Market Update 6:00 PM ET — Bearish Breadth, 3853 Bull Setups Active | October 23, 2026

Market Conditions at 6:00 PM ET

Breadth is running thin into the close. Only 37% of the 10,280 stocks in our scan are flashing bull setups—3,853 against 1,896 bear setups—and the average SCTR of 4.8 confirms this is a narrow tape where most names are stuck below trend. SPY holds a Confirmed Bull trend with an SCTR of 7 and six bull counts, so the index structure is intact even as participation collapses underneath it. That divergence is the story: leadership is concentrated, and the top bull signals—CTNT, VYNE, FMFC, LMFA, IMMP—are small-cap momentum names, not broad-market engines. Meanwhile SJT, TZA, and KOD sit most extended, with TZA's presence flagging that a real slice of flow is still paying up for downside protection. For the next 60–90 minutes, expect chop with a downward bias. With 37% breadth and an average SCTR under 5, there is no fuel for a broad afternoon rally—rallies in this regime fade because too few stocks participate. Watch SPY's six bull counts as the line in the sand: hold them and price grinds sideways into the close; lose them and the 1,896 bear setups get the upper hand, pulling the index toward the day's lows. Extended names like SJT and KOD are where reversals will hit hardest. Scan the full bull and bear setup lists on the platform before the closing bell.