Market Update 1:45 PM ET — Bearish Breadth, 3853 Bull Setups Active | October 23, 2026

Market Conditions at 1:45 PM ET

Market breadth sits at 37% bullish at 1:45 PM ET, with 3,853 bull setups against 1,896 bear setups across 10,280 stocks. The average SCTR of 4.8 is deeply weak, signaling that momentum is concentrated in a thin slice of the tape rather than broad participation. SPY tells the same story: a Confirmed Bull trend with a bull count of 6, but an SCTR of just 7, meaning the index is holding up on structure while underlying momentum erodes. Top bull signals are firing in CTNT, VYNE, FMFC, LMFA, and IMMP—small, speculative names that typically lead when breadth is narrow. The most extended names—SJT, TZA, KOD—flag where chase risk is highest. With breadth this lopsided and the average SCTR below 5, the path of least resistance over the next 60–90 minutes is lower for the broad tape. Narrow leadership in low-float names rarely sustains index-level strength into the close, and a 37% bullish reading leaves little cushion for dip buyers. Expect SPY to test intraday support and struggle to reclaim highs unless breadth expands meaningfully; rallies driven by the same handful of extended names are selling opportunities, not entries. Watch the breadth line—if bullish setups don't push toward 45% by 3:00 PM ET, position for a weak close.