Market Update 7:45 PM ET — Bearish Breadth, 3853 Bull Setups Active | October 23, 2026

Market Conditions at 7:45 PM ET

Breadth is thin for a tape that still reads bullish on the index. Only 37% of the 10,280 stocks in the scan are flashing bull setups (3,853 versus 1,896 bear), and the average SCTR of 4.8 says the median name is nowhere near leadership. SPY tells the same story from the top down: a Confirmed Bull trend with just six bull counts and an SCTR of 7. This is a narrow, index-led market where the average stock is not participating. The speculative fringe is doing the work—CTNT, VYNE, FMFC, LMFA, and IMMP lead the bull signals—while SJT, TZA, and KOD stretch furthest from their bases. TZA on the extended list confirms the defensive bid underneath the surface. For the next 60–90 minutes, the breadth math argues for chop with a downward tilt rather than a clean continuation. With 63% of stocks leaning bearish and average SCTR under 5, there is no internal fuel to push SPY through resistance; six bull counts is a floor, not a launchpad. Expect price to fade toward the session's lower range and test support, with rallies sold into. Watch whether bull setups hold above 3,800—a break below that confirms the drift lower, while a reclaim of 40% breadth would neutralize the setup. Screen the full bull list at 7:45 PM ET and set alerts on the extended names before the next session opens.