否變寬？

每個成交價背後，都有一連串的報價流——全國最佳買價與賣價，針對每一檔掛牌股票持續更新。跳空開盤正是報價可能轉趨不友善的時刻，因此我們每個交易時段都會加以衡量。

查詢全市場股票 NBBO 報價流：7月6日 vs 7月2日交易時段，以及週一報價叢集區
每個數據背後的精確 SQL 語法
SELECT
    round(countIf(toDate(sip_timestamp) = toDate('2026-07-06')) / 1e6, 2) AS jul6_updates_m,
    round(countIf(toDate(sip_timestamp) = toDate('2026-07-02')) / 1e6, 2) AS jul2_updates_m,
    round((countIf(toDate(sip_timestamp) = toDate('2026-07-06')) / countIf(toDate(sip_timestamp) = toDate('2026-07-02')) - 1) * 100, 1) AS day_over_day_pct,
    round(countIf(sip_timestamp >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 14:00:00') / 1e6, 2) AS jul6_open_half_hour_m,
    round(countIf(sip_timestamp >= '2026-07-06 17:30:00' AND sip_timestamp < '2026-07-06 18:00:00') / 1e6, 2) AS jul6_midday_half_hour_m,
    round(countIf(sip_timestamp >= '2026-07-06 19:30:00' AND sip_timestamp < '2026-07-06 20:00:00') / 1e6, 2) AS jul6_close_half_hour_m
FROM global_markets.cache_stocks_quotes
WHERE (sip_timestamp >= '2026-07-02 00:00:00' AND sip_timestamp < '2026-07-03 00:00:00')
   OR (sip_timestamp >= '2026-07-06 00:00:00' AND sip_timestamp < '2026-07-07 00:00:00')

週一的報價紀錄承載了 391.96 百萬筆 NBBO 更新，週四則為 597.22 百萬筆——-34.4%，訊息量較假期前時段少了三分之一——而這些更新集中湧現在開盤時段：前半小時 58.66 百萬筆，相較於下午 1:30 的 20.74 百萬筆，以及收盤時段的 33.7 百萬筆。報價筆數雖少於週四，但價差並未因此變寬：

查詢跳空開盤時點流動性：中位數報價價差與報價頻率，美東時間9:30–9:42 vs 盤中對照組（各12分鐘）
每個數據背後的精確 SQL 語法
SELECT
    ticker,
    round(quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 13:42:00'), 2) AS open_spread_bps,
    round(quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-06 17:30:00' AND sip_timestamp < '2026-07-06 17:42:00'), 2) AS midday_spread_bps,
    round(quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 13:42:00')
        - quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-06 17:30:00' AND sip_timestamp < '2026-07-06 17:42:00'), 2) AS spread_delta_bps,
    round(countIf(sip_timestamp >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 13:42:00') / 1e3, 1) AS open_updates_k,
    round(countIf(sip_timestamp >= '2026-07-06 17:30:00' AND sip_timestamp < '2026-07-06 17:42:00') / 1e3, 1) AS midday_updates_k,
    round(countIf(sip_timestamp >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 13:42:00') / countIf(sip_timestamp >= '2026-07-06 17:30:00' AND sip_timestamp < '2026-07-06 17:42:00'), 1) AS quote_rate_ratio,
    round(count() / 1e6, 2) AS session_updates_m,
    countIf(bid_price <= 0 OR ask_price <= 0 OR bid_price > ask_price) AS dropped_invalid_quotes
FROM global_markets.cache_stocks_quotes
WHERE ticker IN ('DIA', 'IWM', 'MSFT', 'MU', 'QQQ', 'SNDK', 'SPY', 'STX', 'TSLA', 'WDC')
  AND sip_timestamp >= '2026-07-06 13:30:00' AND sip_timestamp < '2026-07-06 20:00:00'
GROUP BY ticker
ORDER BY ticker

買賣價差是跨越價差的成本，以中間價的基點來表示——對一檔 100 美元的股票而言，1 個基點等於 1 美分。在跳空開盤後的前十二分鐘內，沒有任何一檔受檢視的個股報價比盤中更窄，而 SPY 的價差觸及水準在兩個時段完全相同（0.27 基點，變動幅度為 0 基點），即便其開盤時的報價更新速度加快了 3 倍。價差擴大的懲罰落在個股身上，而非指數基金：SanDisk 付出的代價最高（+12.9 基點，從 8.16 升至 21.07），MU +3.63，TSLA +2.89，相較之下 QQQ 僅為 0.42 基點，而其價差觸及水準為 0.83 基點。Seagate 回答了「難道不是所有東西都具有流動性嗎？」這個問題：開盤時價差高達 30.94 基點，是 SPY 價差觸及水準的一百多倍。

查詢SPY 更新加權平均報價價差：7月6日於過去一個月中的排名（排名1 = 最窄）
每個數據背後的精確 SQL 語法
SELECT
    round(anyIf(avg_spread_cents, d = toDate('2026-07-06')), 3) AS jul6_avg_spread_cents,
    arrayCount(x -> x < anyIf(avg_spread_cents, d = toDate('2026-07-06')), groupArrayIf(avg_spread_cents, d != toDate('2026-07-06'))) + 1 AS tightness_rank,
    count() AS sessions_compared,
    round(max(avg_spread_cents), 3) AS widest_session_cents,
    round(avgIf(avg_spread_cents, d != toDate('2026-07-06')), 3) AS other_sessions_avg_cents,
    replaceAll(formatDateTime(min(d), '%M %e, %Y'), '  ', ' ') AS first_session,
    sum(dropped_invalid) AS dropped_invalid_quotes
FROM (
    SELECT toDate(toTimeZone(sip_timestamp, 'America/New_York')) AS d,
           avgIf(toFloat64(ask_price - bid_price), bid_price > 0 AND ask_price >= bid_price) * 100 AS avg_spread_cents,
           countIf(NOT (bid_price > 0 AND ask_price >= bid_price)) AS dropped_invalid
    FROM global_markets.cache_stocks_quotes
    WHERE ticker = 'SPY'
      AND sip_timestamp >= toDateTime('2026-06-04 00:00:00')
      AND sip_timestamp < toDateTime('2026-07-07 00:00:00')
      AND (toHour(sip_timestamp) * 60 + toMinute(sip_timestamp)) BETWEEN 810 AND 1199
    GROUP BY d
)

綜觀整個正規交易時段，7 月 6 日是 SPY 在過去一個月內價差最窄的一個交易時段：以更新量加權計算的平均報價價差為 1.815 美分，在自 June 4, 2026 以來的 21 個交易時段中排名第 1，而當月平均價差為 2.337 美分，最寬時曾達到 2.865 美分。假期因素導致報價筆數減少，卻仍為指數買家提供了盤面上成本最低的價差觸及水準。

利率：長週末期間曲線平靜

查詢公債殖利率曲線：7月6日 vs 7月2日數據（僅列有報價之期限）
每個數據背後的精確 SQL 語法
SELECT
    t.1 AS curve_point,
    round(t.2, 2) AS jul6_yield_pct,
    round((t.2 - t.3) * 100) AS session_change_bp
FROM (
    SELECT arrayJoin([
        ('1 month',  toFloat64(d.yield_1_month),  toFloat64(p.yield_1_month)),
        ('3 month',  toFloat64(d.yield_3_month),  toFloat64(p.yield_3_month)),
        ('1 year',   toFloat64(d.yield_1_year),   toFloat64(p.yield_1_year)),
        ('2 year',   toFloat64(d.yield_2_year),   toFloat64(p.yield_2_year)),
        ('5 year',   toFloat64(d.yield_5_year),   toFloat64(p.yield_5_year)),
        ('10 year',  toFloat64(d.yield_10_year),  toFloat64(p.yield_10_year)),
        ('30 year',  toFloat64(d.yield_30_year),  toFloat64(p.yield_30_year)),
        ('2s10s spread', toFloat64(d.yield_10_year - d.yield_2_year), toFloat64(p.yield_10_year - p.yield_2_year))
    ]) AS t
    FROM (SELECT * FROM global_markets.treasury_yields WHERE date = '2026-07-06') AS d,
         (SELECT * FROM global_markets.treasury_yields WHERE date = '2026-07-02') AS p
)

長週末期間曲線幾乎沒有變動。10年期公債殖利率維持在 4.48%，2年期與10年期利差則在 0.35 個百分點，兩者與7月2日的數據差距都在一兩個基點以內；3個月期是唯一值得注意的變動者，變動幅度為 5 個基點。

The calendar behind the day

查詢7月6日公司行事曆與資訊流，單列呈現（包含篩選器陷阱背後的股票反分割牆）
每個數據背後的精確 SQL 語法
WITH
    (
        SELECT (count(), uniqExact(publisher))
        FROM global_markets.stocks_news
        WHERE toDate(toTimeZone(published_utc, 'America/New_York')) = '2026-07-06'
    ) AS news,
    (
        SELECT (argMax(t, n), max(n))
        FROM (
            SELECT t, count() AS n
            FROM (
                SELECT arrayJoin(tickers) AS t
                FROM global_markets.stocks_news
                WHERE toDate(toTimeZone(published_utc, 'America/New_York')) = '2026-07-06'
            )
            WHERE t != 'SPCX'
            GROUP BY t
        )
    ) AS top_news
SELECT
    (SELECT count() FROM global_markets.stocks_dividends WHERE ex_dividend_date = '2026-07-06') AS ex_dividend_records,
    (SELECT count() FROM global_markets.stocks_splits WHERE execution_date = '2026-07-06') AS splits_executed,
    (SELECT countIf(toFloat64(split_from) > toFloat64(split_to)) FROM global_markets.stocks_splits WHERE execution_date = '2026-07-06') AS reverse_splits,
    (SELECT countIf(toFloat64(split_to) > toFloat64(split_from)) FROM global_markets.stocks_splits WHERE execution_date = '2026-07-06') AS forward_splits,
    (SELECT count() FROM global_markets.stocks_ipos WHERE listing_date = '2026-07-06') AS ipos_listed,
    (SELECT uniqExact(accession_number) FROM global_markets.stocks_sec_edgar_index WHERE filing_date = '2026-07-06') AS sec_filings,
    (SELECT uniqExactIf(accession_number, form_type = '4') FROM global_markets.stocks_sec_edgar_index WHERE filing_date = '2026-07-06') AS insider_form4_filings,
    (SELECT uniqExactIf(accession_number, form_type = '8-K') FROM global_markets.stocks_sec_edgar_index WHERE filing_date = '2026-07-06') AS filings_8k,
    news.1 AS news_articles,
    news.2 AS news_publishers,
    top_news.1 AS most_covered_ticker,
    top_news.2 AS most_covered_articles

118 dividend records went ex-dividend, 15 splits executed, 0 new listings arrived, and the SEC index logged 3161 filings — 1219 Form 4s, 201 8-Ks — a lighter book than the pre-holiday Thursday. The news feed carried 236 articles, the most-covered name NVDA at 25.

反向股票分割築起的漲幅榜高牆

在 14 筆股票分割中，有 15 筆是反向分割——也就是股份合併，多數發生在股價低於一美元時——而正向分割僅有 1 筆。反向分割將多股舊股合為一股，價格按比例提高，未經調整的篩選器會將其顯示為三位數的「漲幅」，但實際上並未產生任何收益。整面高牆如下：

查詢7月6日執行之所有股票分割，含調整前後收盤價（常規交易時段前後無完整報價者已剔除）
每個數據背後的精確 SQL 語法
SELECT
    s.ticker AS ticker,
    toFloat64(s.split_from) AS old_shares,
    toFloat64(s.split_to) AS new_shares,
    round(toFloat64(s.split_from) / toFloat64(s.split_to), 0) AS old_shares_per_new,
    p.prev_close AS jul2_close,
    d.day_close AS jul6_close,
    round((d.day_close / p.prev_close - 1) * 100, 1) AS unadjusted_pct_chg
FROM (
    SELECT ticker, any(split_from) AS split_from, any(split_to) AS split_to
    FROM global_markets.stocks_splits
    WHERE execution_date = '2026-07-06'
    GROUP BY ticker
) s
INNER JOIN (
    SELECT ticker, round(toFloat64(argMax(close, window_start)), 2) AS prev_close
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE window_start >= '2026-07-02 13:30:00' AND window_start < '2026-07-02 20:00:00'
      AND ticker IN (SELECT ticker FROM global_markets.stocks_splits WHERE execution_date = '2026-07-06')
    GROUP BY ticker
    HAVING prev_close > 0
) p ON s.ticker = p.ticker
INNER JOIN (
    SELECT ticker, round(toFloat64(argMax(close, window_start)), 2) AS day_close
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00'
      AND ticker IN (SELECT ticker FROM global_markets.stocks_splits WHERE execution_date = '2026-07-06')
    GROUP BY ticker
    HAVING day_close > 0
) d ON s.ticker = d.ticker
ORDER BY unadjusted_pct_chg DESC, ticker ASC

這 12 筆資料中的每一筆，都是股份合併在原始行情紀錄上印出三位數甚至更高的「漲幅」——從最頂端的 31450%（200 股合 1 股的合併，未調整收盤價從 $0.02 變為 $6.31），一路到比率最小的 226.1%（3 股合 1 股）。表格中段有一個最清晰的教學案例：一筆 10 股合 1 股的反向分割，將 TXXS 的未調整收盤價從週四的 $2.35 變為週一的 $24.34——這是十股舊股變成一股，而非十倍的上漲。以原始價格變動為基準的篩選器，會把整張表格排在每一檔真正的漲幅股之上；我們的篩選器則排除了股票分割。週四的 CRWD 正向分割則偽造了相反的假象，看似暴跌。

假期後首個完整交易日，已確認

查詢交易時段檢查：SPY 觀察到之分鐘K線跨度、7月3日休市日，以及日曆上下一個休市日
每個數據背後的精確 SQL 語法
SELECT
    formatDateTime(min(toTimeZone(window_start, 'America/New_York')), '%H:%i') AS first_spy_bar_et,
    formatDateTime(max(toTimeZone(window_start, 'America/New_York')), '%H:%i') AS last_spy_bar_et,
    count() AS spy_minute_bars,
    countIf(window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00') AS regular_session_bars,
    uniqExactIf(toDate(toTimeZone(window_start, 'America/New_York')), window_start >= '2026-07-06 13:30:00' AND window_start < '2026-07-06 20:00:00') AS day_sessions,
    (SELECT count() FROM global_markets.delayed_stocks_minute_aggs
     WHERE ticker = 'SPY' AND window_start >= '2026-07-03 00:00:00' AND window_start < '2026-07-04 00:00:00') AS jul3_spy_bars,
    (SELECT replaceAll(formatDateTime(min(date), '%M %e, %Y'), '  ', ' ') FROM global_markets.stocks_market_holidays WHERE date > '2026-07-06' AND status = 'closed') AS next_closure_date,
    (SELECT argMin(name, date) FROM global_markets.stocks_market_holidays WHERE date > '2026-07-06' AND status = 'closed') AS next_closure_name
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'SPY' AND window_start >= '2026-07-06 00:00:00' AND window_start < '2026-07-07 00:00:00'

7月6日是完整交易時段，並非提早收市：SPY 的 K 棒涵蓋紐約時間 04:00 至 19:59，精確包含 390 根常規交易時段 K 棒。前一週五（7月3日）印出 0 根 SPY K 棒——因7月4日獨立紀念日適逢週六，當天全面休市。下一個休市日：Labor Day，September 7, 2026。假期前那四個交易日的週表現，請見週報回顧。

常見問題

2026年7月6日股市表現如何？

四大指數ETF全數收高——QQQ 1.39%，SPY 0.87%，IWM 0.45%，DIA 0.42%——且有 62.4% 的流動性個股上漲，漲幅主要來自隔夜跳空缺口。

2026年7月6日哪個板塊領漲？

科技板塊（XLK）在十一大板塊ETF中領漲，漲幅達 1.71%，防禦性板塊最低僅 -1.08%——最佳與最差板塊的差距為 2.79 個百分點，是標普指數ETF本身 0.87% 漲幅的好幾倍。

2026年獨立紀念日股市有開盤嗎？

沒有。7月4日適逢週六，交易所於7月3日週五休市以紀念獨立紀念日——上述SPY僅成交 0 根分鐘K線即為休市證明。7月6日為假期後首個交易日。

為何部分個股在7月6日出現巨大的單日漲幅？

執行了 14 次反向股票分割。將多股舊股合併為一股，價格按比例調高，會讓未經調整的畫面顯示出數百%的「漲幅」，但持有者的部位價值並未改變——上述 12 檔個股均屬此類情況。

跳空開盤時買賣價差很大嗎？

僅限於個股。SPY在開盤前12分鐘的報價中位數價差為 0.27 個基點，與盤中水準相同；SanDisk的價差則比盤中高出 12.9 個基點。

數據說明

  • 成交金額為每分鐘代理指標 — 收盤價 × 成交量，按每分鐘K棒加總。
  • 板塊籃子為申報方法，非供應商欄位：十一檔主要標普板塊ETF（XLB、XLC、XLE、XLF、XLI、XLK、XLP、XLRE、XLU、XLV、XLY），每節相同組合。
  • 報價價差為有效雙邊報價中（賣價 − 買價）÷ 中間價的中位數；單邊、零值及交叉報價均剔除，並計入面板統計。
  • 一檔重複代碼掛牌在實體核實前，排除於排行榜之外（收據）。

方法說明

  • 期間為單一交易時段（1 時段，已由觀察K線驗證）。時間戳記以 UTC 儲存，並在查詢內轉換為紐約時間。「收盤」指常規交易時段最後一分鐘的K線；日別比較為 7 月 6 日對比 7 月 2 日——即跨越 7 月 3 日休市後的前一個交易時段，已由K線驗證，並非假設。
  • 小數在進行比率運算前，會先轉換為 64 位元浮點數。所有面板資料均在撰寫時，透過受控的唯讀路徑一次性讀取。

每個面板都是一個已儲存的查詢結果——圖表、表格與 SQL 為同一物件。將任一項貼入 Strasmore 終端機，即可轉為自用。前一交易時段：7 月 2 日。下一交易時段：7 月 7 日。

#recap#daily#spy#qqq#market structure