Journal ·
Friday, 24 April 2026
Regime Risk-onMarket regime
Risk-on — the model's authoritative close-of-day read. VIX 18.71 (elevated, vol easing). Breadth 62.6% (610/975) of names above their 50-day EMA (healthy participation). SPY closed 713.97 — +8.4% vs its 200-EMA (658.87).
Key numbers
| Metric | Level | Read |
|---|---|---|
| Regime | Risk-on | Close-of-day read |
| VIX | 18.71 | Elevated — vol easing |
| Breadth >50-day EMA | 62.6% (610/975) | Healthy participation |
| SPY close | 713.97 | +8.4% vs 200-EMA (658.87) |
Regime assessment
The model reads risk-on: SPY is above its 200-day average, breadth is healthy and volatility is elevated but easing.
Status
Close-of-day regime for 24 April 2026: risk-on.