Top 10 Contributors
S&P 500: 7580.07 | 📉 Down (-1.97%)
Market Structure Score
49/100
Weak Structure
🔁 Regime shift: Broad Bull → Neutral
Institutional positioning became increasingly defensive as participation weakened and investors favored more resilient areas of the market. Internal confirmation remains limited, reducing confidence in the durability of the current market character.
Underlying market conditions have weakened sufficiently to raise questions about the durability of the current trend. The Market Structure Score of 49/100 reflects low confidence in this assessment.
⬥ 230 of 502 stocks advanced (▲45.8%)
⬥ 267 stocks declined (▼53.2%)
⬥ 5 stocks unchanged
⬥ Participation quality weakened.
⬥ Decliners outnumbered Advancers.
Leadership outpaced broader participation, highlighting a disconnect between capitalization-weighted performance and the average constituent.
Breadth continues to lag headline index performance. Participation has weakened across the broader market. Decliners continue to outnumber advancers. Should these conditions deteriorate further, confidence in the current market assessment would likely weaken.
The outlook remains cautious until participation broadens, leadership stabilizes, and internal confirmation begins to recover.
The weight of the internal evidence continues to support a defensive rotation 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
▶ 📉 Cap-weighted participation remained weak.
▶ ✅ Leadership was broadly distributed across the market.
▶ 🔄 Leadership rotation accelerated.
▶ ⚠️ Elevated dispersion reflects increasingly uneven market behavior.
▶ 💪 Individual stock moves carried above-average conviction.
▶ 📉 Participation deteriorated noticeably from the previous session.
▶ ✅ Participation exceeded capitalization leadership.
▶ 📉 Declining stocks showed greater magnitude than advancing stocks.
▶ ⚠️ A small group of larger losers weighed disproportionately on returns.
Top Contributors (>0.01%)
| Ticker | Return | Contribution | Share | Impact_Efficiency | Rank |
|---|---|---|---|---|---|
| LLY | 3.19% | 0.04% | 1.55% | 0.013687 | 1 |
| XOM | 2.16% | 0.02% | 0.75% | 0.009757 | 2 |
| WMT | 1.86% | 0.01% | 0.52% | 0.007925 | 3 |
| REGN | 13.33% | 0.01% | 0.46% | 0.000972 | 4 |
| COST | 1.63% | 0.01% | 0.38% | 0.006624 | 5 |
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).
