Top 10 Contributors
S&P 500: 7709.96 | 📉 Down (-0.18%)
Market Structure Score
56/100
Fragile Structure
🔁 Regime shift: Neutral → Weak / Risk-Off
Market internals strengthened as participation broadened beyond the largest capitalization stocks, reinforcing the durability of the prevailing advance. Internal confirmation remains limited, reducing confidence in the durability of the current market character.
The internal backdrop remains balanced, with improving conditions offset by pockets of continued weakness. The Market Structure Score of 56/100 reflects low confidence in this assessment.
⬥ 201 of 502 stocks advanced (▲40.0%)
⬥ 297 stocks declined (▼59.2%)
⬥ 4 stocks unchanged
⬥ Participation quality weakened.
⬥ Decliners outnumbered Advancers.
Leadership remained reasonably balanced, with no single sector or leadership cohort exerting an outsized influence on overall market direction.
Participation has weakened across the broader market. Trading conviction remains below recent norms. Decliners continue to outnumber advancers. Should these conditions deteriorate further, confidence in the current market assessment would likely weaken.
Meaningful improvement in participation and internal confirmation will be needed before confidence can recover. Failure to improve would leave the market vulnerable to additional weakness.
The weight of the internal evidence continues to support a broad institutional accumulation market environment with low confidence. While short-term price fluctuations are inevitable, sustained improvement in participation and leadership would reinforce the current assessment, whereas renewed deterioration in market internals would warrant a more defensive interpretation.
Market Signals
▶ ⚠️ Participation remained below average.
▶ ✅ Leadership was broadly distributed across the market.
▶ 🔄 Leadership rotation accelerated.
Top Contributors (>0.01%)
| Ticker | Return | Contribution | Share | Impact_Efficiency | Rank |
|---|---|---|---|---|---|
| MSFT | 2.54% | 0.12% | 10.44% | 0.048795 | 1 |
| AAPL | 0.45% | 0.03% | 2.67% | 0.070144 | 2 |
| LLY | 1.89% | 0.03% | 2.17% | 0.013687 | 3 |
| XOM | 2.12% | 0.02% | 1.74% | 0.009757 | 4 |
| AMD | 1.50% | 0.02% | 1.65% | 0.013094 | 5 |
| AVGO | 0.55% | 0.02% | 1.40% | 0.030490 | 6 |
| BRK-B | 1.11% | 0.01% | 1.26% | 0.013472 | 7 |
| PH | 7.31% | 0.01% | 1.04% | 0.001689 | 8 |
Definitions:
Contribution – The weighted impact of a stock’s return on the overall index move
(weight × return). This reflects how much each stock actually moved the index.
Share – The proportion of total index movement attributable to a given stock.
Higher values indicate outsized influence relative to peers.
Impact Efficiency – The ratio of contribution to return, highlighting how effectively
a stock’s price move translates into index impact (primarily driven by index weight).
