Journal ·
Thursday, 7 May 2026
Regime NeutralMarket regime
Neutral — the model's authoritative close-of-day read, and the first neutral print, a flip from risk-on. VIX 17.08 (calm, vol easing). Breadth 59.1% (577/977) of names above their 50-day EMA (mixed participation). SPY closed 731.53 — +10.1% vs its 200-EMA (664.22).
Key numbers
| Metric | Level | Read |
|---|---|---|
| Regime | Neutral | Close-of-day read |
| VIX | 17.08 | Calm — vol easing |
| Breadth >50-day EMA | 59.1% (577/977) | Mixed participation |
| SPY close | 731.53 | +10.1% vs 200-EMA (664.22) |
Regime assessment
The model reads neutral: the S&P 500 is above its 200-day average and volatility is contained, but breadth is only mixed.
Status
Close-of-day regime for 7 May 2026: neutral.