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Does Williams %R Agree on MNQ and SPY? (5-minute Charts)
Educational reference. Measured from recorded market data through September 4, 2026. Not a forecast.
Williams %R measures where the close sits inside the recent range. This page asks a narrower question than the price comparison: when Williams %R moves on Micro E-mini Nasdaq-100, does it move the same way on SPDR S&P 500 ETF?
| Bars where Williams %R moved on both | 3,480 |
|---|---|
| … and moved the same direction | 2,712 (77.9%) |
| Price correlation, same period | +0.859 |
Why this is not the same as the price question
Two markets can move together while their momentum, trend strength or volatility do not. A reading that agrees far less than price suggests is exactly where one market is losing steam while the other keeps going — and a reading that agrees more is tracking something shared that direction alone does not capture.
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