Trend’s Still On — Just Catching Its Breath 🏃‍♂️

Today's number is... 45.7%

45.7% of S&P 500 stocks are still in full uptrends — trading above both their 50-day and 200-day moving averages.

Here’s the chart:

Let's break down what the chart shows:

• The top panel shows the S&P 500 daily close as a black line.
• The lower panel displays three stacked zones representing trend structure across the index:
  • Green = % of stocks above both the 50-day and 200-day MAs.
  • Orange = % above the 200-day but below the 50-day.
  • Red = % below both.

The Takeaway: The market isn’t breaking — it’s just exhaling.

45.7% of S&P 500 stocks are still in full uptrends, trading above both their 50-day and 200-day moving averages. 

That’s a solid structural base — not a collapse.

And the red zone? 33.8% of stocks are below both trend lines — up slightly, but still below the green zone. No crossover. No signal shift.

Just rotation and digestion.

If this were a true regime shift, we’d see green fall off a cliff, red spike fast, and orange swell as trends cracked in slow motion. 

Instead, the green zone remains dominant. 

That’s how strong bull phases behave — with breathers, not breaks.

And right now, the structure says this trend is alive — just not charging. 

The engine’s still on. Momentum is resetting.

This is the difference between weakness and reset. 

And knowing that matters.

So what are you positioning for — the pullback or the push higher?

Let me know! 

Grant Hawkridge | Chief Aussie Operator, All Star Charts

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