One name today. The broad market reading rose to 81, its best in weeks, but the groups that have led this market are all slowing, and only eleven of thirty-nine are rising. Today's strong candidates came from just two places: technology and energy. The desk carries at most one name per sector on a short list, and the record says energy picks have lagged, so one technology name remains. The record: fifty-six tracked picks, 1.21% behind the index on average, with 26 of 56 beating it. That is up from 24 of 53 yesterday.
The broad market reading is 81, its strongest in weeks, with volatility at 15.7. But all five strongest groups are slowing, and only 11 of 39 are rising. Semiconductors, software and cloud are all lower this morning. Staples, utilities and food are the groups gaining momentum, all from negative levels.
Every candidate with real relative strength came from technology or energy. On a short list the desk carries at most one name per sector. The record says energy picks have lagged the index even when their relative strength was high. That leaves one technology name. No other sector produced a candidate strong enough to fill a second slot, and the desk does not pad the list.
Data freshness: the screening data is from this morning. The usual news and analyst cross-check was unavailable again this session, so the card relies on price strength, the screens' own scores and a momentum reading, and says so.
Shipping, cloud and software top the momentum table. Semiconductors still have the highest relative strength (+7.70) and are +55% over six months, but they are down 2.5% today, along with quantum (−2.3%) and software (−1.3%). All five leaders are decelerating, cloud most steeply. Energy is fifth on momentum with negative relative strength (−2.4) and is down 14 points on the month.
The improvers are defensive: staples, food, utilities and medical devices are gaining momentum, and staples is the only group with positive acceleration near the top of the table. The screener's rotation engine is targeting consumer cyclicals, basic materials and health care, but none of those groups produced a Stage-2 name with enough relative strength to clear the bar. That is a rotation to watch, not leadership.
A large-cap semiconductor leader near its high. Relative strength 71, stage 2B, 9/10 stage scores, and a buy rating on the signal screen. It sits about 2% off its 52-week high. The stock ran from about $456 in early September to a $650 close yesterday, a 42% move in five weeks, with higher closes through late September. Caveats: this is a late-stage trend (69 weeks since it entered Stage 2, not a fresh breakout). Its group is the weakest of the leaders today (semiconductors −2.5%), and AMD is down 1.7% on the session. RSI is 67.8, just under the flag line. No news or analyst cross-check was available today.
Both income screens were rebuilt by this run: 716 cash-secured puts across 166 names and 118 bull put spreads (40 unique). AMD appears on the put screen: the 10-09 $620 put, bid $2.79, about 2.9% below the price, with a modelled delta of −0.21 and implied volatility near 49%. Note the size: one contract secures about $62,000, so this is not a small-account structure. The screen's own entry rating is "hold". No bull put spread was available on AMD. Today's put screen is led by MU, NVDA, IBIT, TSLA and QQQ.
| Cohort | Mean alpha | Median | Beat SPY | Best | Worst |
|---|---|---|---|---|---|
| 2026-08-31 · 7 | +3.70% | +1.45% | 4/7 | CVI +36.4% | GEN −30.5% |
| 2026-09-01 · 7 | −2.70% | +1.12% | 4/7 | VLO +16.5% | PRGS −22.5% |
| 2026-09-02 · 3 | −13.82% | −13.99% | 0/3 | AR −11.8% | HP −15.6% |
| 2026-09-03 · 3 | −5.96% | −4.48% | 0/3 | PFE −3.3% | ZYME −10.1% |
| 2026-09-08 · 3 | −4.32% | −8.61% | 1/3 | ELPC +10.0% | MTDR −14.4% |
| 2026-09-11 · 3 | −2.23% | −3.82% | 1/3 | TEN +6.6% | UROY −9.4% |
| 2026-09-15 · 3 | −12.37% | −11.99% | 0/3 | CVE −9.6% | SM −15.6% |
| 2026-09-16 · 2 | −0.32% | −0.32% | 1/2 | MPC +4.5% | LPG −5.2% |
| 2026-09-17 · 3 | +9.44% | +5.33% | 3/3 | IOVA +19.2% | TRMD +3.8% |
| 2026-09-18 · 2 | −0.02% | −0.02% | 1/2 | ABCL +2.7% | CMBT −2.7% |
| 2026-09-21 · 3 | +9.57% | +9.56% | 3/3 | ALAB +14.7% | NBIS +4.5% |
| 2026-09-23 · 3 | −4.86% | −3.62% | 1/3 | MRNA +0.6% | OMER −11.6% |
| 2026-09-25 · 2 | +0.51% | +0.51% | 1/2 | SN +2.7% | LCUT −1.7% |
| 2026-09-28 · 3 | −2.18% | −3.53% | 1/3 | HUM +1.8% | DGII −4.8% |
| 2026-09-30 · 1 | +2.12% | +2.12% | 1/1 | AMN +2.1% | — |
| 2026-10-02 · 2 | −1.56% | −1.56% | 0/2 | NAT −0.2% | SMTC −3.0% |
| 2026-10-05 · 3 | +2.75% | +1.32% | 3/3 | NTAP +6.9% | IMOS +0.0% |
| 2026-10-06 · 3 | −0.62% | −0.35% | 1/3 | FTNT +0.5% | CRL −2.0% |
| All 56 | −1.21% | −1.03% | 26/56 | trimmed −1.35% · ex top two −2.28% · −67.5 pts | |
| 2026-10-07 · 1 | — | — | — | flagged today · first measurable reading next session | |
26 of 56 now beat the index (from 24 of 53). The mean improved from −1.42% to −1.21%, the median from −2.41% to −1.03%, and the trimmed mean from −1.66% to −1.35%. Cumulative drag narrowed from −75.4 to −67.5 points. Part of that is the benchmark: the index is down about 0.6% this morning, and several energy names are up. Yesterday's three names are mixed after one session (FTNT ahead, CRL 2.0% behind).
The tails are still large. CVI and IOVA contribute +55.5 points, and GEN and PRGS −53.0. Without the two best names the book is 2.28% behind. The book is still below its benchmark.