Highlights
- Short‑term market structure is deteriorating, with banks showing especially severe downtrends.
- Credit spreads flashing warnings as CCC stays elevated and investment‑grade surges, echoing pre‑selloff patterns.
- Defensive groups are advancing in VST and MO rankings, suggesting risk aversion is broadening beyond short‑term noise.
- Conditions are weakening, but not fully ‘Risk Off’; oversold setups still offer opportunities to adjust exposure into strength.
"Losing Bull Structure, but not yet Bearish."
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