Journal ·
Monday, 11 May 2026
Regime Risk-onMarket regime
Risk-on — the model's authoritative close-of-day read. VIX 18.38 (elevated, vol firming). Breadth 58.8% (576/979) of names above their 50-day EMA (healthy but marginal — just under three in five names in primary uptrends). SPY closed 739.20 — +11.7% vs its 200-EMA (661.94).
Key numbers
| Metric | Level | Read |
|---|---|---|
| Regime | Risk-on | Close-of-day read |
| VIX | 18.38 | Elevated — vol firming |
| Breadth >50-day EMA | 58.8% (576/979) | Healthy but marginal — just under three in five names in primary uptrends |
| SPY close | 739.20 | +11.7% vs 200-EMA (661.94) |
Regime assessment
The model reads risk-on: the S&P 500 is above its 200-day average, breadth is healthy if marginal, and volatility, though elevated, is contained.
Status
Close-of-day regime for 11 May 2026: risk-on.