Market Update 5:30 PM ET — Bearish Breadth, 3853 Bull Setups Active | October 23, 2026

Market Conditions at 5:30 PM ET

Breadth is running thin into the close. Only 37% of the 10,280 stocks in our scan are printing bullish setups—3,853 bull versus 1,896 bear—and the average SCTR of 4.8 tells you most names are sitting near the bottom of their relative-strength range. SPY holds a Confirmed Bull trend with six bull counts, but its SCTR of 7 shows the index is being carried by a narrow group rather than broad participation. That divergence matters: the top bull signals are all small caps—CTNT, VYNE, FMFC, LMFA, IMMP—while SJT, TZA, and KOD sit most extended, a tell that defensive and inverse exposure is stretched. For the next 60–90 minutes, expect chop with a downward bias. With average SCTR under 5 and breadth at 37%, there is no fuel for a broad push higher; rallies into the close will be sold unless the bull count on SPY expands beyond six. Watch for failed breakouts in the small-cap leaders and rotation into the extended names as a warning sign. A breadth reading this weak into the final hour typically resolves with indices fading from any intraday high and closing near the lower half of the day's range. Scan the full bull and bear setup lists on the platform before the bell and position accordingly.