Market Update 3:45 PM ET — Bearish Breadth, 3854 Bull Setups Active | October 22, 2026

Market Conditions at 3:45 PM ET

Market breadth is running thin into the close, with just 37% of stocks in bullish posture—3,854 bull setups against 1,896 bear setups across 10,280 names. The average SCTR of 4.8 confirms the weakness: this is a market where the majority of individual stocks are broken even as the headline index holds. SPY itself shows a Confirmed Bull trend with an SCTR of 7 and a bull count of 6, meaning the index is being carried by a narrow set of leaders while the broad tape deteriorates underneath. The divergence between SPY's trend structure and the anemic breadth is the defining feature of this session. Top bull signals are concentrated in low-float names—CTNT, VYNE, FMFC, LMFA, IMMP—while the most extended list (SJT, TZA, KOD) leans defensive and inverse, a tell that positioning is hedging into the bell. With breadth this weak and the average SCTR in single digits, the path of least resistance over the next 60–90 minutes is lower for the broad market. Index-level support from SPY's bull count can slow the bleed, but 37% breadth rarely resolves higher into the close without a catalyst. Expect chop with a downward bias, failed intraday rallies, and continued rotation into the extended defensive names. Watch for breadth to deteriorate further in the final 30 minutes as weak hands exit. Scan the full bull and bear setup lists now at MarketPulse to position ahead of the close.