Market Update 6:00 PM ET — Bearish Breadth, 317 Bull Setups Active | September 25, 2026

Market Conditions at 6:00 PM ET

Breadth closed at 22% bullish—317 bull setups against 426 bear setups across 1,422 stocks—with an average SCTR of 5.3. That is a deeply oversold tape, not a neutral one. SPY's SCTR reads 0 with zero bull setups, meaning the index itself offers no long-side structure to lean on. Leadership is narrow and speculative: BWET, ABTC, AMDG, AIRS, and BDSX are the only names generating bull signals, and none of them carry index weight. Meanwhile, BYND, AMDD, and AIXI sit at maximum extension, which tells you the crowd is chasing a handful of movers while the broad market bleeds. When average SCTR drops this far below 50, rallies are countertrend until breadth confirms otherwise. Over the next 60 to 90 minutes, expect chop with a downward bias. With only 22% of stocks in bullish setups, there is no internal fuel for a sustained push higher—any bounce should stall quickly as sellers use strength to exit. Watch whether bull setups expand above 350; if they don't, SPY likely tests the lower end of today's range into the close. A break in the bear setup count below 400 would be the first real sign of stabilization, but that isn't the tape in front of us right now. Scan the full bull and bear setup list on MarketSurge before the close.