Market Anatomy, Monday, October 5, 2026

Published Oct 5, 2026, 4:34 PM ET

Today's move, what drove it, and what the available information cannot explain.

7,773.95 +0.66%1d

Capitalisation weighted, so a move in the largest companies moves it more than a move in the smallest.

the last 40 stored closes, scaled to their own range

27,477.31 +1.05%1d

Every Nasdaq listing, weighted by capitalisation and heavy in technology.

51,267.90 +0.18%1d

Thirty names weighted by price rather than by capitalisation, so it can disagree with the S&P for arithmetic reasons alone.

2,847.14 +0.50%1d

Small capitalisation names. Read against the S&P, it is the size half of how broad a day was.

211.12 +0.66%1d

The same five hundred companies weighted equally, so the largest names count no more than the smallest. Read against the cap-weighted index, the gap is how much of the day belonged to the biggest companies.

Cap weight against equal weight+0.00pp

The two moved together, so the session was not a story about the largest companies.

Market participation

38%

3 of 8 tracked indices above their 50-day average

Counted over ^GSPC, ^IXIC, ^DJI, ^RUT, ^FTSE, ^N225, ^GDAXI, 000001.SS. This is a reading across whole market indices, not a count of the companies inside any one of them.

Sentiment

Fear and Greed

44 +41.94%1d

CNN's own index, stored at the close. Context for whether sentiment confirms the tape or contradicts it.

15.52 +1.37%1d

Expected thirty day volatility from S&P 500 options. Rising with the index is the contradiction worth seeing.

Today's key movers

+2.85%

COIN 188.22

NO CLEAR CATALYST

The evidence read for this company over the 7 days before the session was its own SEC filings, its stored corporate actions, the headline feed collected for its ticker, the clustered news events this system collects every two hours across every category and the same events that name the company in their own text. Rows naming this company were read inside that window and none of them was resolved to this session's move.

The largest one-session move among the 59 companies this system prices daily

+2.76%

MSTR 164.43

CATALYST FOUND

Same day Bloomberg headline reporting Strategy's return to profitability on a large quarterly bitcoin-related gain.

Headline dated 2026-10-05: Strategy Returns to Profitability on $21 Billion 3Q Gain - Bloomberg.com

The second largest one-session move among the 59 companies this system prices daily

-2.63%

INTC 116.19

CATALYST FOUND

Same day report that SK Hynix is reportedly eyeing Intel's Ohio chip site, a competitive concern.

News event dated 2026-10-05, MarketWatch Top Stories: SK Hynix reportedly eyes Intel's Ohio chip site

The third largest one-session move among the 59 companies this system prices daily

Every mover above resolved to a stored filing, headline or news event today, so there are no open questions.

Key takeaways

1
Participation held at 3 of 8 tracked indices above their 50-day average even as the S&P 500 rose 0.66%, the same gap between headline fund and equal weight fund move of 0.00 points as before.
2
Nasdaq Composite rose 1.05% versus the Dow's 0.18%, a wider spread than recent sessions, pointing to narrower leadership concentrated away from the Dow's composition.
3
Sector returns ranged from Materials up 1.31% to Real Estate down 0.34%, a moderate dispersion that sits between broad-based and narrow single-sector moves.
4
Fear and Greed jumped 41.94% to 44 while the VIX rose 1.37%, showing the sentiment gauge moving opposite to the volatility reading this session.

Sector spread

+1.31%
+1.17%
+1.00%
+0.73%
+0.72%
+0.63%
+0.56%
+0.35%
+0.35%
+0.09%
-0.34%

One session, from the stored closes of the eleven sector ETFs. Each bar is scaled against the widest move of the day, so the shape is the spread and not an absolute size.