Risk On/Off Indicator applied to SPY Weekly Price & Drawdown Analysis

Historical Price (Log Scale) & Dual-Line Drawdown Comparison (2005–2026)

The Risk On/Off indicator is derived from the daily Advancing and Declining stocks of the NYSE. This market breadth reading attempts to extract the internal market strength or weakness that may not be obvious in the price trend.

SPY Price and Drawdown Analysis Chart

This is for informational purposes only and not investment advice. Past performance is not an indicator of future performance.
Risk On/Off drawdown assumes moving to cash on the open the day following the Risk Off alert.