Today's terrain.
Benchmarks through Oct 23, 2026 session · data may be delayed

DEFENSIVE
- SPY is above its 200D average but not all three.
- 0 of 3 tracked indices are above their 50-day average (aligned).
- Average 20-day change across indices is -3.0% (falling medium-term momentum).
SPY
-0.52%
below 50D
QQQ
-0.01%
below 50D
IWM
-0.33%
below 50D
Indices
The market read
Broad-market conditions are defensive and currently weak on trend structure. SPY and QQQ remain above their 200-day averages, but none of the three tracked indices are above their 50-day averages, and the average 20-day change across indices is -3.0%, which points to fading medium-term momentum. The near-term tone is less severe, with average 5-day change at +0.3% and realized 20-day volatility at 14% annualized, which is normal.
- 0 of 3 indices above their 50-day average keeps the intermediate trend pressured.
- Average 20-day change of -3.0% suggests momentum remains falling even with the short-term bounce.
- SPY and QQQ above the 200-day average while IWM remains below it shows large-cap resilience versus small-cap weakness.
AI interpretation of the index measurements · not advice
Strongest terrain
in the tracked universe.
PEG tracked universe · 24 liquid US symbols ranked by PEG Score. PEG does not scan every listed stock.
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