Stats for 2026-11-13 (2nd week of the Month)

The Market Is Entering a Deeper Defensive Phase: Is a Larger Correction Taking Shape?

Weekly Market Trend & Sector Analysis | November 13, 2026

Market Regime: Late-Cycle Defensive Transition | Risk Level: Medium-High | Outlook: Next 1–3 Weeks

The stock market is sending investors an increasingly important message. Although the latest readings show a modest improvement in the S&P 500's momentum compared with last week, the broader market structure remains fragile. Healthcare, consumer staples, and dividend-oriented investments continue to attract strength, while several influential technology companies remain under pressure.

More importantly, the deterioration in median market capitalization and the continued weakness among major technology leaders suggest that investors are becoming increasingly selective. This is no longer simply a story about a temporary pullback in technology stocks. It is becoming a broader question about the durability of market leadership and the economy's ability to sustain its current growth trajectory.

1. Market Trend Analysis

Broad Market Momentum: A Small Recovery, But No Confirmed Reversal

The S&P 500 oscillator has improved slightly from -4 to -3. However, this remains negative territory and does not yet establish a meaningful recovery.

Looking across the four weekly observations, the index moved from mildly negative momentum in late October to considerably weaker readings in November. The latest improvement is encouraging, but it needs confirmation from subsequent weekly readings.

The broader market ETFs reinforce this cautious interpretation. The S&P 500 (SPY) and total stock market (VTI) remain negative, while small-cap exposure (IWM) also continues to show weakness.

Market Capitalization: An Important Risk Signal

One of the most concerning developments is the sharp decline in median market capitalization. After reaching its highest reading in the October 30 observation, the median has fallen substantially over the following two weeks.

This suggests that the composition of the screened stock universe is shifting toward smaller companies. Such a development can indicate reduced risk appetite and weaker participation among larger businesses.

The exchange distribution also changed significantly in November. Nasdaq's share of listed stocks increased from approximately 49% in late October to nearly 57%, while NYSE/Amex representation declined.

These figures describe the distribution of stocks in the screening universe, not actual institutional trading volume. Nevertheless, the combination of a declining median market cap and a changing exchange mix deserves attention.

Sector Rotation: Healthcare Is Becoming the Clear Leader

The strongest message from this week's ETF analysis is the continued dominance of defensive sectors.

• Healthcare: XLV, XHS and VHT lead the momentum rankings. Healthcare services and broader healthcare exposure are particularly strong.
• Consumer Staples: VDC and XLP maintain positive momentum, indicating continued interest in businesses providing essential products and services.
• Dividend and Quality: SCHD, SDOG and COWZ demonstrate that investors are finding opportunities in quality-oriented and cash-generative businesses.
• Software: XSW has positive oscillator momentum, but its sector ranking remains relatively weak. This is an early signal worth monitoring rather than confirmation of a technology recovery.
• Financials: Despite strong fundamental quality among individual financial companies, broad financial ETFs remain relatively weak.
• Consumer Discretionary: XLY remains negative, suggesting that cyclical consumer demand is not yet providing broad confirmation of economic strength.

An especially interesting development is the difference between fundamental quality and price momentum. The current GPA screen continues to identify high-quality businesses across financial services, healthcare, software and selected consumer industries.

Companies such as Mastercard, Visa and Eli Lilly demonstrate that strong fundamental businesses remain present. However, a high GPA does not automatically translate into positive short-term price momentum. The available weekly data does not establish a rising aggregate GPA trend, so this should be interpreted as a current quality signal rather than improving market-wide fundamentals.

Mega-Cap Leadership: Still the Market's Biggest Vulnerability

The performance of the largest technology companies remains a critical warning signal.

Apple and Microsoft continue to maintain positive oscillator readings, but several other influential companies remain negative. NVIDIA and Alphabet are particularly weak, while Meta and Tesla have improved slightly but have not recovered into positive territory.

Amazon is currently near neutral. Overall, the majority of the major technology leaders are still not participating in a convincing market recovery.

This matters because mega-cap companies carry substantial influence over major market indexes. When these companies weaken simultaneously, the broader market becomes more dependent on a smaller number of outperformers.

My interpretation: The market is experiencing a defensive and rotational transition rather than a broad-based bullish expansion. The recovery in Apple and the modest improvement in some other leaders are encouraging, but they are insufficient to confirm that institutional leadership has returned.

Market Regime and Risk Assessment

Market Phase: Late Trend / Defensive Transition
Market Sentiment: Cautious to Defensive
Risk Level: Medium-High
Breadth: Weak and increasingly selective
Preferred Style: Quality, Dividend, Defensive and Large-Cap Resilience

2. Economic Outlook

The current market structure is consistent with a late-cycle economic environment in which investors are becoming increasingly concerned about the durability of economic growth and corporate earnings. The preference for healthcare, consumer staples and dividend-oriented businesses suggests that market participants are placing greater importance on predictable demand and reliable cash flows rather than aggressive expansion. The continued weakness in several mega-cap technology companies raises questions about the sustainability of previous growth leadership. Meanwhile, the absence of broad commodity leadership and continued weakness in bond-related ETFs do not provide a clear confirmation of either a renewed inflation shock or an imminent recession. The more reasonable interpretation is that economic confidence is becoming selective, risk appetite is weakening, and investors are demanding stronger evidence of earnings resilience before committing capital to higher-risk investments. These are market-derived signals, not independent confirmation of GDP contraction or recession.

3. Investment Ideas to Research

My preferred approach in the current environment is defensive but not completely risk-averse. Healthcare and consumer staples deserve priority because they currently demonstrate the strongest combination of positive momentum and late-cycle characteristics. Dividend-oriented investments such as SCHD and NOBL can provide additional quality exposure, while SPLV offers a lower-volatility approach during periods of weakening market participation. I would remain cautious about aggressively increasing exposure to semiconductors, speculative technology and smaller companies until their momentum improves. Financials also require selectivity: strong individual businesses should not be confused with a strong sector-wide trend. The preference should be for quality and cash flow over speculative growth, with large-cap resilience favored over economically sensitive small-cap exposure. Capital should be allocated gradually rather than committed aggressively while the broad-market oscillator remains negative.

4. ETF Opportunities

The following ETFs deserve attention based on the latest momentum and sector rankings:

• XLV – Healthcare Select: Leading defensive sector with strong positive momentum.
• XHS – Healthcare Services: Exceptional oscillator strength, although historical drawdowns are substantial.
• VHT – Vanguard Healthcare: Broad healthcare exposure supported by positive momentum.
• SCHD – Schwab U.S. Dividend Equity: Quality and dividend-oriented exposure.
• VDC – Vanguard Consumer Staples: Positive momentum in essential-consumption businesses.
• XLP – Consumer Staples Select: Defensive exposure with positive oscillator readings.
• SPLV – S&P 500 Low Volatility: Portfolio-stability candidate during weakening market conditions.
• COWZ – Pacer US Cash Cows 100: Exposure to companies with strong cash-generation characteristics.
• SDOG – ALPS Sector Dividend Dogs: Value and dividend-oriented exposure.
• XSW – Software & Services: An early technology recovery candidate to monitor.

5. Top 7 ETFs to Research

Based on the current market environment, these are my seven preferred ETF candidates. The ranking considers momentum, sector positioning and suitability for a defensive late-cycle strategy.

1. XLV – Health Care Select Sector SPDR Fund: My preferred defensive allocation, supported by strong momentum and the leading sector ranking.
2. XHS – SPDR S&P Health Care Services ETF: One of the strongest oscillator readings in the entire ETF universe, offering exceptional relative strength.
3. VHT – Vanguard Health Care ETF: Broad healthcare exposure with strong positive momentum and a favorable defensive profile.
4. SCHD – Schwab U.S. Dividend Equity ETF: Combines dividend-oriented exposure with quality characteristics and positive momentum.
5. VDC – Vanguard Consumer Staples ETF: Essential-consumption businesses are demonstrating continued relative strength.
6. XLP – Consumer Staples Select Sector SPDR Fund: Another way to capture the defensive consumer-staples trend.
7. SPLV – Invesco S&P 500 Low Volatility ETF: A potential portfolio stabilizer while broad-market momentum remains negative.

Portfolio consideration: XLV and VHT have substantial exposure overlap, as do VDC and XLP. These are seven research candidates, not a recommendation to purchase all seven simultaneously. Position sizing and diversification remain important.

What Could Happen Over the Next 1–3 Weeks?

My base-case forecast is continued market consolidation, with an elevated possibility of another pullback before a sustainable recovery develops.

The slight improvement in the S&P 500 oscillator is encouraging, but it is not enough to change the overall assessment. The declining median market capitalization, negative broad-market momentum and fractured mega-cap leadership suggest that investors should remain cautious.

There are two important developments to watch:

• Bullish scenario: The S&P 500 oscillator turns positive, mega-cap technology participation improves, and strength expands beyond healthcare and consumer staples. This would suggest that the current correction is stabilizing and a broader advance could develop.
• Bearish scenario: The index oscillator weakens again, NVIDIA and other mega-cap leaders remain under pressure, and defensive leadership continues to dominate. This would increase the probability of a deeper market correction.

Final Verdict: The market is transitioning toward a defensive late-cycle regime. This is a time to emphasize capital preservation, quality businesses and selective opportunities rather than chase broad-market rallies. The next few weekly readings will be important in determining whether the market is establishing a base or preparing for another leg lower.

Key Indicators to Monitor Next Week

There are three things I would particularly monitor in next week's data:

• NVIDIA: Its oscillator deterioration is more concerning than the modest improvement in some other mega-cap stocks.
• Median market capitalization: A stabilization or recovery would be an important early indication that risk appetite is returning.
• Healthcare versus technology: If healthcare remains strong but technology begins recovering, that could signal a healthier market transition rather than an approaching broad correction.

Important Qualification

The analysis is based on market internals and stock-selection information, they do not include GDP, inflation, employment, credit spreads or direct liquidity measurements. Therefore, the economic outlook above is an interpretation of market behavior, not a definitive macroeconomic diagnosis.

Overall Assessment: Late-cycle defensive transition, late trend, medium-high risk. I would wait for broader participation before becoming aggressively bullish.

This analysis reflects market screening data and technical indicators as of November 13, 2026. It is a conditional market assessment, not a certainty or a substitute for individual investment research.

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Stats for 2026-11-13 (2nd week of the Month)

List creation date: 2026-11-13

Median MarketCap: 8736

56.7% stocks on Nasdaq; 41.7% stocks on NYSE/Amex

Sector
Financials	30%
Health Care	17%
Information Technology	15%
Consumer Discretionary	13%
Industrials	10%
Communication Services	7%
Materials	3%
Energy	2%
Consumer Staples	2%
Real Estate	2%

Industry
Software	15%
Biotechnology	12%
Financial Services	8%
Capital Markets	7%
Insurance	7%
Banks	7%
Professional Services	5%
Pharmaceuticals	3%
Household Durables	3%
Interactive Media & S	3%
Health Care REITs	2%
Media	2%
Entertainment	2%
Consumer Finance	2%
Leisure Products	2%
Textiles, Apparel & L	2%
Hotels, Restaurants &	2%
Distributors	2%
Broadline Retail	2%
Specialty Retail	2%
Personal Care Product	2%
Health Care Providers	2%
Air Freight & Logisti	2%
Oil, Gas & Consumable	2%
Chemicals	2%
Metals & Mining	2%
Construction & Engine	2%
Trading Companies & D	2%

Country
United States	90%
Canada	3%
India	2%
Israel	2%
Switzerland	2%
United Kingdom	2%

GPA	Sym	(0gpaamp5) Industry	Sector	MktCap	Country	Name
3.92	MA	Financial Services	Financials	568530	US	Mastercard
3.92	CPAY	Financial Services	Financials	29113	US	Corpay,
3.92	CRBG	Financial Services	Financials	15772	US	Corebridge Financial,
3.80	V	Financial Services	Financials	792832	US	Visa
3.80	FLYW	Financial Services	Financials	2631	US	Flywire
3.88	IBN	Banks	Financials	121700	India	ICICI Bank Limited
3.84	DCOM	Banks	Financials	1846	US	Dime Commercial Bancshares, In
3.80	CATY	Banks	Financials	4301	US	Cathay General Bancorp
3.80	TOWN	Banks	Financials	3342	US	TowneBank
3.96	AAMI	Capital Markets	Financials	3356	US	Acadian Asset Management
3.92	CBOE	Capital Markets	Financials	38486	US	Cboe Global Markets,
3.88	ICE	Capital Markets	Financials	99399	US	Intercontinental Exchange,
3.84	NDAQ	Capital Markets	Financials	60297	US	Nasdaq,
3.92	MET	Insurance	Financials	64019	US	MetLife,
3.88	AJG	Insurance	Financials	71108	US	Arthur J. Gallagher &
3.84	RGA	Insurance	Financials	17807	US	Reinsurance Group of America,
3.80	SKWD	Insurance	Financials	2783	US	Skyward Specialty Insurance Gr
3.80	OPRT	Consumer Finance	Financials	542	US	Oportun Financial
3.96	ONC	Biotechnology	Health Care	47514	Switzerland	BeOne Medicines AG
3.96	CDNA	Biotechnology	Health Care	4191	US	CareDx,
3.96	VCEL	Biotechnology	Health Care	2930	US	Vericel
3.92	EXEL	Biotechnology	Health Care	17042	US	Exelixis,
3.92	KNSA	Biotechnology	Health Care	7569	United Kingdom	Kiniksa Pharmaceuticals Intern
3.88	ALEC	Biotechnology	Health Care	365	US	Alector,
3.84	REGN	Biotechnology	Health Care	95450	US	Regeneron Pharmaceuticals,
3.96	LLY	Pharmaceuticals	Health Care	1271351	US	Eli Lilly and Company
3.96	ETON	Pharmaceuticals	Health Care	1772	US	Eton Pharmaceuticals,
3.88	PACS	Health Care Providers	Health Care	7619	US	PACS Group,
3.96	ZETA	Software	Information Technology	9521	US	Zeta Global Holdings.
3.92	U	Software	Information Technology	22271	US	Unity Software
3.92	DSGX	Software	Information Technology	8175	Canada	The Descartes Systems Group In
3.88	GEN	Software	Information Technology	17620	US	Gen Digital
3.88	APPF	Software	Information Technology	7900	US	AppFolio,
3.88	QTWO	Software	Information Technology	4507	US	Q2 Holdings,
3.80	ADSK	Software	Information Technology	54233	US	Autodesk,
3.80	FROG	Software	Information Technology	13793	US	JFrog Ltd.
3.80	AVPT	Software	Information Technology	3441	US	AvePoint,
3.92	SN	Household Durables	Consumer Discretionary	31020	US	SharkNinja,
3.80	CRCT	Household Durables	Consumer Discretionary	1771	US	Cricut,
3.96	HAS	Leisure Products	Consumer Discretionary	16991	US	Hasbro,
3.96	FIGS	Textiles, Apparel & L	Consumer Discretionary	3760	US	FIGS,
3.96	ABNB	Hotels, Restaurants &	Consumer Discretionary	106422	US	Airbnb,
3.92	GCT	Distributors	Consumer Discretionary	2308	US	GigaCloud Technology
3.84	GLBE	Broadline Retail	Consumer Discretionary	6890	Israel	Global-E Online Ltd.
3.96	FIVE	Specialty Retail	Consumer Discretionary	13607	US	Five Below,
3.96	EXLS	Professional Services	Industrials	6496	US	ExlService Holdings,
3.92	EXPO	Professional Services	Industrials	4100	US	Exponent,
3.88	PCTY	Professional Services	Industrials	9297	US	Paylocity Holding
3.96	TPC	Construction & Engine	Industrials	5274	US	Tutor Perini
3.92	FAST	Trading Companies & D	Industrials	63733	US	Fastenal Company
3.92	EXPD	Air Freight & Logisti	Industrials	25263	US	Expeditors International of Wa
3.92	MAX	Interactive Media & S	Communication Services	754	US	MediaAlpha,
3.88	QNST	Interactive Media & S	Communication Services	1095	US	QuinStreet,
3.92	MGNI	Media	Communication Services	4212	US	Magnite,
3.96	CNK	Entertainment	Communication Services	4758	US	Cinemark Holdings,
3.88	MEOH	Chemicals	Materials	5429	Canada	Methanex
3.88	RGLD	Metals & Mining	Materials	21588	US	Royal Gold,
3.80	EOG	Oil, Gas & Consumable	Energy	80687	US	EOG Resources,
3.88	ELF	Personal Care Product	Consumer Staples	6715	US	e.l.f. Beauty,
3.80	WELL	Health Care REITs	Real Estate	179683	US	Welltower

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0GPA38TB (* means Wkly fast and slow Fract individually, stronger then SPY).

% Alloc	Sym	Name_currentList	Sym	Action	Sector	sharesHld	DlrHld	allocHld	Price
10%	ABNB	Airbnb Inc	ABNB		Consumer Discretionary	6	$1,120.7	9.3%	$186.78
10%	LLY	LILLY ELI & CO	LLY		Health Care	1	$1,443.5	12.0%	$1443.5
25%	QQQ	Powershrs Qqq Trust Sr 1	QQQ		n.a.	4	$2,719.6	22.6%	$679.89
25%	SPY	SPDR S&P 500	SPY		n.a.	4	$3,017.5	25.1%	$754.37
10%	TXN	TEXAS INSTRUMENTS	TXN		Information Technology	4	$1,214.4	10.1%	$303.6
10%	V	VISA INC CL A	V		Financials	3	$1,277.3	10.6%	$425.76
10%	*WELL	Welltower Inc	WELL		Real Estate	5	$1,222.3	10.2%	$244.46

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These selected ETFs are ideas in the current market environment. (* means 6 Month Grt < 0; + means 2 Month Grt < 0)

Style</>	% Alloc	Shares	Symbol	Name		Date
growth	5.25	2	XLV	Health Care Select	Late Cycle to Recession	2026-11-13
growth	5.25	1	VHT	Health	Late Cycle to Recession	2026-11-13
growth	5.25	2	VDC	Consumer Staples	Late Cycle to Recession	2026-11-13
growth	5.25	5	XLP	Consumer Staples Select	Late Cycle to Recession	2026-11-13
growth	5.25	14	SCHD	US Dividend Equity		2026-11-13
growth	5.25	7	KIE	Insurance	Late Cycle and Inflation	2026-11-13
growth	5.00	2	VOE	Mid Cap Value		2026-11-13
growth	5.00	6	SPLV	Invesco S&P 500 Low Volatility*		2026-11-13
growth	4.50	3	XLY	Consumer Discretionary*	Early Cycle	2026-11-13
growth	4.50	1	VCR	Discretionary*	Early Cycle	2026-11-13
growth	4.50	10	XLU	Utilities Select Sector*	Late Cycle to Recession	2026-11-13
cyclical	4.50	7	NOBL	ProShares S&P 500 Dividend Aristocrats*		2026-11-13
cyclical	5.00	8	XLF	Financial Select	Mid and Early Cycle	2026-11-13
cyclical	5.00	6	SDOG	Value		2026-11-13
cyclical	5.25	5	XHE	Health Care Equipment	Late Cycle to Recession	2026-11-13
cyclical	5.00	7	XLE	Energy Select Sector	Late Cycle and Inflation	2026-11-13
cyclical	5.25	3	XHS	Health Care Services	Late Cycle to Recession	2026-11-13
cyclical	5.25	5	XRT	Retail	Mid to Early Cycle	2026-11-13
cyclical	5.25	2	XSW	Software & Services		2026-11-13

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These selected ETFs are early signal in the current market environment. (* means 6 Month Grt < 0; + means 2 Month Grt < 0)

Style</>	% Alloc	Shares	Symbol	Name		Date
growth	5.25	2	VDC	Consumer Staples	Late Cycle to Recession	2026-11-13
growth	5.25	5	XLP	Consumer Staples Select	Late Cycle to Recession	2026-11-13
growth	5.25	2	XLV	Health Care Select	Late Cycle to Recession	2026-11-13
growth	5.25	1	VHT	Health	Late Cycle to Recession	2026-11-13
growth	5.25	6	SPLV	Invesco S&P 500 Low Volatility*		2026-11-13
growth	5.25	4	XLY	Consumer Discretionary*	Early Cycle	2026-11-13
growth	5.25	14	SCHD	US Dividend Equity		2026-11-13
cyclical	5.25	5	XRT	Retail	Mid to Early Cycle	2026-11-13
cyclical	5.25	8	NOBL	ProShares S&P 500 Dividend Aristocrats*		2026-11-13
cyclical	5.25	3	XHS	Health Care Services	Late Cycle to Recession	2026-11-13

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These selected stocks are ideas in the current market environment. Weekly and Monthly Fract better than SPY. * means Wkly fast and slow Fract individually, stronger then SPY.

#	%Alloc	Share	Sym	Name	Industry	Date	GPA	Ver

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These stocks are from S&P500 which have a stong Oscillator. Spy Osc=-3

Symbol	Bound	Osc	Max Fract	Percent tile	Draw Down	Draw Down 7yr	cagr 7Yr	Name	cagr By dd	score
MSI	0.59	9	1.1	43	-21	-25	18.53	Motorola Solutions Inc.	74	5.3
AAPL*	0.46	9	1.1	57	-36	-23	27.20	Apple Inc.	118	4.1
HLT	0.59	6	1.0	64	-31	-31	21.06	Hilton Worldwide Holdings Inc.	67	3.5
CTAS	0.56	6	1.1	24	-25	-23	19.82	Cintas Corporation	86	3.4
EBAY	0.46	7	1.0	99	-60	-49	19.55	eBay Inc.	39	3.2
RSG	0.54	6	1.1	43	-26	-19	16.51	Republic Services Inc.	86	3.2
MSFT*	0.52	6	1.1	35	-30	-29	19.87	Microsoft Corporation	68	3.1
COST	0.58	2	1.1	34	-26	-20	20.33	Costco Wholesale Corporation	101	1.2
SPY	1.00	-3	1.0	92	-33	-19	13.59	SNP500	71	-3.0
CPAY	0.35	24	0.3	96	-26	-26	18.54	Corpay Inc.	71	8.4
V*	0.59	11	1.0	38	-27	-21	13.14	Visa Inc.	62	6.5
LLY*	0.39	14	1.2	78	-35	-21	43.93	Eli Lilly and Company	209	5.5
GWW	0.58	9	0.9	70	-28	-21	24.43	W.W. Grainger Inc.	116	5.2
MCK	0.36	13	0.8	68	-45	-20	33.53	McKesson Corporation	167	4.7
LIN	0.83	2	0.8	6	-19	-18	14.19	Linde plc	78	1.7
PANW	0.13	1	0.8	90	-36	-27	34.47	Palo Alto Networks Inc.	127	0.1
AMD*	0.11	0	0.9	95	-77	-55	46.14	Advanced Micro Devices Inc.	83	0.0
WMT*	0.52	0	1.0	90	-24	-19	17.95	Walmart Inc.	94	0.0
AMZN*	0.37	0	0.7	24	-39	-47	17.23	Amazon.com Inc.	36	0.0
ANET	0.14	-6	0.9	74	-37	-30	49.33	Arista Networks Inc.	164	-0.8
FTNT	0.09	-10	0.9	65	-36	-33	30.32	Fortinet Inc.	91	-0.9
TSLA*	0.23	-8	0.5	38	-53	-58	49.78	Tesla Inc.	85	-1.8
RTX	0.33	-8	1.0	42	-21	-22	16.18	RTX Corporation	73	-2.6
JPM*	0.69	-4	1.0	88	-34	-34	15.21	JPMorgan Chase & Co.	44	-2.8
PWR	0.16	-21	1.1	93	-47	-23	46.20	Quanta Services Inc.	200	-3.4
META*	0.25	-14	0.8	11	-30	-30	101.26	Meta Platforms Inc.	337	-3.5
APH	0.28	-15	1.1	93	-33	-23	29.64	Amphenol Corporation	128	-4.2
KLAC	0.13	-33	1.2	96	-40	-33	36.07	KLA Corporation	109	-4.3
ORLY	0.61	-7	0.9	16	-21	-19	17.71	O'Reilly Automotive Inc.	93	-4.3
MU*	0.12	-40	0.8	97	-60	-44	49.65	Micron Technology Inc.	112	-4.8
AVGO*	0.19	-26	1.2	75	-25	-28	40.97	Broadcom Inc.	146	-4.9
HUBB	0.35	-14	0.9	49	-23	-21	16.92	Hubbell Incorporated	80	-4.9
GEV	0.16	-35	1.1	53	-27	-27	95.29	GE Vernova Inc.	352	-5.6
FIX	0.10	-56	1.0	93	-38	-34	55.67	Comfort Systems USA Inc.	163	-5.6
CASY	0.40	-14	1.1	95	-22	-19	22.70	Casey's General Stores Inc.	119	-5.6
HWM	0.18	-32	1.2	65	-17	-17	53.04	Howmet Aerospace Inc.	312	-5.8
NVDA*	0.18	-33	1.0	56	-58	-52	63.50	NVIDIA Corporation	122	-5.9
EME	0.21	-30	1.1	85	-36	-30	33.03	EMCOR Group Inc.	110	-6.3
GOOG*	0.30	-22	1.0	91	-34	-34	24.00	Alphabet Inc.	70	-6.6
GOOGL*	0.29	-23	1.0	87	-30	-34	24.22	Alphabet Inc.	71	-6.7



Stats for 2026-11-06 (1st week of the Month)

Weekly Market Trend & Sector Analysis

The Market Is Rotating Toward Defense. Is a Deeper Correction Ahead?

Weakening index momentum, fractured mega-cap leadership, and a shift toward defensive sectors are changing the market’s risk profile.

November 6, 2026  |  Market regime: Late-Cycle Defensive Rotation  |  Outlook horizon: 1–3 weeks

The market is sending a message that investors should not ignore: the index may still look relatively resilient, but the stocks and sectors supporting that resilience are changing. Healthcare and consumer staples are attracting attention, selected commodity exposure is showing strength, and several influential technology companies have slipped into negative momentum.

This is not yet proof that a broad market selloff is underway. It is, however, a meaningful deterioration in the quality of market leadership. The key question for the coming weeks is whether this defensive rotation remains orderly—or develops into a wider correction as weakness spreads among the market’s largest companies.

−4S&P 500 oscillator

56.9%Nasdaq share of listed-stock count

$11,488Median market capitalization

+14XHS oscillator

1. Market Trend: The Index Is Weakening as Leadership Narrows

A negative S&P 500 reading changes the risk equation

The S&P 500 oscillator stands at −4, keeping the broad index in negative momentum territory. This points to a corrective or consolidating phase rather than a market displaying strong, synchronized upside participation. A negative oscillator does not determine how far prices may fall, but it does argue against assuming that the next move will automatically be higher.

Exchange representation provides additional context. Nasdaq-listed companies account for 56.9% of the stock universe represented in the analysis, compared with 43.1% for NYSE/Amex. The median market capitalization is $11,488. These are stock-count and median-size observations—not measures of trading-volume leadership. They should not be interpreted as evidence that Nasdaq or NYSE/Amex is attracting more institutional money without separate volume data.

Mega-cap technology: the market’s most important warning

The divergence among major technology companies is one of the clearest signs that leadership has become less dependable. Apple and Microsoft remain positive, but several other influential names are showing materially negative oscillator readings.

Company	Ticker	Oscillator	What it suggests
NVIDIA	NVDA	−25	Deep negative momentum
Alphabet	GOOG / GOOGL	−22 to −23	Significant loss of momentum
Meta	META	−16	Negative momentum
Tesla	TSLA	−13	Negative momentum
Apple	AAPL	+7	Positive relative support
Microsoft	MSFT	+7	Positive relative support

When a number of major index constituents weaken at the same time, the broader market becomes more dependent on the remaining outperformers. Apple and Microsoft provide some support, but two positive readings do not offset the wider weakness across mega-cap leadership. A rally led by a narrow group can continue, but it is more vulnerable if those leaders falter.

Why this matters: The issue is not simply whether the S&P 500 is up or down. It is whether enough influential stocks are participating to make an advance durable. At present, the evidence points to fractured leadership—not a confirmed broad-based bullish expansion.

2. Sector Rotation: Defensive Areas Are Moving to the Front

Sector rankings show a clear preference for businesses with relatively stable demand and more predictable cash flows. Healthcare is particularly strong, with consumer staples also displaying positive momentum. This pattern is consistent with investors becoming more selective as confidence in aggressive growth leadership fades.

Area	ETF examples	Current reading
Healthcare	XLV, VHT	Strong defensive leadership; XLV oscillator +12 and VHT +11
Healthcare services	XHS	One of the strongest readings; oscillator +14
Consumer staples	VDC, XLP	Positive momentum and defensive positioning
Broad commodities	DBC	Strong positive oscillator momentum; selective strength
Retail	XRT	Mixed or negative cyclical momentum; monitor for selective resilience
Software	XSW	Watch for evidence of a technology-sector recovery
Gold and silver	GLD, SLV-related funds	Relatively weak in the broader sector rankings

The commodity signal deserves a closer look. DBC’s positive momentum suggests that commodity exposure should remain on the radar, but the strength is not uniform across real assets. Gold- and silver-related ETFs remain relatively weak in the broader rankings. In other words, the current evidence supports selective commodity strength, not a blanket conclusion that all real assets are advancing together.

Retail is also not a clear defensive leader. XRT may contain individual areas of resilience, but the broader retail and discretionary picture is mixed. It belongs on a secondary watchlist rather than among the core defensive allocations suggested by this week’s data.

3. Market Breadth and Fundamental Quality: Two Different Signals

Weakening price momentum does not mean that the market is short of high-quality businesses. The analysis identifies strong GPA characteristics across financial services, healthcare, software, and selected consumer companies. Mastercard, Visa, Eli Lilly, Microsoft, and other financial and healthcare names illustrate that fundamental quality remains present beneath the weakening index trend.

This distinction is important. GPA measures a different dimension from the oscillator: a company can have strong underlying quality while its share price is experiencing a short-term correction. Conversely, positive price momentum by itself does not establish strong fundamentals. Investors should avoid treating one measure as a substitute for the other.

The current median market capitalization of $11,488 is a useful reference point, but one weekly observation cannot establish whether leadership is migrating toward larger or smaller companies. That conclusion requires comparison with earlier readings.

What the current data can—and cannot—tell us

The November 6 material provides a current-week snapshot and sector rankings. It does not include the previous three weekly snapshots needed to verify a four-week trend in oscillators, GPA, breadth, or median market capitalization. Therefore, the defensive shift should be treated as a current cross-sectional signal, not yet as a proven multi-week acceleration.

4. Economic Outlook: A Late-Cycle Market Is Becoming More Selective

The market structure is consistent with a late-cycle environment in which investors are paying closer attention to the durability of economic growth and corporate earnings. Healthcare, consumer staples, dividend-oriented investments, and selected commodity exposure are attracting interest, while several former growth leaders are losing momentum.

Persistent inflation sensitivity and changes in real interest rates remain relevant considerations. Stronger broad-commodity momentum may reflect continued attention to inflation-sensitive assets, but it does not, on its own, prove that inflation is about to accelerate. Likewise, defensive sector leadership does not independently establish that a recession is imminent.

The more measured interpretation is that investors appear to be demanding greater earnings resilience and becoming less willing to pay for growth without confirming price strength. This is a cautious, transitional backdrop—not enough evidence to declare either a recession or a new inflation shock.

5. Investment Strategy: Protect Capital Without Abandoning Opportunity

In this environment, I would favor a defensive and selective approach rather than an indiscriminate move out of equities. The priority is to emphasize relative strength, fundamental quality, and disciplined position sizing while waiting for broader market participation to improve.

• Give preference to defensive leadership: healthcare and consumer staples currently show the clearest sector support.
• Favor quality and dividend resilience: dividend-oriented and fundamentally stronger businesses may offer a more balanced profile than speculative growth.
• Keep commodity exposure selective: DBC’s strength is worth monitoring, but do not assume that gold and silver are confirming the same trend.
• Be patient with high-growth technology: wait for improving oscillator readings and broader participation before treating a rebound as a durable recovery.
• Maintain risk discipline: avoid oversized positions and reassess exposure as new weekly data arrive.

6. ETF Opportunities: The Watchlist

The following ETFs deserve attention based on the current oscillator and sector-ranking analysis. They serve different purposes and should not be viewed as interchangeable investments.

ETF	Exposure	Why it is on the watchlist
XLV	U.S. healthcare sector	Strong sector ranking and positive momentum
XHS	Healthcare services	Especially strong oscillator reading
VHT	Broad healthcare	Positive momentum with diversified healthcare exposure
VDC	Consumer staples	Defensive exposure to essential-consumption businesses
XLP	Consumer staples	Sector exposure aligned with defensive positioning
SCHD	U.S. dividend equity	Dividend and quality-oriented portfolio characteristics
SPLV	S&P 500 low volatility	Lower-volatility approach during deteriorating breadth
DBC	Broad commodities	Strong positive commodity momentum
NOBL	Dividend aristocrats	Dividend-oriented exposure for a defensive allocation
XSW	Software and services	Monitor for signs of a technology recovery
XRT	Retail	Secondary watchlist; cyclical momentum remains mixed

7. The Seven ETF Candidates I Would Prioritize

Based on the current market environment, these are the seven candidates I would place at the top of the research list. The ranking reflects the present defensive and selective market thesis—not a guarantee of future performance or a claim that every fund is attractive at every price.

1. XLV — Health Care Select Sector SPDR Fund. My preferred defensive sector candidate, supported by a strong sector ranking and a +12 oscillator reading.
2. XHS — SPDR S&P Health Care Services ETF. Its +14 oscillator is the strongest specific reading highlighted in the current analysis, making it a leading relative-strength candidate.
3. DBC — Invesco DB Commodity Index Tracking Fund. Strong commodity momentum provides a selective inflation-sensitive opportunity, although the signal is not shared uniformly by precious-metals ETFs.
4. SCHD — Schwab U.S. Dividend Equity ETF. A dividend-oriented candidate that fits a preference for quality and more resilient cash-flow characteristics.
5. VDC — Vanguard Consumer Staples ETF. Provides exposure to essential-consumption businesses at a time when defensive sector leadership is improving.
6. XLP — Consumer Staples Select Sector SPDR Fund. A second way to express the consumer-staples theme through a dedicated sector allocation.
7. SPLV — Invesco S&P 500 Low Volatility ETF. A portfolio-stability candidate when broad-market momentum and participation are weakening.

XLV and VHT overlap substantially in their healthcare exposure; VDC and XLP similarly express the same broad consumer-staples theme. These are candidates for research, not a suggestion to hold every fund simultaneously. Portfolio construction should account for overlap, concentration, valuation, costs, and individual risk tolerance.

8. Market Prediction: What Could Happen Over the Next 1–3 Weeks?

Base case: continued consolidation, with a higher risk of a further pullback than of an immediate, sustained bullish breakout. The negative S&P 500 oscillator, weakening momentum among several mega-cap leaders, and stronger defensive-sector readings collectively point to a more difficult near-term environment.

Bullish path

If mega-cap technology begins to recover, the S&P 500 oscillator turns positive, and participation broadens beyond a small group of defensive leaders, the current consolidation could resolve higher. A recovery in technology leadership would improve confidence in the durability of an advance.

Bearish path

If negative momentum spreads to the remaining mega-cap leaders, the S&P 500 oscillator stays below zero, and defensive leadership continues to dominate, the probability of a deeper correction would increase. A narrow market would be more vulnerable to another wave of selling.

The signals to watch next

1. S&P 500 oscillator: Does it recover above zero, or remain negative?
2. Mega-cap participation: Do NVIDIA, Alphabet, Meta, and Tesla stabilize, and do Apple and Microsoft retain positive momentum?
3. Defensive-sector leadership: Do healthcare and consumer staples remain strong, or begin to lose relative strength?
4. Commodity confirmation: Does DBC sustain its strength, and does that strength broaden to other real-asset groups?
5. Multi-week confirmation: Do the next weekly readings confirm that breadth and leadership are deteriorating, or show that this week's rotation was temporary?

My conclusion: The market is not yet displaying the conditions of a healthy, broad-based advance. The evidence favors a late-cycle defensive rotation, with consolidation and downside risk elevated over the next one to three weeks. A deeper correction is a credible risk—but it is not confirmed. The next move will depend heavily on whether mega-cap technology stabilizes and whether the S&P 500 can regain positive momentum.

Market Dashboard

Market regime	Late-Cycle Defensive Rotation
Trend stage	Late Trend / Possible Transitional Phase
Risk assessment	Medium–High
Near-term outlook	Consolidation; elevated pullback risk
Preferred positioning	Defensive, Quality, Dividend, and Selective Commodity Exposure
Key confirmation needed	Improving S&P 500 momentum and broader mega-cap participation

Research note: This analysis is based on the market and sector data supplied for November 6, 2026. The source material provides a current-week snapshot, not the prior three weekly observations required to verify a four-week trend. Oscillator readings are treated as indicators of momentum, not price targets. Forecasts describe conditional scenarios and probabilities, not certainties. This article is for informational and research purposes only and is not individualized investment advice.

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Stats for 2026-11-06 (1st week of the Month)

List creation date: 2026-11-06

Median MarketCap: 11488

56.9% stocks on Nasdaq; 43.1% stocks on NYSE/Amex

Sector
Financials	31%
Health Care	18%
Consumer Discretionary	16%
Information Technology	14%
Communication Services	8%
Industrials	8%
Real Estate	4%
Materials	2%

Industry
Software	14%
Biotechnology	12%
Financial Services	10%
Capital Markets	8%
Banks	8%
Professional Services	6%
Household Durables	4%
Leisure Products	4%
Insurance	4%
Entertainment	4%
Interactive Media & S	4%
Health Care REITs	2%
Real Estate Managemen	2%
Pharmaceuticals	2%
Chemicals	2%
Trading Companies & D	2%
Hotels, Restaurants &	2%
Distributors	2%
Broadline Retail	2%
Specialty Retail	2%
Health Care Equipment	2%
Health Care Providers	2%
Consumer Finance	2%

Country
United States	84%
Switzerland	4%
Canada	4%
India	2%
Ireland	2%
Israel	2%
United Kingdom	2%

GPA	Sym	(0gpaamp5) Industry	Sector	MktCap	Country	Name
3.96	PAYS	Financial Services	Financials	809	US	Paysign,
3.92	MA	Financial Services	Financials	571422	US	Mastercard
3.88	CPAY	Financial Services	Financials	29350	US	Corpay,
3.80	V	Financial Services	Financials	785803	US	Visa
3.80	TOST	Financial Services	Financials	20428	US	Toast,
3.96	UCB	Banks	Financials	4429	US	United Community Banks,
3.92	IBN	Banks	Financials	113913	India	ICICI Bank Limited
3.88	DCOM	Banks	Financials	1855	US	Dime Commercial Bancshares, In
3.80	NBTB	Banks	Financials	2751	US	NBT Bancorp
3.96	VCTR	Capital Markets	Financials	6957	US	Victory Capital Holdings,
3.88	ICE	Capital Markets	Financials	97241	US	Intercontinental Exchange,
3.88	NDAQ	Capital Markets	Financials	59287	US	Nasdaq,
3.84	BLK	Capital Markets	Financials	180986	US	BlackRock,
3.96	SKWD	Insurance	Financials	2835	US	Skyward Specialty Insurance Gr
3.84	AJG	Insurance	Financials	73876	US	Arthur J. Gallagher &
3.80	OPRT	Consumer Finance	Financials	535	US	Oportun Financial
3.96	ONC	Biotechnology	Health Care	44031	Switzerland	BeOne Medicines AG
3.96	CDNA	Biotechnology	Health Care	4010	US	CareDx,
3.92	EXEL	Biotechnology	Health Care	16751	US	Exelixis,
3.92	KNSA	Biotechnology	Health Care	6942	United Kingdom	Kiniksa Pharmaceuticals Intern
3.84	VCEL	Biotechnology	Health Care	2643	US	Vericel
3.80	REGN	Biotechnology	Health Care	90518	US	Regeneron Pharmaceuticals,
3.84	MDT	Health Care Equipment	Health Care	128339	Ireland	Medtronic plc
3.92	PACS	Health Care Providers	Health Care	7968	US	PACS Group,
3.96	LLY	Pharmaceuticals	Health Care	1215635	US	Eli Lilly and Company
3.96	SN	Household Durables	Consumer Discretionary	30596	US	SharkNinja,
3.84	GRMN	Household Durables	Consumer Discretionary	55188	Switzerland	Garmin Ltd.
3.96	HAS	Leisure Products	Consumer Discretionary	16722	US	Hasbro,
3.80	RGR	Leisure Products	Consumer Discretionary	791	US	Sturm, Ruger & Company,
3.96	ABNB	Hotels, Restaurants &	Consumer Discretionary	99728	US	Airbnb,
3.84	GCT	Distributors	Consumer Discretionary	2256	US	GigaCloud Technology
3.96	GLBE	Broadline Retail	Consumer Discretionary	7278	Israel	Global-E Online Ltd.
3.84	ROST	Specialty Retail	Consumer Discretionary	75145	US	Ross Stores,
3.96	MSFT	Software	Information Technology	3976876	US	Microsoft
3.96	AVPT	Software	Information Technology	3474	US	AvePoint,
3.92	APPF	Software	Information Technology	8269	US	AppFolio,
3.92	DSGX	Software	Information Technology	8148	Canada	The Descartes Systems Group In
3.92	QTWO	Software	Information Technology	4672	US	Q2 Holdings,
3.88	PCOR	Software	Information Technology	11488	US	Procore Technologies,
3.84	ADSK	Software	Information Technology	56285	US	Autodesk,
3.96	EXLS	Professional Services	Industrials	6579	US	ExlService Holdings,
3.92	PCTY	Professional Services	Industrials	8997	US	Paylocity Holding
3.92	EXPO	Professional Services	Industrials	4081	US	Exponent,
3.96	FAST	Trading Companies & D	Industrials	60727	US	Fastenal Company
3.96	CNK	Entertainment	Communication Services	4594	US	Cinemark Holdings,
3.92	ROKU	Entertainment	Communication Services	23911	US	Roku,
3.96	QNST	Interactive Media & S	Communication Services	1160	US	QuinStreet,
3.96	MAX	Interactive Media & S	Communication Services	736	US	MediaAlpha,
3.88	WELL	Health Care REITs	Real Estate	180050	US	Welltower
3.84	JLL	Real Estate Managemen	Real Estate	17141	US	Jones Lang LaSalleorporate
3.88	MEOH	Chemicals	Materials	5091	Canada	Methanex

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0GPA38TB (* means Wkly fast and slow Fract individually, stronger then SPY).

% Alloc	Sym	Name_currentList	Sym	Action	Sector	sharesHld	DlrHld	allocHld	Price
8%	SHEL	Shell PLC (ADR)	SHEL		Energy	9	$891.8	7.6%	$99.09
0%	SPY	SPDR S&P 500	SPY	added	n.a.	0	$0.0	0.0%	$735.29
0%	*WELL	Welltower Inc	WELL	added	Real Estate	0	$0.0	0.0%	$245.01
0%	LLY	LILLY ELI & CO	LLY	added	Health Care	0	$0.0	0.0%	$1354
7%	TSM	TAIWAN SEMICONDUCTOR ADR		removed	Information Technology	2	$750.9	6.4%	$375.44
6%	MU	MICRON TECHNOLOGY INC		removed	Information Technology	1	$690.0	5.9%	$690
8%	AAPL	APPLE INC		removed	Information Technology	3	$1,027.1	8.7%	$342.37
7%	MPC	Marathon Petroleum		removed	Energy	2	$745.5	6.3%	$372.74
7%	ADI	ANALOG DEVICES		removed	Information Technology	2	$727.1	6.2%	$363.56
7%	ANET	Arista Networks Inc		removed	Information Technology	4	$683.2	5.8%	$170.8
6%	ASX	ADVANCD SEMICDTR ENG ADR		removed	Information Technology	20	$632.6	5.4%	$31.63
5%	FTNT	FORTINET INC		removed	Information Technology	5	$594.2	5.0%	$118.84
6%	AMD	ADVANCED MICRO DEVICES		removed	Information Technology	2	$898.1	7.6%	$449.04
7%	NVDA	NVIDIA CORP		removed	Information Technology	4	$746.6	6.3%	$186.64
7%	CSCO	CISCO SYSTEMS INC		removed	Information Technology	8	$750.8	6.4%	$93.85
7%	ASML	A S M L Holding N.V. NY		removed	Information Technology	1	$1,424.8	12.1%	$1424.75
6%	PWR	QUANTA SERVICES INC		removed	Industrials	1	$540.9	4.6%	$540.9
7%	SCCO	SOUTHERN COPPER CORP		removed	Materials	4	$669.1	5.7%	$167.27

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These selected ETFs are ideas in the current market environment. (* means 6 Month Grt < 0; + means 2 Month Grt < 0)

Style	% Alloc	Shares	Symbol	Name		Date
growth	5.25	14	SCHD	US Dividend Equity		2026-11-06
growth	5.25	8	KIE	Insurance	Late Cycle and Inflation	2026-11-06
growth	5.25	2	VDC	Consumer Staples*	Late Cycle to Recession	2026-11-06
growth	5.25	5	XLP	Consumer Staples Select*	Late Cycle to Recession	2026-11-06
growth	5.25	2	XLV	Health Care Select	Late Cycle to Recession	2026-11-06
growth	5.25	1	VHT	Health	Late Cycle to Recession	2026-11-06
growth	5.25	6	SPLV	Invesco S&P 500 Low Volatility*		2026-11-06
growth	5.25	4	XLY	Consumer Discretionary*	Early Cycle	2026-11-06
cyclical	5.25	3	XHS	Health Care Services	Late Cycle to Recession	2026-11-06
cyclical	5.25	5	XRT	Retail*	Mid to Early Cycle	2026-11-06

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These selected ETFs are early signal in the current market environment. (* means 6 Month Grt < 0; + means 2 Month Grt < 0)

Style	% Alloc	Shares	Symbol	Name		Date
growth	5.25	2	XLV	Health Care Select	Late Cycle to Recession	2026-11-06
growth	5.25	1	VHT	Health	Late Cycle to Recession	2026-11-06
growth	5.25	2	VDC	Consumer Staples*	Late Cycle to Recession	2026-11-06
growth	5.25	5	XLP	Consumer Staples Select*	Late Cycle to Recession	2026-11-06
growth	5.25	6	SPLV	Invesco S&P 500 Low Volatility*		2026-11-06
growth	5.25	14	SCHD	US Dividend Equity		2026-11-06
growth	5.25	8	KIE	Insurance	Late Cycle and Inflation	2026-11-06
cyclical	5.25	5	XRT	Retail*	Mid to Early Cycle	2026-11-06
cyclical	5.25	8	NOBL	ProShares S&P 500 Dividend Aristocrats*		2026-11-06
cyclical	5.25	3	XHS	Health Care Services	Late Cycle to Recession	2026-11-06

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These selected stocks are ideas in the current market environment. Weekly and Monthly Fract better than SPY. * means Wkly fast and slow Fract individually, stronger then SPY.

#	%Alloc	Share	Sym	Name	Industry	Date	GPA	Ver

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These stocks are from S&P500 which have a stong Oscillator. Spy Osc=-4

Symbol	Bound	Osc	Max Fract	Percent tile	Draw Down	Draw Down 7yr	cagr 7Yr	Name	cagr By dd	score
AAPL*	0.61	7	1.1	56	-36	-23	26.98	Apple Inc.	117	4.3
EBAY	0.46	9	1.0	99	-60	-49	19.28	eBay Inc.	39	4.1
MSI	0.56	7	1.1	42	-21	-25	18.31	Motorola Solutions Inc.	73	3.9
MSFT*	0.53	7	1.1	35	-30	-29	20.47	Microsoft Corporation	70	3.7
CAH	0.47	7	1.0	96	-48	-21	26.84	Cardinal Health Inc.	127	3.3
HLT	0.61	5	1.0	64	-31	-31	20.65	Hilton Worldwide Holdings Inc.	66	3.1
CTAS	0.56	5	1.1	24	-25	-23	18.89	Cintas Corporation	82	2.8
FAST	0.56	4	1.1	73	-33	-23	16.15	Fastenal Company	70	2.2
RSG	0.55	3	1.1	42	-26	-19	16.23	Republic Services Inc.	85	1.7
SPY	1.00	-4	1.0	91	-33	-19	13.28	SNP500	69	-4.0
V*	0.58	11	1.0	38	-27	-21	13.26	Visa Inc.	63	6.4
MCK	0.38	9	0.8	68	-45	-20	34.15	McKesson Corporation	170	3.4
LLY*	0.40	8	1.2	77	-35	-21	42.44	Eli Lilly and Company	202	3.2
GWW	0.63	5	0.9	69	-28	-21	23.91	W.W. Grainger Inc.	113	3.2
XOM*	0.33	8	0.4	94	-51	-44	12.78	ExxonMobil Holdings Corporatio	29	2.6
PANW	0.14	2	0.8	90	-36	-27	34.81	Palo Alto Networks Inc.	128	0.3
LIN	0.88	0	0.8	6	-19	-18	14.38	Linde plc	79	0.0
FTNT	0.08	-9	0.9	65	-36	-32	30.31	Fortinet Inc.	94	-0.7
COST	0.71	-1	1.1	32	-26	-20	19.57	Costco Wholesale Corporation	97	-0.7
AMZN*	0.50	-3	0.7	24	-39	-47	16.36	Amazon.com Inc.	34	-1.5
WMT*	0.52	-3	1.0	89	-24	-19	17.82	Walmart Inc.	93	-1.6
ANET	0.17	-15	0.9	70	-37	-30	46.31	Arista Networks Inc.	154	-2.6
TSLA*	0.23	-13	0.5	38	-53	-58	49.19	Tesla Inc.	84	-3.0
RTX	0.34	-11	1.0	39	-21	-22	15.90	RTX Corporation	72	-3.7
META*	0.24	-16	0.8	11	-30	-30	99.90	Meta Platforms Inc.	333	-3.8
PWR	0.16	-27	1.1	92	-47	-23	43.42	Quanta Services Inc.	188	-4.3
KLAC	0.13	-38	1.2	96	-39	-32	34.66	KLA Corporation	108	-4.9
FIX	0.09	-57	1.0	93	-37	-34	53.37	Comfort Systems USA Inc.	156	-5.1
MU*	0.12	-44	0.8	97	-60	-44	46.48	Micron Technology Inc.	105	-5.3
ORLY	0.66	-8	0.9	16	-21	-19	17.32	O'Reilly Automotive Inc.	91	-5.3
HUBB	0.35	-15	0.9	49	-23	-21	16.89	Hubbell Incorporated	80	-5.3
JPM*	0.77	-7	1.0	88	-34	-34	14.54	JPMorgan Chase & Co.	42	-5.4
GEV	0.17	-36	1.1	50	-27	-27	93.04	GE Vernova Inc.	344	-6.1
GOOGL*	0.28	-23	1.0	86	-30	-34	23.62	Alphabet Inc.	69	-6.4
NVDA*	0.26	-25	1.0	57	-58	-52	66.82	NVIDIA Corporation	128	-6.5
GOOG*	0.30	-22	1.0	90	-34	-34	23.56	Alphabet Inc.	69	-6.6
CASY	0.41	-16	1.2	95	-21	-19	21.81	Casey's General Stores Inc.	114	-6.6
EME	0.21	-32	1.1	84	-36	-30	31.06	EMCOR Group Inc.	103	-6.7
AVGO*	0.21	-34	1.2	67	-25	-28	37.68	Broadcom Inc.	134	-7.1
HWM	0.24	-34	1.3	65	-17	-17	51.61	Howmet Aerospace Inc.	303	-8.2