Three names again, in a firmer market. The market reading rose to 77, and software, cloud and semiconductors are the only groups rising on every timeframe from a day to six months. All five leading groups are still slowing and only twelve of thirty-nine are rising, so the cap stays at three. Monday's health-care surge is reversing this morning, and five of its six leaders are down 4–8%. One health-care name survives on the list, with a warning. The record: fifty-three tracked picks, 1.42% behind the index on average, with 24 of 53 beating it, up from 21 of 50 yesterday. All three of yesterday's names are ahead of the index after one session.
The broad market reading is 77, in the normal band, up from 75, with volatility at 15.4. Software, cloud and semiconductors are rising on every window from one day to six months, which is the definition of leadership this desk uses. All five strongest groups are still slowing and only 12 of 39 are rising, so the list is capped at three.
Two of the three names are security software leaders at or near their 52-week highs. The third is a health-care name kept to stop the list from being all one sector. It comes with a clear warning: health care ran 5–7% on Monday, and this morning most of that group is falling.
Data freshness: the screening data is from this morning. The usual news and analyst cross-check was unavailable this session, so the cards rely on price strength, the screens' own scores and a momentum reading, and each card says so.
Cloud (+9.36) has overtaken semiconductors (+8.87) and software (+8.86) at the top of the table. All three are up on the day, the week, the month and six months. Software is +6.6% on the week and +39% over six months, semiconductors +14.4% on the month. Shipping fell to fourth and is down 1.1% today. All five leaders are decelerating, cloud most steeply.
Biotech is down 1.2% today, and the health-care names that led Monday's Stage-2 list are reversing. Utilities, solar, aerospace and electric vehicles show the fastest improvement in momentum, but all from negative levels. That is a rotation to watch, not leadership. Energy sits ninth with negative relative strength.
The strongest technology name on the board. Relative strength 86.4, the highest of any technology stock in the universe, with stage 2 and 10/9 stage scores. It sits 0.6% off its 52-week high, inside the cloud and software groups that lead the table. The trend has been building since late August: the stock went from about $131 to $219 in six weeks and has made steady higher closes since mid-September. Caveats: RSI is 71, after a 67% run. It tagged $226 this morning and slipped back. No news or analyst cross-check was available today.
A large-cap software leader at a fresh high. Relative strength 51.6, stage 2, 9/9 stage scores. It closed 0.3% off its 52-week high on Monday and is up 2.8% today, through that level. It is the only finalist rising with its group this morning. Caveats: RSI is 70.7, and it overlaps OKTA's theme (both are security software), so the two are not independent bets. Earnings are on 11-04, four weeks out. No news or analyst cross-check today.
The diversifier, with the warning to read first. Relative strength 39.5 and rising 7.5 on the week, 9/10 stage scores, the highest signal composite of the finalists (53.8), and on all three screens. Read this before anything else: it gapped up to $333 at the open and is now trading around $307, below Monday's close. That is a wide reversal, inside a health-care group that is giving back Monday's surge across the board. It is on the list because the alternative was a single-sector cohort, and the record says that is the larger risk. Its RSI is a more moderate 63.9. No news check was available, so the reason for Monday's jump is unconfirmed.
Both income screens were rebuilt by this run: 806 cash-secured puts across 135 names and 139 bull put spreads (28 unique). No finalist appears in either. Today's top spreads are on MU, MSTR and SNDK, all 10 days out at 87–92% modelled probability. The put screen is dominated by MRVL, NVDA and QQQ. FTNT was scanned for a spread but had no qualifying expiry clear of its 11-04 earnings.
| Cohort | Mean alpha | Median | Beat SPY | Best | Worst |
|---|---|---|---|---|---|
| 2026-08-31 · 7 | +3.63% | +2.15% | 4/7 | CVI +32.9% | GEN −27.8% |
| 2026-09-01 · 7 | −1.13% | +3.11% | 4/7 | CRWD +19.4% | PRGS −20.7% |
| 2026-09-02 · 3 | −14.53% | −13.90% | 0/3 | VET −12.9% | HP −16.8% |
| 2026-09-03 · 3 | −7.94% | −6.18% | 0/3 | CRGY −3.4% | ZYME −14.2% |
| 2026-09-08 · 3 | −4.59% | −8.13% | 1/3 | ELPC +9.2% | MTDR −14.8% |
| 2026-09-11 · 3 | −3.37% | −6.19% | 1/3 | TEN +5.2% | UROY −9.1% |
| 2026-09-15 · 3 | −12.01% | −11.09% | 0/3 | CVE −9.1% | SM −15.8% |
| 2026-09-16 · 2 | −2.80% | −2.80% | 1/2 | MPC +1.9% | LPG −7.5% |
| 2026-09-17 · 3 | +10.08% | +6.43% | 3/3 | IOVA +21.3% | TRMD +2.5% |
| 2026-09-18 · 2 | −1.90% | −1.90% | 1/2 | ABCL +1.2% | CMBT −5.0% |
| 2026-09-21 · 3 | +13.35% | +11.87% | 3/3 | ALAB +21.5% | NBIS +6.7% |
| 2026-09-23 · 3 | −4.72% | −2.41% | 1/3 | MRNA +1.3% | OMER −13.0% |
| 2026-09-25 · 2 | −0.95% | −0.95% | 1/2 | SN +1.4% | LCUT −3.3% |
| 2026-09-28 · 3 | −3.66% | −4.28% | 0/3 | HUM −0.4% | RVMD −6.3% |
| 2026-09-30 · 1 | +1.30% | +1.30% | 1/1 | AMN +1.3% | — |
| 2026-10-02 · 2 | −2.35% | −2.35% | 0/2 | SMTC −2.0% | NAT −2.7% |
| 2026-10-05 · 3 | +1.29% | +0.25% | 3/3 | NTAP +3.6% | DAC +0.0% |
| All 53 | −1.42% | −2.41% | 24/53 | trimmed −1.66% · ex top two −2.55% · −75.4 pts | |
| 2026-10-06 · 3 | — | — | — | flagged today · first measurable reading next session | |
Against yesterday, 24 of 53 now beat the index (from 21 of 50), and the mean improved from −1.53% to −1.42%. The median moved from −2.57% to −2.41%, the trimmed mean from −1.86% to −1.66%, and cumulative drag narrowed from −76.6 to −75.4 points. Yesterday's three names all beat the index on their first session (NTAP +3.6%).
The tails are still large. CVI and ALAB contribute +54 points, and GEN and PRGS −48. Without the two best names the book is 2.55% behind. The book is still below its benchmark, but it has improved for two sessions running.