On August 6, 2025, the S&P 500 showed modest gains with the SPY ETF closing up 0.75%, the Nasdaq 100 (QQQ) rising 1.26%, and the Dow Jones Industrial Average (DJI) increasing by 0.19%. However, the Russell 2000 (IWM), representing small-cap stocks, declined by 0.12%. Market breadth indicators reflected a mixed picture: while the S&P 500 index remained about 3% above its 50-day simple moving average (SMA), half of its constituents had already fallen below that level. Short-term breadth measures, including the number of stocks trading above their 5-, 20-, and 50-day SMAs, showed a decline. Advancers constituted 49.7% of stocks, down from 80.4% earlier, and momentum appeared to have cooled without a clear breakdown. The equal-weight S&P 500 index (RSP) was slightly negative despite the price-weighted S&P 500's gains, indicating weaker breadth beneath the surface. Overall, the market maintained a neutral breadth trend with some signs of deterioration in underlying participation despite the index's gains.