{
    "tool": "market_overview",
    "as_of": "2026-09-25",
    "stale": false,
    "indexes": [
        {
            "symbol": "SPY",
            "name": "S&P 500",
            "pct_vs_50dma": 1.51,
            "pct_vs_200dma": 7.91,
            "above_50dma": true,
            "above_200dma": true,
            "ma50_rising_1m": true,
            "ret_1m_pct": 0.94,
            "ret_3m_pct": 6.07,
            "pct_from_52w_high": -0.59,
            "weekly_stage": "S2"
        },
        {
            "symbol": "QQQ",
            "name": "Nasdaq 100",
            "pct_vs_50dma": 4.57,
            "pct_vs_200dma": 12.1,
            "above_50dma": true,
            "above_200dma": true,
            "ma50_rising_1m": true,
            "ret_1m_pct": 4.77,
            "ret_3m_pct": 5.49,
            "pct_from_52w_high": -0.4,
            "weekly_stage": "S2"
        },
        {
            "symbol": "IWM",
            "name": "Russell 2000",
            "pct_vs_50dma": -3.89,
            "pct_vs_200dma": 2.75,
            "above_50dma": false,
            "above_200dma": true,
            "ma50_rising_1m": false,
            "ret_1m_pct": -5.43,
            "ret_3m_pct": -5.71,
            "pct_from_52w_high": -7.34,
            "weekly_stage": "S2"
        },
        "… 1 more"
    ],
    "breadth": {
        "sector_etfs_above_50dma_pct": 36.4,
        "sector_etfs_above_200dma_pct": 36.4,
        "equal_weight_participating": false,
        "defensive_sector_in_top3": true,
        "method": "Proxy from the 11 SPDR sector ETFs and RSP/SPY; not a count of individual stocks."
    },
    "sector_ranking_3m": [
        {
            "rank": 1,
            "etf": "XLE",
            "sector": "Energy",
            "ret_3m_pct": 15.92,
            "weekly_stage": "S2"
        },
        {
            "rank": 2,
            "etf": "XLK",
            "sector": "Technology",
            "ret_3m_pct": 8.5,
            "weekly_stage": "S2"
        },
        {
            "rank": 3,
            "etf": "XLV",
            "sector": "Healthcare",
            "ret_3m_pct": 6.87,
            "weekly_stage": "S2"
        },
        "… 8 more"
    ],
    "summary": "As of 2026-09-25: SPY is 7.91% above its 200-day average (weekly S2); QQQ is 12.1% above its 200-day average (weekly S2); 36% of sector ETFs are above their 50-day average; the equal-weight S&P 500 is lagging the cap-wei…",
    "disclaimer": "…not investment advice…"
}