Mark Newton CMT(@MarkNewtonCMT):The BIG MIRAGE- An unusual day given high yield spreads, MOVE index dropping, recent stabilization in Small-caps & positive market breadth (Percentage R3k above 20-day has nearly tripled in three wks.) Equal-weighted S&P 500 ETF shown below.. now up more than 4% in the last 30 days. Understandably, not many care about the broader mkt and its all AI and TECH, but the POSITIVE divergence in $SPX, DJIA, RSP holding up today, Transports up +1.5%+ while QQQ broke makes for an interesting setup as Crude has shown 3 straight days of closing WELL off earlier peaks.

2026.10.23 00:00

The BIG MIRAGE- An unusual day given high yield spreads, MOVE index dropping, recent stabilization in Small-caps & positive market breadth (Percentage R3k above 20-day has nearly tripled in three wks.) Equal-weighted S&P 500 ETF shown below.. now up more than 4% in the last 30 days. Understandably, not many care about the broader mkt and its all AI and TECH, but the POSITIVE divergence in $SPX, DJIA, RSP holding up today, Transports up +1.5%+ while QQQ broke makes for an interesting setup as Crude has shown 3 straight days of closing WELL off earlier peaks.