| The S&P 500 is 1.7% below its high; the Momentum factor is 8.4% below its own and 51.3% of stocks trade above the 200-day average. |
| TrendToWealth · Weekly Market Update · Issue 007 |
Stock Market Near Its High. Will Leadership Change? |
This week’s setupThe S&P 500 remains close to its high, but participation has narrowed and the Momentum factor sits further below its own peak. |
| Market context | | Trend: Strong | Negative | Weak | Positive | Strong |
| Risk
Low & Falling | Position
Near Trend |
| | Data through 2026-09-18 |
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Major market returnsYTD returns · data through 2026-09-18 | Broad commodities DBC | | +47.3% YTD |
| | Emerging markets EEM | | +23.2% YTD |
| | U.S. small companies IJR | | +16.5% YTD |
| | | International developed EFA | | +11.0% YTD |
| | U.S. aggregate bonds AGG | | -1.3% YTD |
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| Chart of the Week | | Momentum Factor vs. Value Factor vs. S&P 500 — 2026 YTD | | Momentum | +24.2% | | | Value | +10.6% | | | S&P 500 | +12.6% | |
| | Data through 2026-09-18 | | View the full chart → |
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The stock market remains near its highS&P 500: 1.7% below its 52-week high The equity market is holding near its high. | • | Trend: Strong · Risk: Low & Falling · Position: Near Trend |
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Leadership could changeBreadth 51.3% · Momentum factor +24.2% YTD The gap could signal new leadership emerging, or fading participation. Too early to choose. | • | Breadth fell from 56.3% last week and 71.5% four weeks ago. |
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Continue reading: https://www.trendtowealth.com/market-updates/2026-09-18 |
Educational content only; not investment advice. Past performance does not guarantee future results. |
