The recent Stock Trends editorials have established that the current market is not defined by a unified directional regime. Instead, it is characterized by internal dispersion, where leadership is fragmented across sectors, industries, and individual securities.
The latest dataset reinforces that conclusion. But more importantly, it reveals a structural shift beneath the surface: forward return probabilities are no longer tightly coupled to traditional trend classifications.

There is a lot to be gained from comparing trends of how individual stocks are doing within a sector, as well as how the sector is performing relative to the broad market.