Divergence Watch
Market Breadth — The Leaders Are Tiring
15 of 26 divergences are active, 15 pointing down — risk score 54 of 100 (leadership exhaustion). Strongest: Small-cap. In the last month the S&P 500 rose 0.3%, the small caps fell 5.3%. Narration: AI voice.
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0:00 15 of 26 warning lights are on. 15 point down, 0 point up.
0:07 Divergence Watch: where the market’s surface and its foundation disagree.
0:13 Our scanner compares 26 pairs of markets that usually move together. Risk score this week: 54 of 100.
0:21 The reading: leadership exhaustion.
0:24 Strongest: Small-cap — 75 of 100, new today.
0:28 Next: Small-cap upside-beta failure (87) and Breadth-momentum (85).
0:35 In the last month the S&P 500 rose 0.3%, the small caps fell 5.3%.
0:43 The S&P 500 made its high on 6 October. The small caps are still 11.4% below their August high.
0:52 If it resolves up: Risk appetite broadens down the cap scale.
0:57 If it resolves down: Large caps follow small caps lower.
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Research diary, not investment advice. Figures as stated in the video, to the date shown.