Breadth pulse
—
...
-5%+5%
SPY vs 20‑DMA (daily)
Breadth shows how broadly price participates. Above the 20‑DMA leans risk‑favoring; below it argues for tighter risk.
A compact read on market tone (breadth, credit, curve) and a quick timing view for your trade setup.
Breadth shows how broadly price participates. Above the 20‑DMA leans risk‑favoring; below it argues for tighter risk.
Tightening spreads = credit appetite (risk‑on). Widening warns risk is being repriced.
When HYG outperforms IEF, risk assets tend to travel better; lagging credit often caps rallies.
The curve sets the macro wind. Deep inversion = headwind; weekly steepening is a small tailwind.
Look for closes above the fast EMA and the fast above the slow (stacked EMAs) for momentum entries. Pullbacks to EMA‑20 that hold are often swingable when credit confirms.