Weekly MOTR Report (WMR): “A Rally Before Lower Lows.”

September 28th, 2026
David Lundgren, CMT CFA

Highlights

  • Oversold conditions still support expectations for a tactical rally, but recent deterioration in breadth has pushed the medium-term Risk Gauge from “Risk On” back to “Mixed.”
  • Despite near-record S&P 500 levels, only 42% of the near 3,000 stock MOTR Universe remain above their 2021 highs, highlighting persistent structural fragility.
  • The divergence between the S&P 500 and. . .

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