Journal ·
Tuesday, 12 May 2026
Regime Risk-onMarket regime
Risk-on — the model's authoritative close-of-day read. VIX 17.99 (calm, vol easing). Breadth 55.4% (542/979) of names above their 50-day EMA (healthy but marginal — a slim majority of names in primary uptrends). SPY closed 738.19 — +11.4% vs its 200-EMA (662.69).
Key numbers
| Metric | Level | Read |
|---|---|---|
| Regime | Risk-on | Close-of-day read |
| VIX | 17.99 | Calm — vol easing |
| Breadth >50-day EMA | 55.4% (542/979) | Healthy but marginal — a slim majority of names in primary uptrends |
| SPY close | 738.19 | +11.4% vs 200-EMA (662.69) |
Regime assessment
The model reads risk-on: the S&P 500 is above its 200-day average, breadth is healthy but marginal and volatility is contained.
Status
Close-of-day regime for 12 May 2026: risk-on.