Journal ·
Monday, 27 April 2026
Regime Risk-onMarket regime
Risk-on — the model's authoritative close-of-day read. VIX 18.02 (elevated, vol easing). Breadth 61.2% (597/975) of names above their 50-day EMA (healthy participation). SPY closed 715.16 — +8.3% vs its 200-EMA (660.06).
Key numbers
| Metric | Level | Read |
|---|---|---|
| Regime | Risk-on | Close-of-day read |
| VIX | 18.02 | Elevated — vol easing |
| Breadth >50-day EMA | 61.2% (597/975) | Healthy participation |
| SPY close | 715.16 | +8.3% vs 200-EMA (660.06) |
Regime assessment
The model reads risk-on: the S&P 500 is above its 200-day average, breadth is healthy and volatility is contained.
Status
Close-of-day regime for 27 April 2026: risk-on.