INDIGO MARKET CONTEXT

REGIME

SECTION READ  HEALTHY UPTREND

SPY ABOVE 200-DAY SPY 776.34 vs its 200-day average 705.46 (+10.05%). Above = the long-term trend is up; below = down.

SPY ABOVE 50-DAY 200-DAY RISING A healthy uptrend needs price above the 50-day AND a rising 200-day — above a flat/falling long-term average is an uptrend under pressure.

+4.45% / 20d SPY has moved +4.45% over the last 20 sessions. Beyond ±1% starts to read as directional; inside it is sideways.

VOLATILITY

SECTION READ  CALM / NORMALIZING

VIX 14.2 · CALM The market’s expected 30-day volatility. Under 18 = calm; 18–25 = nervous; over 25 = fear. 10-session change -2.25.

5d RV 6.4% 20d RV 13.3% 5d BELOW 20d How much SPY is actually moving (20d: under 15% calm, 15–25% elevated, 25%+ stressed). When the 5-day reading jumps above the 20-day, turbulence is arriving faster than the recent norm — an early stress signal; when it sits below, conditions are calming.

SCAN-UNIVERSE INTERNALS — 99 tickers

SECTION READ  BROAD PARTICIPATION

Share of scanned stocks above their moving averages (over 60% = healthy, under 40% = weak):

72.7% > 20d 71.7% > 50d 72.7% > 200d 63.6% 20d>50d

median 20d ROC +4.73% The middle stock’s one-month move: the typical stock is RISING — broad tailwind.

52w highs 3 / lows 0 20d highs 18 / lows 2 More fresh highs than lows = expansion; the reverse = distribution under the surface.

MARKET-WIDE (11 SECTOR ETFs — independent of your symbol list)

10/11 above 50d 9/11 above 200d sectors up today 7/11 at 20d highs 2 / lows 0 Sector-level participation — a true market read even when scanning a short list.

McClellan-style osc +1.9 EMA19−EMA39 of daily net advances across the 99-ticker universe: above +20 = broad thrust; below −20 = broad selling; the zero line is the pivot.

BREADTH & PARTICIPATION

SECTION READ  PARTICIPATION EXPANDING

A/D today -21 Cumulative advance–decline across the scanned universe (60 sessions): rising with price = broad rally; falling while price holds = thinning support.

net 20d highs +15 New 20-day highs minus lows: expansion above zero is a healthy tape; persistent negatives warn of distribution.

up/down volume 0.58× at 20d highs 16 / lows 1 median -11.2% off 52w high Volume flowing into advancers vs decliners today, and how stretched the typical stock sits below its yearly high.

median stock vs SPY +0.28% / 20d Positive = the typical stock beats the index (broad strength); negative = index strength masks a weaker average stock.

RSP/SPY +4.3% / 60d Equal-weight vs cap-weight S&P: rising = the average stock keeps up with the giants (healthy); falling = a handful of mega-caps carry the index (narrow).

SECTOR ROTATION

SECTION READ  NO CLEAR LEADERSHIP

Each dot is a sector ETF measured against SPY. Right of center = outperforming; above center = strength still building. The dim tail behind each dot is its last ~8 weeks of movement — watch a Leading sector’s tail flatten or hook down for the earliest warning. Sectors rotate clockwise: Improving → Leading → Weakening → Lagging. When defensive sectors (utilities, staples, health care) lead, the market is playing defense; when tech, discretionary, or financials lead, risk appetite is on.

Show trails  hover a dot or table row to isolate a sector