SPY slipped 0.24% today and QQQ lost 0.25%, but the weakness was more pronounced elsewhere: the equal-weight S&P 500 fell 0.81%, midcaps dropped 1.64%, and small caps lost 1.29%.
The major index trends remain intact, yet many individual stocks are having a harder time. That’s why I’m reviewing Breakdown Ready tonight—to identify weak stocks pressing toward support and prepare a plan if that support gives way.
We don’t need to predict a market-wide selloff; we need to know which structures deserve attention and what would confirm the next move.
SPY and QQQ remain in confirmed advances. Our Market Desk posture is Participate selectively.
But underneath those index charts, participation is much weaker. As of the October 7 close, only 26.27% of the Market Desk breadth universe was above its 50-day average. Just 35.94% was above the 20-day.
That gives me a reason to work through the bearish side while continuing to look for individual leaders.
Tonight’s Breakdown Ready scan found 55 candidates across 10 sectors. The median TTI Score is 19, the highest is 47, and none scored 85 or higher.
