Market Update 2:45 PM ET — Bearish Breadth, 3849 Bull Setups Active | November 4, 2026

Market Conditions at 2:45 PM ET

Market breadth is running thin at 37% bullish—3,849 bull setups against 1,901 bear setups across 10,281 stocks—and the average SCTR of 4.8 confirms this is a narrow tape with little underlying participation. SPY holds a Confirmed Bull trend with six bull counts, but its SCTR of 7 tells you the index is being carried by a handful of names rather than broad conviction. The speculative bid is concentrated in low-float movers: CTNT, VYNE, FMFC, LMFA, and IMMP are flashing the only meaningful bull signals, while SJT, TZA, and KOD sit most extended and are primed for mean reversion. This is a stock-picker's tape, not an index tape. Into the close, breadth at 37% with a sub-5 average SCTR biases the next 60–90 minutes toward chop and fade risk rather than trend continuation. Watch for SPY to hold its bull structure on the surface while internals deteriorate—that divergence typically resolves with a late-afternoon drift lower or a narrow, mega-cap-led grind that leaves most names red. If breadth doesn't reclaim 45% by 3:30 PM ET, treat rallies as exits, not entries, and respect the extension in TZA and SJT as a signal that defensive positioning is already crowded. Scan the full bull signal list and extended names now at MarketBeats.