FolioMind · Theme & Leadership

OverviewBuyable NowSetup Radar Theme Spotlights Theme Picks Deep DivesEarnings

Market Read

Where the market stands right now — the regime backdrop the rest of this issue reads against.

Breadth has broadened, not narrowed. Equal-weight RSP is up 11.5% YTD and small-caps (IWM) up 17.1%, both crushing cap-weight SPY (~8.1%) and the Nasdaq-100 (QQQ +0.7%).

Big-cap tech is the YTD laggard, not the leader. The tape only looked narrow for one session: 07-31 was a mega-cap earnings pop (AMZN +15.3% on AWS +37%, GOOGL +6.7%, MSFT +3.0%) printed against a red broad market (RSP -0.17%, IWM -0.48%).

That is an artifact, not the regime. The real leadership is a value-cyclical plus defensive-quality rotation.

Energy leads on trailing return. Financials sit ~1% off an all-time high.

Cybersecurity is a quiet 30%-YTD leader. Broad industrials press highs, and healthcare/biotech are recovering off bases.

Running the other way, the entire 2025 story cohort has de-rated hard. AI-power and nuclear names broke (CEG -28% YTD), semis are having their worst month since 2008 (SMH ~20% off high), and quantum, crypto, space and even gold have all cracked.

So it is a two-track tape: risk-on into cash-flowing cyclicals and quality, risk-off out of pre-revenue narratives. The one residual fragility is that the cap-weighted index still sits ~1.8% off its high on a handful of hyperscalers.

If the earnings bid fades and the semi correction deepens, the headline index is more brittle than the broadening internals suggest.

Theme Radar

Every theme in one scan — its state, breadth, durability, the best current read, and what would break it.

ThemeStateBreadthRSSustainabilityBest read / kill condition

Buyable Now

Leading- and emerging-theme leaders currently pulling back to (or reclaiming) a rising key moving average — a timing shortlist, not a buy signal. Grouped by theme, sorted by MA tier then relative strength. The MA is the stop reference; extended and RS-faded leaders are deliberately excluded.

34buyable leaders16themes34pullbacks0reclaims

Energy (Oil & Gas E&P)established-leading

TickerTierDirFrom MAStopRiskRSSignal

APA100-SMApullback+0.7%100-SMA2.4%91▲ reclaim bar · 1.2× vol

Cybersecurityestablished-leading

TickerTierDirFrom MAStopRiskRSSignal

NET8-EMApullback+2.3%8-EMA5.0%90

OKTA21-EMApullback+2.4%21-EMA5.2%93▲ reversal (hammer) · 0.6× vol

Healthcareestablished-leading

TickerTierDirFrom MAStopRiskRSSignal

OSCR8-EMApullback+2.7%8-EMA5.4%96▲ doji · 0.6× vol

LLY50-EMA+SMApullback+0.1%50-EMA+SMA1.7%79▲ reversal (dragonfly_doji) · 1.0× vol

Biotechemerging-early

TickerTierDirFrom MAStopRiskRSSignal

RVMD8-EMApullback+0.5%8-EMA2.4%98▲ inside bar · 0.5× vol

Copper & Base-Metal Minersestablished-leading

TickerTierDirFrom MAStopRiskRSSignal

SCCO50-EMA+SMApullback+0.9%50-EMA+SMA3.1%87

TECK50-EMApullback+0.9%50-EMA3.1%84

Semiconductors — AI Computeextended-late

TickerTierDirFrom MAStopRiskRSSignal

TER50-SMApullback-3.4%50-SMA7.6%96

Aerospace & DefenseEstablished leader

TickerTierDirFrom MAStopRiskRSSignal

PKE50-EMA+SMApullback+0.1%50-EMA+SMA3.2%85

ESLT50-SMApullback+1.7%50-SMA3.1%81

Transports & Freightestablished-leading

TickerTierDirFrom MAStopRiskRSSignal

JBHT50-EMApullback-1.0%50-EMA2.7%86▲ reversal (harami) · 0.8× vol

Airlines / Air Travelemerging-early

TickerTierDirFrom MAStopRiskRSSignal

ULCC21-EMApullback+3.7%21-EMA7.2%90

ALGT50-EMA+SMApullback-0.4%50-EMA+SMA3.2%83

Materials & Steelemerging-early

TickerTierDirFrom MAStopRiskRSSignal

STLD8-EMApullback+1.0%8-EMA2.6%92▲ inside bar · 0.6× vol

Healthcare / Managed-Care Turnemerging-early

TickerTierDirFrom MAStopRiskRSSignal

CVS21-EMApullback-1.1%21-EMA2.4%90

CNC50-EMA+SMApullback+0.4%50-EMA+SMA2.6%92▲ reversal (engulfing) · 0.5× vol

HUM50-EMA+SMApullback-1.1%50-EMA+SMA3.2%91▲ inside bar · 0.8× vol

UNH50-EMA+SMApullback+1.0%50-EMA+SMA2.6%87▲ inside bar · 0.6× vol

Industrials (defense demoted to laggard)Established leader on the industrials engine; defense is a laggard

TickerTierDirFrom MAStopRiskRSSignal

DCO8-EMApullback+1.0%8-EMA3.1%92▲ inside bar · 0.8× vol

AIR8-EMApullback+2.2%8-EMA4.6%90

AI Compute Hardware & Serversestablished-leading

TickerTierDirFrom MAStopRiskRSSignal

DELL50-SMApullback+1.6%50-SMA5.8%98

Homebuilders / housing-adjacent (rate-cut beneficiaries)Emerging / early

TickerTierDirFrom MAStopRiskRSSignal

BZH10-EMApullback-1.4%10-EMA3.0%91

Biotech / life-science tools (M&A + lower-rates bid)established-leading

TickerTierDirFrom MAStopRiskRSSignal

ANRO8-EMApullback-1.0%8-EMA4.9%99

DNTH8-EMApullback+1.3%8-EMA4.1%98

NRIX8-EMApullback-1.2%8-EMA3.8%92▲ inside bar · 0.3× vol

COGT10-EMApullback-2.2%10-EMA4.5%95

ALMS21-EMApullback+2.5%21-EMA6.0%98

MRVI21-EMApullback+0.4%21-EMA3.0%97

CLYM50-EMA+SMApullback-0.6%50-EMA+SMA5.0%99

DRTS50-EMApullback+4.6%50-EMA8.4%97

Selective medtech / device breakoutsemerging-early

TickerTierDirFrom MAStopRiskRSSignal

AXGN8-EMApullback+2.7%8-EMA5.6%94

ESTA8-EMApullback+0.1%8-EMA2.1%93

IART50-EMApullback-3.1%50-EMA6.4%86

Full tiers (21-EMA · 50/100/200 EMA+SMA, confluence flagged) with real per-line rising flags + location-gated candlestick confirmation, from TP shared_panel schema_version 2.

Setup Radar

A tradeability-first swing watchlist across the leadership lifecycle. Scanned across the full US universe and staged: actionable now, coiling (armed, not yet triggered), and reset (former leaders basing back). Every name carries a defined stop and its risk in ATR. Descriptive setups with defined risk, not a buy list.

96on the watchlist35actionable now21coiling40reset watch

Actionable now35

At or reclaiming a rising fast MA, near highs, with a live trigger — the buyable edge of the list.

TickerThemeRS6-moOff highADRStop · riskTrigger

SYREBiotech Laggard-to-Leader (small/mid-cap)9999-6%6.4%10-EMA · 0.6Rpullback

RLAY—9898-9%6.4%21-EMA · 0.6Rpullback

TXG—9898-6%6.4%8-EMA · 0.6Rpullback

DFTX—9898-12%6.2%21-EMA · 0.9Rpullback

DNTH—9897-6%5.6%8-EMA · 0.7Rpullback

EXTRAI Networking / Optical Interconnect9497-11%4.9%50-SMA · 0.7Rpullback

INNV—9797-10%5.6%8-EMA · 0.7Rpullback

RVMD—9896-4%3.8%8-EMA · 0.6Rinside bar

TVTX—9796-7%4.5%21-EMA · 0.6Rpullback

DVA—9597-2%2.5%8-EMA · 0.9Rreversal

GEO—9296-4%3.5%10-EMA · 0.7Rpullback

LQDA—9896-8%6.2%8-EMA · 0.7Rpullback

ELVN—9797-2%4.5%8-EMA · 1.0Rpullback

OSCRManaged Care / Health-Plan Turn9697-6%5.4%8-EMA · 1.0Rdoji

VAC—9096-8%3.9%8-EMA · 0.8Rinside bar

DDOG—9697-4%5.1%8-EMA · 1.1Rdoji

TRVI—9595-10%6.8%8-EMA · 0.6Rdoji

YOU—9195-12%5.1%8-EMA · 0.6Rreversal

ZGN—9395-5%4.3%8-EMA · 0.7Rdoji

PEB—9394-4%3.0%10-EMA · 0.5Rreversal

RLJ—9394-2%2.7%8-EMA · 0.5Rinside bar

CBRL—9196-10%4.8%8-EMA · 1.1Rinside bar

CRNX—9894-1%2.9%8-EMA · 0.6Rpullback

MBX—9896-5%7.3%8-EMA · 1.1Rpullback

MPC—9496-3%2.9%8-EMA · 1.1Rpullback

MRX—9194-9%4.8%8-EMA · 0.6Rpullback

ODC—9294-7%3.8%8-EMA · 0.6Rpullback

PTGX—9594-5%4.7%8-EMA · 0.6Rreversal

DINO—9695-3%3.6%8-EMA · 0.9Rpullback

ECPG—9595-4%3.5%8-EMA · 0.9Rdoji

NHC—9493-3%3.1%8-EMA · 0.5Rpullback

PBITransports / Freight & Logistics9095-8%3.4%21-EMA · 1.0Rpullback

NAT—9494-3%4.1%8-EMA · 0.8Rpullback

ATI—9493-9%4.7%50-EMA+SMA · 0.6Rpullback

LILA—9495-5%3.9%8-EMA · 1.1Rpullback

Coiling21

Leaders pulled back to a rising 21/50, base tightening, defined risk — armed, not yet triggered.

TickerThemeRS6-moOff highADRStop · riskTrigger

KOD—9896-13%7.0%21-EMA · 0.4Rcoil

PVLA—9796-14%7.8%50-EMA · 0.5Rcoil

CRWDCybersecurity9395-12%5.5%50-SMA · 0.9Rcoil

PANWCybersecurity9596-10%5.2%50-SMA · 1.7Rcoil

KYMR—9290-20%5.1%50-EMA · 0.3Rcoil

TEN—9191-12%3.7%21-EMA · 0.7Rpivot

EWTX—9488-21%6.8%50-SMA · 0.1Rcoil

CASY—8890-6%3.1%21-EMA · 0.9Rpivot

PTRN—8991-23%6.5%50-SMA · 0.0Rcoil

UNFI—8988-11%3.5%21-EMA · 0.8Rpivot

ALNT—9290-16%6.1%50-SMA · 0.0Rcoil

DHT—8786-10%3.7%21-EMA · 0.7Rpivot

PRG—8287-8%4.4%50-EMA · 1.5Rreclaim

MSGE—8982-7%3.0%21-EMA · 0.4Rcoil

FLNG—7679-7%2.7%21-EMA · 0.6Rpivot

TCBK—8176-7%2.5%21-EMA · 0.2Rcoil

WLFC—7676-12%4.7%21-EMA · 0.5Rcoil

FFBC—7778-7%2.3%50-EMA · 1.1Rpivot

KSPICybersecurity6576-10%2.6%21-EMA · 0.6Rcoil

LAUR—8471-6%3.5%21-EMA · 0.6Rreclaim

MTX—6671-10%3.1%21-EMA · 0.8Rpivot

Reset watch40

Former leaders (strong 6-mo RS) basing or reclaiming after a deep pullback — tactical, defined-risk, not an investment call.

TickerThemeRS6-moOff highADRStop · riskTrigger

SEZL—9398-21%8.1%50-SMA · 0.4Rbase

IRDM—9498-17%3.6%50-EMA · 0.7Rbase

NKTR—9696-35%5.1%21-EMA · 0.4Rbase

BBCybersecurity9698-38%7.5%ADR-stop · 1.5Rbase

FSLY—9798-35%6.4%ADR-stop · 1.5Rbase

ICHRAI Compute / Semiconductors9798-34%12.9%ADR-stop · 1.5Rbase

TNGX—9898-21%6.5%ADR-stop · 1.5Rbase

TH—9297-27%5.6%ADR-stop · 1.5Rbase

SNX—9194-14%3.5%50-EMA · 0.8Rreversal

ERASBiotech Laggard-to-Leader (small/mid-cap)9995-25%7.1%50-EMA · 1.1Rbase

OUST—9196-39%11.4%ADR-stop · 1.5Rbase

BFLYSelective Medtech / Device Breakouts9693-27%9.4%50-EMA · 0.8Rbase

CNCManaged Care / Health-Plan Turn9290-10%4.5%50-EMA · 0.1Rreversal

ANAB—9494-26%8.3%ADR-stop · 1.5Rbase

COHU—9394-36%10.5%ADR-stop · 1.5Rbase

AMAT—9493-31%8.4%ADR-stop · 1.5Rbase

KLICAI Memory / HBM Super-Cycle9293-34%9.6%ADR-stop · 1.5Rbase

LINC—8493-26%6.5%ADR-stop · 1.5Rbase

WTTR—9193-14%4.7%ADR-stop · 1.5Rreversal

MCRI—7187-10%3.0%50-EMA · 0.1Rreversal

VRNS—6987-38%6.3%50-EMA · 0.2Rreversal

LASR—9692-21%9.5%ADR-stop · 1.5Rbase

RSI—7292-22%5.5%ADR-stop · 1.5Rreversal

VIAVAI Networking / Optical Interconnect9592-39%8.3%ADR-stop · 1.5Rbase

MGNI—7186-28%4.2%21-EMA · 0.2Rreversal

ADEA—8791-22%5.7%ADR-stop · 1.5Rreversal

SMTC—9191-34%9.1%ADR-stop · 1.5Rbase

EZPW—8589-20%5.9%ADR-stop · 1.5Rreversal

BATRK—6784-4%2.1%50-EMA · 0.3Rreclaim

ESE—8188-13%3.7%ADR-stop · 1.5Rreversal

NWL—7386-22%7.1%21-EMA · 1.0Rbase

VAL—8288-31%3.8%ADR-stop · 1.5Rreclaim

ACMR—9387-38%11.2%ADR-stop · 1.5Rbase

FROG—9087-20%7.2%ADR-stop · 1.5Rbase

ST—8287-14%3.9%21-EMA · 0.0Rbase

JBHTTransports / Freight & Logistics8686-9%3.3%ADR-stop · 1.5Rreversal

LYB—7484-26%3.5%21-EMA · 1.2Rreclaim

NBR—9385-24%4.2%ADR-stop · 1.5Rreclaim

POWIAI Compute / Semiconductors4885-33%7.0%ADR-stop · 1.5Rbase

SYNA—8285-28%6.5%ADR-stop · 1.5Rbase

Setup Radar gates on tradeability (defined risk on a swing horizon), not durable leadership — it deliberately includes reset candidates the other tabs exclude by design. Descriptive, never a recommendation.

Leading Theme Spotlights

In-depth cards for the leading and emerging themes — the driver, why it’s working now, whether it’s durable, the best read, the stocks, and what would break it.

Financials / Banks

LeadingExtended⚡2 buyableNew

61 breadth83 median RS62% RS>=8090% >50-DMA

What is driving it

Net interest margin expansion, a rate-cut/steepener setup, and fading 2023-24 CRE and deposit-flight fears. Regionals (KRE) printed fresh 52-week highs in mid-July. The edge is that the group is under-owned relative to the AI trade.

Why now

RS-rich vs pool (rs80 ratio 1.23 ≥ 1.15) + 200-DMA base intact prior 2026-07-10 discarded — aged (14 issues / 21d > 2 issues & 10d): fresh classification, trajectory unknown Top RS drivers: HSBC · RS 89 · M · +1% to pivot, SMFG · RS 88 · M · +3% to pivot, MUFG · RS 87 · M · +4% to pivot

Sustainability

Breadthmixed — 11/21 qualifying names self-funding/profitable

DurabilitySustainable as a structural risk-on tell, but rate- and credit-sensitive. This is a quiet leadership built on a high starting base, not a high-octane momentum burst, so it is more likely to grind than to spike. A curve re-flattening or a single-name bank scare is the main threat.

EconomicsSolid, at fair-to-premium valuations. JPM is Strong — ~17.5x earnings, 2.5x book, 16% ROE, fortress CET1 — but priced near a record with little cushion. FITB is reasonable (~16x, 1.4x book, ~3% yield) but revenue was flat YoY, so re-rating drove the move. KRE's basket trades near post-2022 highs.

Best current readBMOdriver-continuation

BMO leads with RS 87, only 0.7% to pivot and -2.6% from high, and carries a self-funding-growth quality tier with EPS +12.6%. In a leading theme (61.2 breadth, 90.5% above 50-DMA) it pairs top-quartile RS with the durable-earnings tiebreaker over mixed-GQ peers like HSBC/SMFG.

Kill condition: RS percentile drops below 80 or closes below the 50-DMA

13 drivers3 pullbacks5 watchlist0 broken excludedfull list in the Deep Dives tab

Leaders to inspect

TickerCapGQSetupWhy it mattersWatch item

HSBC$310BGQ MRS 89 / +1% pivot / -1% high / trendRS up 64 to 78 in three months with margins expanding amid bank leadership.Revenue down 11.2% and EPS down 2.5%; rally rests on rerating, not growth.

SMFG$81BGQ MRS 88 / +3% pivot / -3% high / trendRevenue +104.8% and EPS +85.7% with 23.9% operating margin as Japanese rates rise.FCF yield 0 with mixed growth-quality; outsized revenue comparison unlikely to repeat.

MUFG$219BGQ MRS 87 / +4% pivot / -3% high / trendEPS +34.8% with 23.4% operating margin as Japanese rates normalize; RS up 75 to 80.FCF yield 0 and mixed growth-quality flag cloud cash conversion behind reported earnings.

BBVA$131BGQ PRS 87 / -6% pivot / -0% high / trendRS jumping 57 to 72 with 40% operating margin; profitable, margins expanding.14% off its 52-week high, deepest pullback here, with modest 5.4% EPS growth.

+6 more in the Deep Dives tab

Recent leaders in pullback

TickerCapGQSetupWhy it mattersWatch item

JPM$836BGQ PRS 73 / +2% pivot / -2% high / trend16.1% FCF yield and 3.5% revenue growth; sits only 1.2% below pivot.Margins contracting with EPS growth of just 1.4%; RS fading to 62 from 66.

BAC$377BGQ SFRS 79 / +2% pivot / -2% high / trendEPS up 18.6% with expanding margins and 13.8% FCF yield; within 0.4% of pivot.Revenue slightly negative (-0.5%) and RS slipping to 68 from 72; earnings-driven, not top-line.

+1 more in the Deep Dives tab

Intact watchlist / exposed names

TickerCapGQSetupWhy it mattersWatch item

NTB$2BGQ SFRS 78 / +2% pivot / -2% high / trendEPS up 15.4% with 10.4% FCF yield; self-funding and holding above pivot.Revenue shrinking 2% and RS flat at 75 to 76; $2B size limits liquidity.

GS$269BGQ M⚡ 50-SMA reclaim · 4.9% risk / RS 75 / +7% pivot / -12% highCapital-markets rebound lifts EPS 26.6% with margins expanding; RS 85, only 6% off high.Revenue declining 1.8%; EPS growth driven by margin expansion rather than top-line growth.

+3 more in the Deep Dives tab

Biotech Laggard-to-Leader (small/mid-cap)

LeadingBasing⚡7 buyableDeterioratingCandidate

61 breadth94 median RS82% RS>=8075% >50-DMA

What is driving it

Small/mid-cap biotech turning from a multi-year laggard toward leadership.

Why now

RS-rich vs pool (rs80 ratio 1.63 ≥ 1.15) + 200-DMA base intact breadth_log Δscore -6.4 (prior 2026-07-30 · overlap 93% · age 1d/1 issues) Top RS drivers: ERAS · RS 99 · CB · +10% to pivot, SYRE · RS 99 · CB · +7% to pivot, ORKA · RS 99 · CB · +1% to pivot

Sustainability

Breadthstory-leaning — 95/130 cash-burning, 29/130 qualifying names self-funding/profitable

EconomicsComputed stock layer shows 108 drivers, 13 pullbacks, 9 watchlist names; use the GQ badges to separate self-funding growth from story momentum.

Best current readUTHRexposed-catch-up

Theme leads but is story-leaning (95/130 cash-burning). Sustainability tiebreaker favors UTHR: highest RS (78) among self-funding names, -15.1% off high, tight 4.6% pivot, durable profitable growth (10.6% rev, 13.3% eps) versus RS-99 cash-burners.

Kill condition: RS percentile drops below 70 or theme breadth turns deteriorating

108 drivers13 pullbacks9 watchlist3 broken excludedfull list in the Deep Dives tab

Leaders to inspect

TickerCapGQSetupWhy it mattersWatch item

ERAS$5BGQ CBRS 99 / +10% pivot / -25% high / trendExplosive momentum with RS surging 24 to 98; pipeline optimism drives laggard-to-leader re-rating.Cash-burning with ROIC -0.087 and negative FCF; clinical/financing risk, still -44.8% below high.

SYRE$3BGQ CB⚡ 10-EMA pullback · 4.1% risk / RS 99 / +7% pivot / -6% high / trendPipeline momentum: RS 97, EPS +55.7%, margins expanding, sits near 52w high.Cash-burning clinical stage: op margin -63.2%, negative FCF and ROIC; binary trial risk.

ORKA$2BGQ CBRS 99 / +1% pivot / -2% high / trendRS 97 sustained; eps growth 53.7%, just above pivot (-2.1%) signaling breakout.-26.4% below 52-week high; cash-burning with negative ROIC -0.073.

ANRO$728MGQ CB⚡ 8-EMA pullback · 4.9% risk / RS 99 / +5% pivot / -6% high / trendRS rocketed from 30 to 98; sitting right at pivot (0.4%), actionable breakout.Cash-burning and -25.6% below 52-week high; clinical-stage with no product revenue.

+6 more in the Deep Dives tab

Recent leaders in pullback

TickerCapGQSetupWhy it mattersWatch item

VRTX$111BGQ SFRS 47 / +4% pivot / -11% high / trendSelf-funding growth with 40.3% op margin; EPS rebounded sharply (up sharply (base-effect figure excluded)) on franchise strength.Margins contracting and thin 2.9% FCF yield; -8.4% below pivot, not yet leading.

RYTM$6BGQ CBRS 54 / +12% pivot / -19% highRev +45.8% with margins expanding off a small-cap base.Cash-burning, op margin -0.822; RS fading 84 to 72.

+6 more in the Deep Dives tab

Intact watchlist / exposed names

TickerCapGQSetupWhy it mattersWatch item

UTHR$25BGQ SFRS 78 / +5% pivot / -15% highSelf-funding profitable growth; op margin 0.451, positive FCF yield 0.038; Tyvaso drives +10.6% revenue.Margins contracting; modest 10.6% revenue growth; Tyvaso facing competitive and generic pressure.

ABVX$8BGQ M⚡ 50-EMA pullback · reversal · 4.1% risk / RS 76 / +12% pivot / -16% highRS surged 67 to 99 on trial-driven momentum; rev +19.2%.Below pivot (-21.6%), EPS growth just +2.9%; clinical-stage binary risk.

+7 more in the Deep Dives tab

Selective Medtech / Device Breakouts

LeadingBasing⚡4 buyableImproving

59 breadth86 median RS63% RS>=8085% >50-DMA

What is driving it

Stock-specific structural growth catalysts. Edwards is just below its 52-week high after a clean six-month base breakout, with Q1-2026 heart-therapy growth ~+42% YoY and raised FY guidance. Glaukos is reclaiming its 200-day from below. The selectivity is the...

Why now

RS-rich vs pool (rs80 ratio 1.25 ≥ 1.15) + 200-DMA base intact breadth_log Δscore +4.7 (prior 2026-07-30 · overlap 82% · age 1d/1 issues) Top RS drivers: BFLY · RS 96 · CB · +18% to pivot, AXGN · RS 94 · M · +9% to pivot, ESTA · RS 93 · CB · +3% to pivot

Sustainability

Breadthmixed — 9/16 qualifying names self-funding/profitable

DurabilityShort-term and fragile because it rests on 2-3 names. The broad device proxy IHI is the single weakest in the RS set (-25% off its high), so there is no sector tailwind underneath. This is a stock-picker's theme, not a own-the-group theme.

EconomicsThe named breakouts (EW, BSX) are healthy — profitable, growing, reasonable balance sheets — but the proxy weakness signals the average device name is struggling. Lowest conviction in the set for exactly this reason: the health is concentrated in a handful of names, not the group.

Best current readDXCMdriver-continuation

DXCM is the durable driver: RS 82, self-funding growth, rev 15.6% and eps 46.2%, only 4.1% off its high and already through pivot (-5.2%). Preferred over hotter cash-burning leaders ESTA, BFLY and GKOS on sustainability.

Kill condition: Closes below the 50-DMA or RS percentile drops below 80

10 drivers1 pullbacks5 watchlist0 broken excludedfull list in the Deep Dives tab

Leaders to inspect

TickerCapGQSetupWhy it mattersWatch item

BFLY$1BGQ CBRS 96 / +18% pivot / -27% high / trendRevenue up 19% with expanding margins and EPS up 9.8%; RS strong at 92.Deeply negative operating margin (-61.8%); still cash-burning despite revenue growth.

AXGN$2BGQ M⚡ 8-EMA pullback · 5.6% risk / RS 94 / +9% pivot / -10% high / trendRevenue up 20.2% with RS-leading 95 and turned FCF-positive (yield 0.4%).Still unprofitable — operating margin -16.3%, EPS -49.2% — amid commercial scaling costs.

ESTA$2BGQ CB⚡ 8-EMA pullback · 2.1% risk / RS 93 / +3% pivot / -5% high / trend27.1% revenue and 42.2% EPS growth with expanding margins; RS 87 leads the theme.Still cash-burning: -6.1% operating margin and negative FCF yield (-1.8%).

GKOS$7BGQ CBRS 92 / +10% pivot / -9% high / trend32.3% revenue growth with margins expanding toward breakeven.RS faded 82 to 71 in a 14.7% pullback; still cash-burning (-12.9% operating margin).

+6 more in the Deep Dives tab

Recent leaders in pullback

TickerCapGQSetupWhy it mattersWatch item

UFPT$2BGQ SFRS 66 / +2% pivot / -9% high / trendRevenue up 19.5%, eps 15.4%, self-funding with positive FCF yield 0.038.RS slipped to 60 from 70; thin ROIC 0.032; 15% off high.

Intact watchlist / exposed names

TickerCapGQSetupWhy it mattersWatch item

TNDM$1BGQ MRS 79 / +6% pivot / -34% highRS recovering sharply to 79 (from 54); margins expanding off low 2.9% base.Still -34.2% below 52w high; revenue declining -4.2%, negative FCF and ROIC.

PEN$13BGQ SFRS 60 / -0% pivot / -11% high17.5% revenue growth, expanding margins, up sharply (base-effect figure excluded) EPS rebound; RS surged from 36 to 60.Thin 1.7% FCF yield and 2.7% ROIC leave valuation dependent on continued growth delivery.

+3 more in the Deep Dives tab

Managed Care / Health-Plan Turn

LeadingPulling back⚡5 buyableNew

49 breadth89 median RS78% RS>=8044% >50-DMA

What is driving it

An earnings-margin recovery off a beaten-down trough. UNH reclaimed both its 50- and 200-day on its earnings print, dragging the cohort up. All five are recovering off depressed or loss-making 2025 quarters.

Why now

RS-rich vs pool (rs80 ratio 1.54 ≥ 1.15) + 200-DMA base intact prior 2026-07-30 discarded — membership reconstituted (overlap 43% < 50%): treated as a NEW composition, no trend claim, no hysteresis Top RS drivers: OSCR · RS 96 · M · +4% to pivot, CNC · RS 92 · M · +4% to pivot, HUM · RS 91 · M · +9% to pivot

Sustainability

Breadthmixed — 4/8 qualifying names self-funding/profitable

DurabilityGenuinely early and the least-crowded of the 'defensive' trio, so more runway than utilities or gold. But it is a recovery bet, not a secular growth story — the margin turn has to keep proving out, and the 2026 ACA subsidy cliff clouds CNC and others.

EconomicsMixed and recovering off trough. Cheap on sales (CNC 0.22x, MOH 0.50x), but profitability is still depressed (UNH ROE 5%, MOH ~0.3%) and balance sheets vary from net cash (CNC, MOH) to heavy leverage (CVS ~11.8x net-debt/EBITDA). The optically high EV/EBITDA multiples sit on trough earnings, not a permanent condition.

Best current readUNHdriver-continuation

UNH is the self-funding bellwether of the turn: RS 87, best top-line among durable names (rev 11.8%), eps -14.9% least-negative, -10.2% off high with a tight 4.2% pivot. Chosen over mixed-GQ OSCR, CNC, HUM on durability.

Kill condition: Closes below the 50-DMA or RS percentile drops below 80

6 drivers0 pullbacks2 watchlist0 broken excludedfull list in the Deep Dives tab

Leaders to inspect

TickerCapGQSetupWhy it mattersWatch item

OSCR$4BGQ M⚡ 8-EMA pullback · doji · 5.4% risk / RS 96 / +4% pivot / -6% high / trend27.5% revenue growth and outsized 36.3% FCF yield with RS 93 momentum.Deeply unprofitable: -11.9% operating margin, -22.8% ROIC, EPS collapsing amid contracting margins.

CNC$18BGQ M⚡ 50-EMA+SMA pullback · reversal · 2.6% risk / RS 92 / +4% pivot / -10% high19.4% revenue growth, 19.5% FCF yield, margins expanding; RS 90 near 52-week high.Still loss-making: -3.5% operating margin and deeply negative (base-effect figure excluded) EPS decline from elevated...

HUM$23BGQ M⚡ 50-EMA+SMA pullback · inside bar · 3.2% risk / RS 91 / +9% pivot / -15% highRS 93 within 0.6% of 52-week high on 10.1% revenue growth as sentiment turns.Negative -3.2% operating margin and contracting margins show medical-cost pressure persists.

CVS$101BGQ P⚡ 21-EMA pullback · 2.4% risk / RS 90 / +5% pivot / -6% high / trend6% FCF yield and steady RS 83, sitting 1.4% below pivot as group recovers.EPS fell 62.3% with margins contracting on a thin 2% operating margin.

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Intact watchlist / exposed names

TickerCapGQSetupWhy it mattersWatch item

ELV$69BGQ SFRS 63 / +3% pivot / -14% highRecovering to within 0.5% of 52-week high with 12.6% revenue growth and 6.9% FCF yield.Medical cost pressure: EPS -1.9% with operating margin contracting to 1.2%.

MOH$8BGQ MRS 51 / +19% pivot / -20% highRevenue still growing 11.7%; sits within 1.2% of pivot after deep pullback.EPS down 58% with negative operating margin; stock 34.8% below 52-week high.

AI Networking / Optical Interconnect

LeadingPulling back⚡2 buyableNewCandidate

48 breadth94 median RS100% RS>=8022% >50-DMA

What is driving it

Optical transceivers, switching, and the interconnect fabric tying GPU clusters together.

Why now

RS-rich vs pool (rs80 ratio 1.98 ≥ 1.15) + 200-DMA base intact prior 2026-07-04 discarded — membership reconstituted (overlap 26% < 50%): treated as a NEW composition, no trend claim, no hysteresis Top RS drivers: LITE · RS 98 · SF · +8% to pivot, CIEN · RS 96 · SF · +6% to pivot, VIAV · RS 95 · SF · +3% to pivot

Sustainability

Breadthdurability-leaning — broad participation, 7/8 qualifying names self-funding/profitable

EconomicsComputed stock layer shows 8 drivers, 0 pullbacks, 0 watchlist names; use the GQ badges to separate self-funding growth from story momentum.

Best current readLITEdriver-continuation

Top RS driver (98) in the strongest-breadth theme (47.5, 100% RS>=80), self-funding with rev +52.1% / eps +146.5%. Sits 8.2% under pivot after a -34.2% reset; leadership durable versus the group.

Kill condition: RS percentile drops below 80 or closes below the 50-DMA

8 drivers0 pullbacks0 watchlist0 broken excludedfull list in the Deep Dives tab

Leaders to inspect

TickerCapGQSetupWhy it mattersWatch item

LITE$64BGQ SFRS 98 / +8% pivot / -34% highRevenue +52.1%, EPS +146.5% on AI transceiver demand; RS surged 82 to 98.Still 24.3% below its 52-week high; operating margin thin at 9.7%.

CIEN$69BGQ SFRS 96 / +6% pivot / -41% highEPS up sharply (base-effect figure excluded) on 30.6% revenue growth as cloud/AI interconnect orders expand margins.Deep correction: 31.1% below 52-week high and 45.1% from pivot.

VIAV$10BGQ SFRS 95 / +3% pivot / -39% highRevenue +23.5% with RS 96 as AI/optical network buildouts lift test demand.EPS down 5.7% with margins contracting — growth is not reaching the bottom line.

EXTR$2BGQ SF⚡ 50-SMA pullback · 3.2% risk / RS 94 / +3% pivot / -11% high / trendEPS up 107.1% on 20% revenue growth with expanding margins; only 5% to pivot.Thin 4.1% operating margin and 1.6% ROIC; RS eased from 96 to 92.

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AI Compute / Semiconductors

LeadingPulling back⚡1 buyableImproving

37 breadth92 median RS80% RS>=805% >50-DMA

What is driving it

The sector being rotated OUT of in the 'buy hyperscalers, sell semis' handoff. AVGO's light Q3 AI guide ($16B vs ~$17.2B est) was the selloff catalyst. NVDA's +2.9% day masks a structurally weak, bifurcated group where edge names ran while memory and broad...

Why now

RS-rich vs pool (rs80 ratio 1.58 ≥ 1.15) + 200-DMA base intact breadth_log Δscore +2.6 (prior 2026-07-30 · overlap 95% · age 1d/1 issues) Top RS drivers: MU · RS 99 · SF · +23% to pivot, AXTI · RS 99 · CB · +14% to pivot, DELL · RS 98 · SF · +12% to pivot

Sustainability

Breadthmixed — 28/48 qualifying names self-funding/profitable

DurabilityLong-term uptrend intact (SMH still +20% vs its 200-DMA), but the near-term is a real drawdown, not leadership. Don't call a bottom here. The signal to re-engage is SMH reclaiming its 50-DMA; until then this is relative-strength-within-a-correction, not full-cycle leadership.

EconomicsFundamentally strong businesses in a correcting tape, at rich multiples. NVDA is elite (65% revenue growth, 63% ROIC, net cash) with a defensible ~41x. TSM is reasonable (~29x) for an advanced-node monopoly. ANET (~66x) and AVGO (~82x, only real net debt, lowest ROIC) are Stretched — AVGO leads the group's drawdown.

Best current readMUdriver-continuation

Highest RS in the theme (99) and self-funding growth with rev +85.5% / eps up sharply (base-effect figure excluded), the strongest fundamentals among the mega-cap drivers. Deep -34.4% pullback keeps it well below its 22.9% pivot, but relative leadership is intact.

Kill condition: RS percentile drops below 90 or theme breadth turns deteriorating

42 drivers3 pullbacks3 watchlist3 broken excludedfull list in the Deep Dives tab

Leaders to inspect

TickerCapGQSetupWhy it mattersWatch item

MU$474BGQ SFRS 99 / +23% pivot / -34% highAI memory upcycle: revenue +85.5%, EPS up sharply (base-effect figure excluded), 67.6% operating margin still expanding.FCF yield only 1% as heavy HBM capex absorbs cash; memory pricing is cyclical.

AXTI$3BGQ CBRS 99 / +14% pivot / -58% highRS 99, up from 94, on InP substrate demand for AI optics; margins expanding.Cash-burning with revenue -11.1% and EPS -75.7%; still 45.3% below 52-week high.

DELL$284BGQ SF⚡ 50-SMA pullback · 5.8% risk / RS 98 / +12% pivot / -14% high / trendAI server demand drives revenue +38.8% and EPS +100.8%.Margins contracting on low-margin AI server mix; 8.3% op margin, 18.7% off high.

TSEM$23BGQ PRS 98 / +6% pivot / -31% highRS 98 and op margin 0.161 expanding; rev +9.1% on specialty-analog demand.Thin 0.01 FCF yield and low 0.023 ROIC; capital-intensive foundry economics.

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Recent leaders in pullback

TickerCapGQSetupWhy it mattersWatch item

TXN$196BGQ SFRS 77 / +8% pivot / -17% highRevenue reaccelerating at 13% as analog demand recovers off cyclical trough.Margins contracting and EPS up just 4.8%; thin 1.4% FCF yield.

DIOD$4BGQ SFRS 73 / +7% pivot / -35% highEPS up 49.9% on 13% revenue growth; RS recovering to 72 from 33.Thin 3.4% operating margin and 0.5% ROIC show weak profitability; 30.9% below highs.

+1 more in the Deep Dives tab

Intact watchlist / exposed names

TickerCapGQSetupWhy it mattersWatch item

ADI$193BGQ SFRS 78 / +10% pivot / -18% highRev +29.8%, EPS +83.4%, 38% op margins expanding; self-funding growth.Down 12.8% from high, thin 2.4% FCF yield; cyclical analog demand.

AVGO$1.8TGQ SFRS 74 / +2% pivot / -21% highAI demand drives 36.3% revenue and 80.1% EPS growth at 45% operating margins.Shares 20.8% off highs; RS slipped 75 to 70 as margins contract.

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AI Memory / HBM Super-Cycle

LeadingPulling back⚡1 buyableNewCandidate

37 breadth98 median RS89% RS>=800% >50-DMA

What is driving it

HBM and high-end DRAM/NAND plus the memory-test and equipment names levered to the AI memory super-cycle.

Why now

RS-rich vs pool (rs80 ratio 1.76 ≥ 1.15) + 200-DMA base intact prior 2026-06-25 discarded — membership reconstituted (overlap 39% < 50%): treated as a NEW composition, no trend claim, no hysteresis Top RS drivers: MU · RS 99 · SF · +23% to pivot, SNDK · RS 99 · M · +16% to pivot, WDC · RS 99 · SF · +6% to pivot

Sustainability

Breadthdurability-leaning — broad participation, 6/8 qualifying names self-funding/profitable

EconomicsComputed stock layer shows 8 drivers, 0 pullbacks, 0 watchlist names; use the GQ badges to separate self-funding growth from story momentum.

Best current readMUdriver-continuation

The direct HBM play and top RS name (99), self-funding with rev +85.5% / eps up sharply (base-effect figure excluded). Broad participation (6/8 self-funding) supports durability; whole group sits below the 50-DMA so momentum is early, not broken.

Kill condition: RS percentile drops below 90 or theme breadth turns deteriorating

8 drivers0 pullbacks0 watchlist1 broken excludedfull list in the Deep Dives tab

Leaders to inspect

TickerCapGQSetupWhy it mattersWatch item

SNDK$126BGQ MRS 99 / +16% pivot / -48% highNAND upcycle: 23.6% revenue growth, 35.2% operating margins still expanding, RS 99.EPS comparison of deeply negative (base-effect figure excluded) with FCF and ROIC unreported; cyclical earnings...

WDC$116BGQ SFRS 99 / +6% pivot / -32% highAI storage demand: EPS up 192.9%, margins expanding to 31.9%, self-funding growth.Revenue growth only 4.7%; earnings leverage depends on cyclical HDD pricing holding.

STX$110BGQ SFRS 98 / +9% pivot / -25% high25.2% revenue growth with expanding margins and 11.9% ROIC on AI storage demand.Cyclical HDD pricing exposure; shares sit 12.5% below their 52-week high.

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Data-Center Physical Buildout — Cooling & Electricals

LeadingPulling backImprovingCandidate

31 breadth84 median RS60% RS>=8010% >50-DMA

What is driving it

Cooling, power distribution, and electrical gear inside the physical data center.

Why now

RS-rich vs pool (rs80 ratio 1.19 ≥ 1.15) + 200-DMA base intact intra-panel RS drift (no log history) Top RS drivers: BE · RS 97 · SF · +14% to pivot, PLPC · RS 92 · SF · +8% to pivot, POWL · RS 90 · M · +7% to pivot

Sustainability

Breadthdurability-leaning — broad participation, 6/8 qualifying names self-funding/profitable

EconomicsComputed stock layer shows 5 drivers, 1 pullbacks, 2 watchlist names; use the GQ badges to separate self-funding growth from story momentum.

Best current readNVTdriver-continuation

NVT leads a broad, durable theme with RS 88, self-funding growth, rev +29.5% and eps +118.4%. Only 16.7% off its high and 9% to pivot — the strongest blend of leadership, earnings quality and structure versus hotter but loss-making BE.

Kill condition: RS percentile drops below 80 or theme breadth turns deteriorating

5 drivers1 pullbacks2 watchlist1 broken excludedfull list in the Deep Dives tab

Leaders to inspect

TickerCapGQSetupWhy it mattersWatch item

BE$39BGQ SFRS 97 / +14% pivot / -41% highRevenue up 37.3% on data-center power demand; RS 98 leads the theme.EPS down 66.7% with near-zero 0.3% FCF yield; profitability lags 37% top-line growth.

PLPC$2BGQ SFRS 92 / +8% pivot / -14% highRevenue up 12.7%, self-funding, on grid and transmission hardware demand; RS 92.EPS down 4.8% with thin 6.8% operating margin and 1.5% ROIC.

POWL$8BGQ MRS 90 / +7% pivot / -36% highEPS up 16.7%, RS 96; strong order demand from data-center electrical buildout.Revenue growth only 5.1% and margins contracting; FCF/ROIC undisclosed.

NVT$21BGQ SFRS 88 / +9% pivot / -17% highRevenue up 29.5% and EPS up 118.4% on data-center electrical and cooling demand.Operating margins contracting (15.4%) and FCF yield thin at 1.4% despite rapid growth.

+1 more in the Deep Dives tab

Recent leaders in pullback

TickerCapGQSetupWhy it mattersWatch item

ETN$156BGQ SFRS 66 / +1% pivot / -5% high / trendBalanced 10.3% revenue and 10.1% EPS growth, self-funding the data-center electrification cycle.Margins contracting and RS slipping 73 to 66 as momentum cools.

Intact watchlist / exposed names

TickerCapGQSetupWhy it mattersWatch item

ENS$8BGQ MRS 78 / +10% pivot / -24% highBackup-power demand with margins expanding and RS 92 holding near 52-week highs.EPS down 14.2% and FCF yield negative (-16.4%) on just 3.7% revenue growth.

ATKR$2BGQ PRS 56 / +6% pivot / -19% highGroup-best 5.4% FCF yield; profitable, within 5.7% of pivot on conduit demand.Revenue down 7.2% and EPS down 113.6%; RS fading 88 to 80.

Transports / Freight & Logistics

EmergingPulling back⚡6 buyableImproving

19 breadth74 median RS36% RS>=8018% >50-DMA

What is driving it

A cyclical freight-cycle recovery, plus a rail-M&A premium in the rails. CSX is up 39.9% YTD and near its high, beating IYT on every timeframe — but part of that move is takeover speculation from the Western Class I merger wave, not pure freight fundamentals.

Why now

improving trend + RS distribution shifting up (rs80 ratio 0.72) intra-panel RS drift (no log history) Top RS drivers: ARCB · RS 92 · +12% to pivot, PBI · RS 90 · SF · +5% to pivot, JBHT · RS 86 · SF · +10% to pivot

Sustainability

Breadthdurability-leaning — broad participation, 13/16 qualifying names self-funding/profitable

DurabilityMedium. The cyclical leadership is durable while the freight recovery continues, but two of the three leaders (ODFL, JBHT) have paused below their 50-DMAs and converged with the ETF over the trailing month — constructive pullbacks that need to reclaim the 50-DMA to reconfirm. CSX's relative strength carries a merger premium that an STB block or deal collapse would unwind.

EconomicsStrong balance sheets, stretched multiples. CSX is healthy — record Q2 revenue +10%, 38% operating margin, investment-grade leverage — but rich at ~26x for a rail. ODFL has elite margins and net cash but ~40x P/E on flat revenue, and its Q2 EPS was flattered by an abnormal ~3% tax rate (normalized closer to $1.30 vs the reported $1.68). JBHT runs thin ~7% operating margins on...

Best current readPBIdriver-continuation

PBI leads with RS 90 and self-funding growth (eps +172.8%), only -8.1% off high with a modest 5.1% pivot. Chosen over higher-RS ARCB, whose n/a growth-quality fails the sustainability tiebreaker in a thin-breadth theme.

Kill condition: RS percentile drops below 80 or theme breadth turns deteriorating

7 drivers4 pullbacks6 watchlist2 broken excludedfull list in the Deep Dives tab

Leaders to inspect

TickerCapGQSetupWhy it mattersWatch item

ARCBGQ -⚡ 50-EMA pullback · inside bar · 2.4% risk / RS 92 / +12% pivot / -18% highRS 96 just -0.2% off 52-week high — top relative strength in freight group.Negative operating margin (-0.8%), contracting margins, cash-burning profile despite price strength.

PBI$2BGQ SF⚡ 21-EMA pullback · 3.4% risk / RS 90 / +5% pivot / -8% high / trendTurnaround economics: 172.8% EPS growth, 14.8% FCF yield, expanding 24.8% operating margins.Revenue declining 6.6% as core mail volumes shrink; gains depend on cost cuts.

JBHT$22BGQ SF⚡ 50-EMA pullback · reversal · 2.7% risk / RS 86 / +10% pivot / -9% highEPS +10.4% on flat revenue; RS jumped 82 to 91 over three months.Revenue -0.7% with margins contracting — freight demand still muted.

SNDR$5BGQ P⚡ 50-EMA+SMA pullback · 2.4% risk / RS 83 / +10% pivot / -9% highRS 90 with 7.3% revenue growth and expanding margins signal freight-cycle recovery.Thin 2.6% operating margin and -10.6% EPS show truckload pricing still pressured.

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Recent leaders in pullback

TickerCapGQSetupWhy it mattersWatch item

ODFL$44BGQ PRS 76 / +12% pivot / -16% highBest-in-class 23.3% operating margin endures freight recession; RS firmed 87 to 90.Revenue -5.5%, EPS -11.9%, margins contracting on soft LTL tonnage.

EXPD$19BGQ P⚡ 50-EMA+SMA pullback · reversal · 1.9% risk / RS 76 / +9% pivot / -8% high / trendWithin 0.5% of 52-week high; 4.4% revenue growth with steady profitability.Modest 3.8% EPS growth and flat margins; freight-rate normalization caps forwarding yields.

+2 more in the Deep Dives tab

Intact watchlist / exposed names

TickerCapGQSetupWhy it mattersWatch item

HUBG$2BGQ P⚡ 50-EMA pullback · reversal · 3.5% risk / RS 71 / +11% pivot / -12% high / trendTrades just above pivot after pullback; 4.2% FCF yield and profitability intact.Revenue down 5.8% with contracting margins; RS slipped to 76 from 81.

ZTO$18BGQ SFRS 67 / +1% pivot / -8% highSelf-funding: 13.2% FCF yield supports 13.3% revenue growth; RS recovering from 32 to 40.Parcel price competition compresses profits: EPS up only 0.4% despite double-digit revenue; margins contracting.

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Theme Picks

One name per theme — the single best expression of each theme right now, with the case for it and what would break it.

9 active leading/emerging3 watch-state7 only on repair0 no durable pick

BMODriver

LeadingExtended⚡2 buyableNew

Financials / Banks

$102BGQ SFRS 87 / +1% pivot / -3% high / trend

Breaks if: RS percentile drops below 80 or closes below the 50-DMA

UTHRWatchlist / exposed

LeadingBasing⚡7 buyableDeterioratingCandidate

Biotech Laggard-to-Leader (small/mid-cap)

$25BGQ SFRS 78 / +5% pivot / -15% high

Breaks if: RS percentile drops below 70 or theme breadth turns deteriorating

DXCMDriver

LeadingBasing⚡4 buyableImproving

Selective Medtech / Device Breakouts

$25BGQ SFRS 82 / -5% pivot / -4% high / trend

Breaks if: Closes below the 50-DMA or RS percentile drops below 80

UNHDriver

LeadingPulling back⚡5 buyableNew

Managed Care / Health-Plan Turn

$276BGQ SF⚡ 50-EMA+SMA pullback · inside bar · 2.6% risk / RS 87 / +4% pivot / -10% high / trend

Breaks if: Closes below the 50-DMA or RS percentile drops below 80

LITEDriver

LeadingPulling back⚡2 buyableNewCandidate

AI Networking / Optical Interconnect

$64BGQ SFRS 98 / +8% pivot / -34% high

Top RS driver (98) in the strongest-breadth theme (47.5, 100% RS>=80), self-funding with rev +52.1% / eps +146.5%. Sits 8.2% under pivot after a -34.2% reset; leadership durable versus the group.

Breaks if: RS percentile drops below 80 or closes below the 50-DMA

MUDriver

LeadingPulling back⚡1 buyableImproving

AI Compute / Semiconductors

$474BGQ SFRS 99 / +23% pivot / -34% high

Breaks if: RS percentile drops below 90 or theme breadth turns deteriorating

MUDriver

LeadingPulling back⚡1 buyableNewCandidate

AI Memory / HBM Super-Cycle

$474BGQ SFRS 99 / +23% pivot / -34% high

Breaks if: RS percentile drops below 90 or theme breadth turns deteriorating

NVTDriver

LeadingPulling backImprovingCandidate

Data-Center Physical Buildout — Cooling & Electricals

$21BGQ SFRS 88 / +9% pivot / -17% high

Breaks if: RS percentile drops below 80 or theme breadth turns deteriorating

PBIDriver

EmergingPulling back⚡6 buyableImproving

Transports / Freight & Logistics

$2BGQ SF⚡ 21-EMA pullback · 3.4% risk / RS 90 / +5% pivot / -8% high / trend

Breaks if: RS percentile drops below 80 or theme breadth turns deteriorating

LLYPullback re-entry

Mixed / WatchBasing⚡3 buyableNew

GLP-1 / Obesity & Large-Cap Pharma

$888BGQ SF⚡ 50-EMA+SMA pullback · reversal · 1.7% risk / RS 79 / +7% pivot / -8% high / trend

LLY is the core obesity/GLP-1 name with by far the best growth quality here (44.7% rev, 96.0% eps, self-funding). It led recently, is only -8.1% off high and intact, with a 7.2% pivot back to prior leadership.

Breaks if: RS percentile drops below 70 or closes below the 50-DMA

OVVDriver

Mixed / WatchBasing⚡6 buyableNew

Energy / Oil & Gas (E&P + Services)

$16BGQ SFRS 89 / +3% pivot / -3% high / trend

OVV pairs leadership (RS 89, only -3.3% off high) with durability (self-funding growth, eps +13.8%) in a broad, emerging theme. Tight to pivot (3.4%) and near new highs, favored over more-extended higher-RS names of weaker quality.

Breaks if: RS percentile drops below 80 or closes below the 50-DMA

TECKDriver

Mixed / WatchPulling back⚡2 buyableImproving

Copper — AI / Electrification

$27BGQ SF⚡ 50-EMA pullback · 3.1% risk / RS 84 / +4% pivot / -15% high

Among self-funding drivers, TECK sits closest to its high (-15.4%) with the tightest pivot (3.9%) and strongest fundamentals (rev 18.6%, eps up sharply (base-effect figure excluded)). Equally durable to SCCO but a better setup. Theme internals are weak (only 16.7% above...

Breaks if: Theme breadth deteriorates further or TECK closes below the 50-DMA

FTNTOnly on repair

FadingBasing⚡3 buyableDeteriorating

Cybersecurity

$57BGQ SFRS 95 / +5% pivot / -5% high / trend

With the theme breaking down, FTNT is the durable choice: RS 95, self-funding growth, EPS +7.5% rev +14.2%, and only -4.9% from high versus deep-base leaders like BB (-37.5%) and mixed-GQ PANW/CRWD. Highest-RS profitable name still holding near highs.

Breaks if: Theme breadth turns deteriorating further or FTNT closes below the 50-DMA

PSMTOnly on repair

FadingBasingStable

Consumer Staples / Defensive Rotation

$5BGQ SFRS 89 / +3% pivot / -3% high / trend

Top RS in the group (89), tightest structure at -3.0% from high and only 2.6% to pivot, with self-funding growth and real 8.8% revenue growth. Cleaner sustainability profile than cash-burning TBBB or fundamentally-declining TGT (rev -0.4%, eps -16.8%).

Breaks if: RS percentile drops below 80 or closes below the 50-DMA

VVXOnly on repair

FadingBasing⚡5 buyableDeteriorating

Defense / Aerospace & Drones

$2BGQ SFRS 93 / +1% pivot / -2% high / trend

VVX carries the theme's top RS (93), sits -1.7% from high with a 1.1% pivot, and is self-funding growth with EPS +125.9%. In a mixed-breadth theme it is the highest-RS name still tight to highs and profitable, edging cash-burning DCO and broken-base ATRO (-21.7%).

Breaks if: RS percentile drops below 80 or closes below the 50-DMA

CGAUOnly on repair

Breaking DownPulling back⚡1 buyableNew

Gold & Precious Metals

$4BGQ SF⚡ 8-EMA pullback · 4.2% risk / RS 91 / -0% pivot / -19% high

CGAU is the theme's sole qualifying name: RS 91, self-funding growth, rev +11.9% and eps up sharply (base-effect figure excluded). Sitting right at its pivot (-0.3%) despite -18.6% off high. No group confirmation, so the entire read rests on this one leader holding.

Breaks if: RS percentile drops below 80 or closes below the 50-DMA

IESCOnly on repair

FadingPulling back⚡2 buyableDeteriorating

Industrials & Construction / AI-Infrastructure Capex

$11BGQ SFRS 95 / +4% pivot / -7% high / trend

IESC leads on RS (95), sits only -7.4% off its high with a tight 4.1% pivot, and pairs 16.5% rev / 56.1% eps growth with self-funding quality. In a breaking-down theme, the strongest, closest-to-high, self-funding name is the safest carrier.

Breaks if: RS percentile drops below 80 or closes below the 50-DMA

HPEOnly on repair

FadingPulling backStableCandidate

Neocloud / AI Datacenter Operators (GPU-rental + servers)

$73BGQ SFRS 97 / +4% pivot / -26% high / trend

Both drivers show RS 97, but HPE is self-funding and profitable (rev +23.2%, eps +7.1%) and sits just 3.8% from pivot, versus NBIS which is cash-burning. Sustainability tiebreaker favors HPE despite the theme's breaking-down breadth.

Breaks if: Closes below the 50-DMA or RS percentile drops below 80

GEVOnly on repair

Breaking DownPulling backStable

AI Power Generation / IPPs / Uranium & Nuclear

$267BGQ SFRS 74 / +15% pivot / -17% high

GEV is the theme's only intact name: self-funding growth, eps +218.7%, down 17.2% from high after leading. RS 74 is sub-leadership and it sits 15.2% below pivot, so this is a distressed-quality reentry watch, not a confirmed leader.

Breaks if: Closes below the 50-DMA or RS percentile drops below 65

Theme Deep Dives

Every name behind each theme — leaders, pullbacks, and watchlist — each with its setup, tailwind, and key risk.

How to read this: drivers are leading now; pullbacks led recently and are in a dip; watchlist names are exposed and intact but not yet leading. GQ means growth quality: SF self-funding, P profitable, M mixed, CB cash-burning.

Financials / BanksLeadingExtended⚡2 buyableNew13 drivers · 3 pullbacks · 5 watchlist · 0 broken excluded · ⚡2 setups▾

stock-layer pickBMOBMO leads with RS 87, only 0.7% to pivot and -2.6% from high, and carries a self-funding-growth quality tier with EPS +12.6%. In a leading theme (61.2 breadth, 90.5% above...

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HSBC$310BGQ MRS 89 / +1% pivot / -1% high / trendRS up 64 to 78 in three months with margins expanding amid bank leadership.Revenue down 11.2% and EPS down 2.5%; rally rests on rerating, not growth.

BMO$102BGQ SFRS 87 / +1% pivot / -3% high / trendEPS +12.6% with expanding margins, 9.4% FCF yield; RS improved 76 to 83.Revenue -4% contraction leaves earnings growth dependent on margin expansion, not topline.

RY$265BGQ SFRS 85 / +2% pivot / -4% high / trendEPS +22.5%, 20.7% FCF yield, expanding margins; sits 0.3% from a fresh pivot.Topline growth only 2.1%; earnings momentum leans on continued margin expansion.

TD$192BGQ PRS 85 / +1% pivot / -4% high / trendRS 84 and rising, 0.7% off 52-week high; margins expanding with 9.3% FCF yield.Revenue -5.6% and EPS -12.1% both contracting despite the expanding margins.

CM$101BGQ SFRS 85 / +1% pivot / -3% high / trendEPS +26.8% on expanding margins; RS jumped from 71 to 80 in three months.Revenue -3.3%; price 5.4% off highs and 5.7% below pivot, weakest setup in group.

ING$83BGQ MRS 85 / -4% pivot / -0% high / trendRS firming to 68 from 65 with a high 36.1% operating margin.EPS down 9.9% with contracting margins; still 7.3% below pivot.

SAN$179BGQ MRS 83 / -1% pivot / -2% high / trendEPS up 15.6% with expanding margins; RS firming 66 to 75.Revenue down 6.2% with negative FCF yield (-6.4%); growth leans on cost leverage.

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JPM$836BGQ PRS 73 / +2% pivot / -2% high / trend16.1% FCF yield and 3.5% revenue growth; sits only 1.2% below pivot.Margins contracting with EPS growth of just 1.4%; RS fading to 62 from 66.

BCS$82BGQ CBRS 75 / +4% pivot / -4% high / trendRevenue up 11.8% and EPS up 21.4%, the strongest top-line growth in group.Margins contracting with negative reported operating margin; flagged cash-burning, 11.2% off highs.

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NTB$2BGQ SFRS 78 / +2% pivot / -2% high / trendEPS up 15.4% with 10.4% FCF yield; self-funding and holding above pivot.Revenue shrinking 2% and RS flat at 75 to 76; $2B size limits liquidity.

EWBC$16BGQ SFRS 73 / +1% pivot / -4% high / trendSelf-funding growth: EPS up 14.3%, 42% operating margin, 8.7% FCF yield, near highs.RS slipping 81 to 78 while peers accelerate; revenue growth a modest 4.6%.

C$218BGQ M⚡ 50-SMA reclaim · 3.5% risk / RS 72 / +1% pivot / -10% highRestructuring payoff: EPS +17.1%, RS 85, trading within 1% of 52-week high.Revenue down 1.4% with margins contracting; earnings growth not yet revenue-driven.

WFC$264BGQ SFRS 58 / +2% pivot / -11% higheps +17.5%; large $264B cap; sitting exactly at pivot (0% to pivot).rev -1.5% with margins contracting; -12.6% from high; very low FCF yield 0.004.

Biotech Laggard-to-Leader (small/mid-cap)LeadingBasing⚡7 buyableDeterioratingCandidate108 drivers · 13 pullbacks · 9 watchlist · 3 broken excluded · ⚡7 setups▾

stock-layer pickUTHRTheme leads but is story-leaning (95/130 cash-burning). Sustainability tiebreaker favors UTHR: highest RS (78) among self-funding names, -15.1% off high, tight 4.6% pivot...

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ORKA$2BGQ CBRS 99 / +1% pivot / -2% high / trendRS 97 sustained; eps growth 53.7%, just above pivot (-2.1%) signaling breakout.-26.4% below 52-week high; cash-burning with negative ROIC -0.073.

SLS$678MGQ CBRS 99 / +36% pivot / -37% highRS 98 (up from 90); strong relative-strength leadership within the laggard-to-leader theme.Sits 20.1% below pivot, still basing; cash-burning with ROIC -0.115.

CLYM$573MGQ CB⚡ 50-EMA+SMA pullback · 5.0% risk / RS 99 / +21% pivot / -18% highRS 98 and just -10.8% from high; approaching pivot (9.4%) on improving momentum.Cash-burning with deeply negative FCF yield -0.071 and ROIC -0.12.

RLMD$535MGQ CBRS 99 / +7% pivot / -34% highRS surged to 97 from 44 three months ago — strong momentum re-rating off laggard base.Cash-burning with negative ROIC -0.232 and FCF yield -0.1; clinical-stage, no product revenue.

FBRX$487MGQ CBRS 99 / +1% pivot / -1% high / trendStrongest momentum in group; RS 99, only 2.3% below 52-week high.Cash-burning with negative FCF yield and -39.6% ROIC; clinical binary risk.

ANL$349MGQ CB⚡ 8-EMA pullback · inside bar · 8.1% risk / RS 99 / +4% pivot / -25% high / trendRS surged 6→99 with EPS up 51%; classic laggard-to-leader momentum reversal.Deeply unprofitable (operating margin −up sharply (base-effect figure excluded)), cash-burning; still −46.7% below...

STTK$331MGQ CB⚡ 13-EMA pullback · 5.6% risk / RS 99 / +9% pivot / -13% high / trendRS surged 66 to 99, price -7.4% from high, 1.5% to pivot.Cash-burning: rev -82.5%, negative FCF yield -0.053, ROIC -0.159.

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RYTM$6BGQ CBRS 54 / +12% pivot / -19% highRev +45.8% with margins expanding off a small-cap base.Cash-burning, op margin -0.822; RS fading 84 to 72.

ACAD$4BGQ SFRS 64 / +2% pivot / -9% highSelf-funding growth: eps +68.4%, positive FCF yield 0.048.Margins contracting, thin ROIC 0.013; RS fading 80 to 72.

DNLI$3BGQ CB⚡ 50-EMA+SMA pullback · 3.0% risk / RS 79 / +4% pivot / -16% high / trendRS recovered 37 to 69; sits just 1.5% below pivot as lead programs advance.Pre-commercial cash burn (FCF yield -11.5%); outcomes hinge on regulatory and trial results.

IDYA$3BGQ CBRS 77 / +7% pivot / -12% high / trendRevenue up sharply (base-effect figure excluded) and RS jumped 32 to 65; margins expanding.Cash-burning with -8.70 op margin and -0.09 ROIC; near pivot only.

IRON$3BGQ CBRS 70 / +1% pivot / -23% highLargest mcap ($3B) in cohort; emerging biotech with RS 68 within rotation theme.EPS -50.6%, cash-burning (FCF yield -0.076), -24.8% off highs, RS cooling from 72.

BCRX$2BGQ SFRS 64 / +10% pivot / -20% highExplosive growth with rev +94.1%, eps up sharply (base-effect figure excluded), op margin 0.64, ROIC 0.721; self-funding.Single-product reliance; RS 66 still mid-tier, -9.1% off highs, -1.2% to pivot.

AVBP$1BGQ CBRS 74 / +11% pivot / -17% highStrong RS 77 with lead furmonertinib in Phase 3 NSCLC; only 10% below pivot.Cash-burning pre-revenue; FCF yield -0.114, ROIC -0.126, EPS -87%; binary trial risk.

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VIR$2BGQ CBRS 70 / +11% pivot / -26% highRS re-rated 24 to 70 off deep laggard base; hepatitis and oncology pipeline optionality.Revenue declining -7.6%, cash-burning (op margin -0.571, FCF yield -0.375); -27% from 52w high.

PCVX$9BGQ CBRS 69 / +6% pivot / -17% highRS surged 25 to 64; pipeline momentum, 7.9% to pivot.Cash-burning: eps -44.4%, FCF yield -0.115, ROIC -0.096; -24.1% off high.

ASND$15BGQ SFRS 67 / +7% pivot / -14% highRevenue +97.4%, self-funding growth with positive 0.04 op margin and FCF.Thin profitability (0.014 ROIC); RS 62 still lagging at $15B cap.

BMRN$10BGQ SFRS 63 / +5% pivot / -9% high / trendRevenue +12.9%, self-funding with positive FCF yield 0.065, near pivot (1.5%).EPS -18.2% with margins contracting and lagging RS of 54.

ARGX$49BGQ SFRS 61 / +10% pivot / -10% highVyvgart ramp drives revenue +108.5%, EPS up sharply (base-effect figure excluded); now profitable (op margin 0.274), self-funding.Near 52w high (-5.4%), momentum cooling (RS 81 to 78); rich expectations, FcRn franchise concentration.

SRRK$6BGQ CBRS 56 / +6% pivot / -19% highMargins flat but pipeline positions it within emerging biotech theme.RS slipping 68 to 60; cash-burning, ROIC -0.259, eps -30.6%.

HRMY$2BGQ SFRS 45 / +5% pivot / -14% highWakix franchise driving 21.5% revenue growth; self-funding with 15.8% FCF yield.Margins contracting and ROIC just 1.9%; RS faded 83 to 62 on concentration.

Selective Medtech / Device BreakoutsLeadingBasing⚡4 buyableImproving10 drivers · 1 pullbacks · 5 watchlist · 0 broken excluded · ⚡4 setups▾

stock-layer pickDXCMDXCM is the durable driver: RS 82, self-funding growth, rev 15.6% and eps 46.2%, only 4.1% off its high and already through pivot (-5.2%). Preferred over hotter cash-burning...

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GKOS$7BGQ CBRS 92 / +10% pivot / -9% high / trend32.3% revenue growth with margins expanding toward breakeven.RS faded 82 to 71 in a 14.7% pullback; still cash-burning (-12.9% operating margin).

BRKR$6BGQ P⚡ 8-EMA pullback · 3.9% risk / RS 92 / +0% pivot / -4% high / trendProfitable (operating margin 7.8%) with expanding margins across life-science analytical tools.Revenue nearly flat (2.1%) and EPS down 120%; RS slipping from 93 to 89.

ITGR$3BGQ MRS 90 / +2% pivot / -2% high / trendStrong leadership (RS 90) trading near 52w high, 1.9% from pivot breakout.Margins contracting at 12.7% op margin; growth quality mixed, eps deeply distorted.

LIVN$3BGQ SF⚡ 50-SMA pullback · 3.1% risk / RS 88 / +3% pivot / -6% high / trendSelf-funding 10.7% revenue growth (3.8% FCF yield), only 0.8% below its 52-week high.Reported EPS collapsed (deeply negative (base-effect figure excluded)) and operating margins are contracting.

CNMD$1BGQ MRS 86 / +6% pivot / -18% highStrong RS 81 near pivot (4.9% away), margins expanding on surgical-volume recovery.Distorted/negative earnings (eps deeply negative (base-effect figure excluded)), thin op margin 0.098, -23.4% from high.

DXCM$25BGQ SFRS 82 / -5% pivot / -4% high / trendEPS up 46.2% with expanding margins and self-funding growth.RS collapsed to 42 from 77; sits 21.7% below 52w high.

BIO$8BGQ SFRS 82 / +4% pivot / -5% highEPS rebounding 142.9% with a 4.4% FCF yield; RS improved 69 to 77.Near-flat 0.7% revenue growth with contracting margins; ROIC just 0.5%.

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UFPT$2BGQ SFRS 66 / +2% pivot / -9% high / trendRevenue up 19.5%, eps 15.4%, self-funding with positive FCF yield 0.038.RS slipped to 60 from 70; thin ROIC 0.032; 15% off high.

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TNDM$1BGQ MRS 79 / +6% pivot / -34% highRS recovering sharply to 79 (from 54); margins expanding off low 2.9% base.Still -34.2% below 52w high; revenue declining -4.2%, negative FCF and ROIC.

ALGN$12BGQ PRS 58 / +9% pivot / -16% highSetting up 1% below pivot with RS improving (60 vs 54) and 5.4% FCF yield.Near-flat 0.9% revenue and EPS growth with low 2.8% ROIC signal demand stagnation.

AHCO$2BGQ PRS 56 / +5% pivot / -20% highMargins expanding with strong 13.8% FCF yield; RS improving (24 to 40) near pivot.EPS deeply negative (-186.7%) and -23.4% off highs; low 1.5% ROIC.

EW$45BGQ SFRS 47 / +4% pivot / -11% high11.2% revenue growth with expanding margins; only 2.2% below its 52-week high.Reported EPS fell 73.7%; RS 67 trails the theme's strongest leaders.

Managed Care / Health-Plan TurnLeadingPulling back⚡5 buyableNew6 drivers · 0 pullbacks · 2 watchlist · 0 broken excluded · ⚡5 setups▾

stock-layer pickUNHUNH is the self-funding bellwether of the turn: RS 87, best top-line among durable names (rev 11.8%), eps -14.9% least-negative, -10.2% off high with a tight 4.2% pivot. Chosen...

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UNH$276BGQ SF⚡ 50-EMA+SMA pullback · inside bar · 2.6% risk / RS 87 / +4% pivot / -10% high / trendAt its 52-week high with 11.8% revenue growth and 5.2% FCF yield.EPS down 14.9% with operating margin compressed to 0.3% amid contracting margins.

MRK$300BGQ PRS 85 / +4% pivot / -4% high / trendImproving relative strength (RS 80, up from 59) with high operating margins (53.3%).Revenue nearly flat (1.3%) with Keytruda patent cliff approaching late-decade.

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MOH$8BGQ MRS 51 / +19% pivot / -20% highRevenue still growing 11.7%; sits within 1.2% of pivot after deep pullback.EPS down 58% with negative operating margin; stock 34.8% below 52-week high.

AI Networking / Optical InterconnectLeadingPulling back⚡2 buyableNewCandidate8 drivers · 0 pullbacks · 0 watchlist · 0 broken excluded · ⚡2 setups▾

stock-layer pickLITETop RS driver (98) in the strongest-breadth theme (47.5, 100% RS>=80), self-funding with rev +52.1% / eps +146.5%. Sits 8.2% under pivot after a -34.2% reset; leadership durable...

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LITE$64BGQ SFRS 98 / +8% pivot / -34% highRevenue +52.1%, EPS +146.5% on AI transceiver demand; RS surged 82 to 98.Still 24.3% below its 52-week high; operating margin thin at 9.7%.

VIAV$10BGQ SFRS 95 / +3% pivot / -39% highRevenue +23.5% with RS 96 as AI/optical network buildouts lift test demand.EPS down 5.7% with margins contracting — growth is not reaching the bottom line.

CSCO$325BGQ SF⚡ 8-EMA pullback · 3.2% risk / RS 90 / +9% pivot / -11% highAI infrastructure orders lift EPS 21% with margins expanding; RS 92, 8.3% to pivot.Mature legacy base: 9% revenue growth and 3.5% ROIC trail AI-networking pure plays.

CRDO$40BGQ SFRS 88 / +16% pivot / -33% highHypergrowth: revenue +205.7%, EPS up sharply (base-effect figure excluded), 35.7% operating margin; only 5% from pivot.Thin 0.6% FCF yield embeds demanding expectations; RS easing slightly (95 vs 96).

COHR$49BGQ MRS 85 / +7% pivot / -40% highEPS up sharply (base-effect figure excluded) with expanding margins on the AI datacom transceiver upcycle; RS 96.Free cash flow negative (-1.2% yield) and growth quality mixed despite the upcycle.

ANET$186BGQ SFRS 84 / +5% pivot / -5% high / trend28.6% revenue growth on AI back-end network buildouts; RS improved from 69 to 82.Margins contracting despite 41.5% operating margin; 15.4% off high with hyperscaler customer concentration.

AI Compute / SemiconductorsLeadingPulling back⚡1 buyableImproving42 drivers · 3 pullbacks · 3 watchlist · 3 broken excluded · ⚡1 setup▾

stock-layer pickMUHighest RS in the theme (99) and self-funding growth with rev +85.5% / eps up sharply (base-effect figure excluded), the strongest fundamentals among the mega-cap drivers. Deep...

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AXTI$3BGQ CBRS 99 / +14% pivot / -58% highRS 99, up from 94, on InP substrate demand for AI optics; margins expanding.Cash-burning with revenue -11.1% and EPS -75.7%; still 45.3% below 52-week high.

TSEM$23BGQ PRS 98 / +6% pivot / -31% highRS 98 and op margin 0.161 expanding; rev +9.1% on specialty-analog demand.Thin 0.01 FCF yield and low 0.023 ROIC; capital-intensive foundry economics.

AEHR$2BGQ CBRS 98 / +27% pivot / -37% highRS 98 held as AI-processor burn-in orders emerge; margins expanding off trough.Revenue -26.4%, EPS -148.6%, -41% operating margin; cash-burning on EV/SiC slump.

MXL$2BGQ MRS 98 / +7% pivot / -48% highRevenue +29.7%, EPS +46.1% recovery with margins expanding on datacenter optical ramp.Still loss-making: -10.9% operating margin, negative ROIC; sits 31.7% below 52-week high.

INTC$312BGQ MRS 97 / +8% pivot / -37% highEPS +98.2% with margins expanding; RS 97 reflects turnaround momentum.Negative FCF yield and ROIC; revenue -0.5% — recovery not yet self-funding.

AAOI$11BGQ CBRS 97 / +9% pivot / -60% highAI datacenter optics demand drives revenue +82.8%; RS jumped 85 to 98, margins expanding.Still unprofitable: -8.6% operating margin, -2.1% FCF yield; cash-burning 30.3% below high.

ICHR$2BGQ CBRS 97 / +31% pivot / -34% highWFE recovery lifts demand; RS 98 and rev +11.6% show momentum re-accelerating.Unprofitable: op margin -6.2%, EPS -136.9%, negative FCF and ROIC; thin-margin subsystem cyclicality.

AMD$400BGQ SFRS 96 / +18% pivot / -19% highAI accelerator demand drives rev +34.3%, eps +164.7%, RS 97, margins expanding.Thin FCF yield 0.01 and ROIC 0.02; intense Nvidia competition, -9.2% off high.

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TXN$196BGQ SFRS 77 / +8% pivot / -17% highRevenue reaccelerating at 13% as analog demand recovers off cyclical trough.Margins contracting and EPS up just 4.8%; thin 1.4% FCF yield.

DIOD$4BGQ SFRS 73 / +7% pivot / -35% highEPS up 49.9% on 13% revenue growth; RS recovering to 72 from 33.Thin 3.4% operating margin and 0.5% ROIC show weak profitability; 30.9% below highs.

POWI$3BGQ MRS 48 / +7% pivot / -33% highRevenue +5.9% with a deep -27.1% pullback offering a re-entry setup.EPS -30.9% with margins contracting and op margin only 9.8%.

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ADI$193BGQ SFRS 78 / +10% pivot / -18% highRev +29.8%, EPS +83.4%, 38% op margins expanding; self-funding growth.Down 12.8% from high, thin 2.4% FCF yield; cyclical analog demand.

AVGO$1.8TGQ SFRS 74 / +2% pivot / -21% highAI demand drives 36.3% revenue and 80.1% EPS growth at 45% operating margins.Shares 20.8% off highs; RS slipped 75 to 70 as margins contract.

NVDA$5.2TGQ SFRS 63 / +7% pivot / -15% highRevenue +70.7% at 65.6% op margin, still expanding, with self-funding FCF.RS stalled at 71, -12% off high, as custom-ASIC and China export risks weigh.

AI Memory / HBM Super-CycleLeadingPulling back⚡1 buyableNewCandidate8 drivers · 0 pullbacks · 0 watchlist · 1 broken excluded · ⚡1 setup▾

stock-layer pickMUThe direct HBM play and top RS name (99), self-funding with rev +85.5% / eps up sharply (base-effect figure excluded). Broad participation (6/8 self-funding) supports durability...

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STX$110BGQ SFRS 98 / +9% pivot / -25% high25.2% revenue growth with expanding margins and 11.9% ROIC on AI storage demand.Cyclical HDD pricing exposure; shares sit 12.5% below their 52-week high.

TER$58BGQ SF⚡ 50-SMA pullback · 7.6% risk / RS 96 / +7% pivot / -25% highHBM test demand momentum: RS jumped 82 to 95 on 13.1% revenue growth.EPS growth of just 4.6% lags revenue; flat margins limit earnings leverage.

LRCX$329BGQ SFRS 94 / +9% pivot / -33% highMemory-capex upcycle: 26.8% revenue and 48.3% EPS growth, RS 96 near highs.Operating margins flat despite growth; memory-capex cyclicality and China export-control exposure.

KLIC$4BGQ PRS 92 / +7% pivot / -34% highRS 95 with margins expanding as HBM-driven advanced-packaging tool demand builds.Revenue still down 1.9% and EPS collapsed (deeply negative (base-effect figure excluded)); recovery not yet in results.

Data-Center Physical Buildout — Cooling & ElectricalsLeadingPulling backImprovingCandidate5 drivers · 1 pullbacks · 2 watchlist · 1 broken excluded▾

stock-layer pickNVTNVT leads a broad, durable theme with RS 88, self-funding growth, rev +29.5% and eps +118.4%. Only 16.7% off its high and 9% to pivot — the strongest blend of leadership...

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BE$39BGQ SFRS 97 / +14% pivot / -41% highRevenue up 37.3% on data-center power demand; RS 98 leads the theme.EPS down 66.7% with near-zero 0.3% FCF yield; profitability lags 37% top-line growth.

PLPC$2BGQ SFRS 92 / +8% pivot / -14% highRevenue up 12.7%, self-funding, on grid and transmission hardware demand; RS 92.EPS down 4.8% with thin 6.8% operating margin and 1.5% ROIC.

POWL$8BGQ MRS 90 / +7% pivot / -36% highEPS up 16.7%, RS 96; strong order demand from data-center electrical buildout.Revenue growth only 5.1% and margins contracting; FCF/ROIC undisclosed.

AEIS$14BGQ SFRS 80 / +5% pivot / -27% highEPS up 169% on 21.4% revenue growth; RS accelerated 44 to 87.FCF yield just 0.5% and ROIC 2.8%; still 21.6% below 52-week high.

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ENS$8BGQ MRS 78 / +10% pivot / -24% highBackup-power demand with margins expanding and RS 92 holding near 52-week highs.EPS down 14.2% and FCF yield negative (-16.4%) on just 3.7% revenue growth.

ATKR$2BGQ PRS 56 / +6% pivot / -19% highGroup-best 5.4% FCF yield; profitable, within 5.7% of pivot on conduit demand.Revenue down 7.2% and EPS down 113.6%; RS fading 88 to 80.

Transports / Freight & LogisticsEmergingPulling back⚡6 buyableImproving7 drivers · 4 pullbacks · 6 watchlist · 2 broken excluded · ⚡6 setups▾

stock-layer pickPBIPBI leads with RS 90 and self-funding growth (eps +172.8%), only -8.1% off high with a modest 5.1% pivot. Chosen over higher-RS ARCB, whose n/a growth-quality fails the...

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XPO$25BGQ PRS 82 / +8% pivot / -13% highRS climbed 62 to 79; profitable with 0.081 op margin, positive FCF.EPS -18.3% with flat revenue (+1%); freight demand pressure, thin ROIC 0.015.

FDX$89BGQ SFRS 80 / +5% pivot / -11% highCost restructuring drives 16.8% EPS growth and expanding margins; RS surged 30 to 64.Still 19.8% below 52-week high; thin 5.6% operating margin and 1.4% ROIC.

KNX$10BGQ PRS 80 / +15% pivot / -16% high9.5% FCF yield with margins expanding off truckload-recession trough.EPS -44.6% and 1.4% operating margin show earnings still depressed by weak truckload rates.

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ODFL$44BGQ PRS 76 / +12% pivot / -16% highBest-in-class 23.3% operating margin endures freight recession; RS firmed 87 to 90.Revenue -5.5%, EPS -11.9%, margins contracting on soft LTL tonnage.

TFII$10BGQ PRS 77 / +16% pivot / -20% high5.5% FCF yield and revenue +3% support continued acquisition-led growth.EPS -17.4% despite revenue growth; thin 6.6% operating margin in weak freight market.

RXO$3BGQ CBRS 63 / +48% pivot / -32% highRevenue +26.2% and EPS +72.7% with margins expanding — strongest growth in group.Still cash-burning: operating margin, FCF yield and ROIC all marginally negative.

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WERN$2BGQ MRS 62 / +27% pivot / -21% highRS 90 reflects positioning for a truckload-cycle upturn despite depressed earnings.EPS down 143.7% with 1.2% operating margin and negative FCF; fundamentals still deteriorating.

LSTR$6BGQ PRS 59 / +23% pivot / -24% highRS 91 within 2.2% of 52-week high; asset-light model stays profitable through downturn.EPS -40% on revenue -1.7%; weak truckload pricing compresses earnings.

UPS$86BGQ PRS 57 / +14% pivot / -14% highOperating margin expanding to 11.2% as cost actions take hold; RS improving (64 to 68).Revenue down 2.4% on soft parcel volumes, including planned Amazon volume glide-down.

MRTN$1BGQ CBRS 54 / +22% pivot / -20% highStrong RS 89 and price near 52-week high, just 4.5% below pivot.Freight recession: rev -8.3%, eps -35.6%, negative op margin and cash-burning.

GLP-1 / Obesity & Large-Cap PharmaMixed / WatchBasing⚡3 buyableNew5 drivers · 4 pullbacks · 2 watchlist · 1 broken excluded · ⚡3 setups▾

stock-layer pickLLYLLY is the core obesity/GLP-1 name with by far the best growth quality here (44.7% rev, 96.0% eps, self-funding). It led recently, is only -8.1% off high and intact, with a 7.2%...

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BMY$119BGQ SFRS 85 / +0% pivot / -0% high / trendHighest FCF yield in group (0.103) with EPS up 178%; RS climbed 34 to 59.Revenue flat (-0.2%) with ROIC just 0.015; patent-cliff exposure pressures legacy franchises.

OGN$2BGQ MRS 84 / +0% pivot / -0% high / trendStrong relative strength (RS 91), trading just 0.6% below its 52-week high.EPS down 78.7% with revenue falling 2.9% and contracting operating margins.

WST$18BGQ P⚡ 50-EMA+SMA pullback · reclaim bar · 2.4% risk / RS 82 / +13% pivot / -12% high / trendRevenue growing 6.3% with expanding margins as GLP-1 injectables lift demand for delivery components.Sluggish EPS growth of 1.6% and low ROIC of 3.4%.

JNJ$575BGQ SFRS 80 / +7% pivot / -7% high / trendSharp RS recovery (42 to 77) with revenue up 6% and EPS up 90.8%.Pulled back 5.8% from highs; low ROIC (3.6%) and ongoing talc litigation overhang.

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LLY$888BGQ SF⚡ 50-EMA+SMA pullback · reversal · 1.7% risk / RS 79 / +7% pivot / -8% high / trendRevenue up 44.7% and EPS up 96% on surging GLP-1 demand.Low FCF yield (1.3%) signals rich valuation amid intensifying GLP-1 competition.

ABBV$368BGQ PRS 75 / +7% pivot / -6% highSkyrizi/Rinvoq ramp drives 8.6% revenue growth, margins expanding; RS climbed 44 to 66.Humira biosimilar erosion pressures profitability; EPS -1.4% and ROIC just 0.04 despite revenue growth.

NVS$297BGQ SFRS 72 / +3% pivot / -6% high / trendRevenue up 8.6% and EPS up 21.6%, with sharply improving relative strength (36 to 67).Down 9.9% from highs with contracting margins and low ROIC (2.8%).

AMGN$189BGQ SFRS 77 / +3% pivot / -3% high / trendObesity pipeline (MariTide) optionality with 10% revenue growth, 0.398 margins; RS jumped 29 to 60.Obesity-trial readout risk; ROIC just 0.05 and price -11.9% below 52-week high.

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BIIB$25BGQ M⚡ 50-EMA+SMA pullback · 3.3% risk / RS 78 / +8% pivot / -8% high / trendHigh FCF yield (9%) with improving relative strength (62 to 73) and expanding margins.EPS down 21.1% with negative operating margin (-2.5%) amid legacy MS franchise erosion.

GSK$117BGQ SFRS 67 / +8% pivot / -16% highEPS up 125.6% and RS surged 32 to 62 on specialty medicine momentum.Margins contracting with thin 0.128 operating margin; -16.3% from 52-week high signals pressure.

Energy / Oil & Gas (E&P + Services)Mixed / WatchBasing⚡6 buyableNew29 drivers · 3 pullbacks · 17 watchlist · 2 broken excluded · ⚡6 setups▾

stock-layer pickOVVOVV pairs leadership (RS 89, only -3.3% off high) with durability (self-funding growth, eps +13.8%) in a broad, emerging theme. Tight to pivot (3.4%) and near new highs, favored...

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CLMT$3BGQ MRS 97 / +2% pivot / -2% high / trendEPS up 85.2% with RS 92 momentum and 2.9% FCF yield.Operating margin negative (-6.1%), revenue down 1.2%, ROIC negative.

NESR$2BGQ M⚡ 50-SMA pullback · 4.8% risk / RS 97 / +9% pivot / -11% high / trendRS 95 (from 78) leadership, 5.9% from pivot, on resilient MENA activity.EPS down 34.2% on 1.7% revenue growth; thin 7.7% operating margin.

OII$4BGQ P⚡ 8-EMA pullback · 4.6% risk / RS 96 / +11% pivot / -10% high / trendStrongest relative strength in group, RS 86 up from 76, near 52w high.Margins contracting at thin 9.8% op margin; modest 4.6% revenue growth and 3.4% ROIC.

BTE$3BGQ PRS 92 / +2% pivot / -15% high / trendExpanding margins (14.8% operating) and 5.3% FCF yield underpin RS 91.Revenue down 72.6%, EPS down up sharply (base-effect figure excluded); ROIC negative (-6.5%).

EFXT$3BGQ SFRS 92 / +10% pivot / -24% highEPS up 188.2% with 6.4% FCF yield; self-funding amid gas-infrastructure demand.Margins contracting on 0.8% revenue growth; ROIC just 3.4%.

APA$14BGQ SF⚡ 100-SMA pullback · reclaim bar · 2.4% risk / RS 91 / +1% pivot / -18% high / trendStrong 0.12 FCF yield, eps +76.1%, expanding margins, self-funding; RS 73 (from 35).Rev -8.4% and low ROIC 0.026; -23.9% below 52w high.

OVV$16BGQ SFRS 89 / +3% pivot / -3% high / trendOutsized 26% FCF yield with EPS up 13.8%; RS 77.Revenue down 4% with contracting margins; ROIC low at 2.2%.

PR$15BGQ PRS 89 / +3% pivot / -6% high / trendSharp RS recovery to 73 from 47; solid 23.1% operating margin on a pullback setup.EPS down -12.5%, margins contracting, low 2.3% FCF yield and 1.5% ROIC.

SM$3BGQ MRS 89 / +5% pivot / -9% high / trendRev +18.1%, RS 87, just 0.4% to pivot.Eps -15.3%, negative FCF yield -0.063, margins contracting.

KOS$1BGQ CB⚡ 100-SMA pullback · reclaim bar · 4.4% risk / RS 89 / +4% pivot / -20% high / trendTop-tier RS 91 (from 89), leading the E&P theme on pure price momentum.Cash-burning: revenue -22.9%, op margin -57%, FCF yield -5.2%, negative ROIC.

Pullbacks - recent leaders in a dip

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COP$150BGQ PRS 78 / +2% pivot / -11% high / trendFCF yield 12.7% with revenue +7.5%; RS improving 46 to 72.EPS -18.7% with margins contracting; 14% below the 52-week high.

AROC$6BGQ SFRS 76 / +11% pivot / -15% highSelf-funding growth: 28.7% revenue, 76% EPS growth, strong 43.2% op margin, RS up to 76.Margins contracting; modest 3.9% FCF yield and 3.1% ROIC on a -10% pullback.

MNR$2BGQ SFRS 67 / +0% pivot / -9% high / trendRevenue +16.9% and self-funding growth; positive 5.5% FCF yield, near pivot.EPS down -42.6% with margins contracting; weak RS 51 and -10.6% off high.

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CRGY$4BGQ SFRS 79 / +2% pivot / -20% highRevenue up 22.1%, EPS up 176.3% with 8.2% FCF yield from acquired production.Thin 5.8% operating margin, 0.4% ROIC, contracting margins; 19.9% below 52-week high.

NOV$7BGQ P⚡ 50-EMA pullback · reversal · 2.3% risk / RS 79 / +9% pivot / -10% highExpanding margins and FCF yield 0.1; RS improved 63 to 70, near pivot.eps -76.4%, rev -1.4%, ROIC -0.022; thin op margin 0.071 signals weak profitability.

TDW$4BGQ SF⚡ 50-EMA pullback · 2.7% risk / RS 79 / +6% pivot / -19% highMargins expanding with 96.6% EPS growth, strong 7.7% FCF yield, RS surged to 69.Deep -20.3% drawdown from 52w high; flat 0.5% revenue growth, modest 3.2% ROIC.

DVN$30BGQ PRS 76 / +2% pivot / -14% highRS improved 40 to 65 over three months with 9.8% FCF yield backing the move.EPS down 8.8% with contracting margins; still 16.4% below 52-week high.

BKR$62BGQ MRS 75 / +4% pivot / -14% high / trendRS surged sharply (22 to 61) as energy theme emerges; momentum re-rating.-19.7% below 52w high and 14% under pivot; fundamentals not provided.

SLB$78BGQ PRS 74 / +7% pivot / -16% highRS 77 and 0.059 FCF yield; near pivot at 8.2%, only -8.7% off high.Rev -1.6%, eps -24.4%, thin op margin 0.15 and low ROIC 0.03.

XPRO$2BGQ PRS 74 / +3% pivot / -15% highRS jumped from 36 to 79 with margins expanding and 4.7% FCF yield.Revenue contracting 6.2% with near-zero ROIC (0.5%) amid soft upstream services spending.

BSM$3BGQ SFRS 72 / +0% pivot / -4% highVery high 53.9% op margin, EPS +11.4%, positive 7.6% FCF yield; near pivot.Revenue down -10.1% and weak RS 42; lowest relative strength in theme.

VTOL$1BGQ SFRS 70 / +3% pivot / -10% highEPS up 34.6% on offshore energy activity; RS improved from 37 to 70.Margins contracting (8.5% operating) with slow 4.2% revenue growth tied to offshore spending cycles.

DMLP$1BGQ PRS 68 / +1% pivot / -5% high / trendHigh 38.7% op margin and positive 9.4% FCF yield; near 52w high, 3.8% to pivot.EPS down -44.7%, revenue -5.4%, margins contracting amid softer commodity prices.

TPL$28BGQ SFRS 65 / +9% pivot / -26% highRevenue up 13.1% with 70.5% operating margins; capital-light model self-funds growth.Laggard RS 40, 30.1% below 52-week high; FCF yield only 1.9%.

WMB$89BGQ SFRS 65 / +7% pivot / -11% highRevenue up 13.7%, EPS up 17.5%; RS jumped 38 to 61, 1.6% to pivot.FCF yield just 0.8% — capital spending leaves minimal free cash despite earnings growth.

KRP$2BGQ PRS 64 / +3% pivot / -5% high / trendRoyalty model yields 42.7% operating margin and 13.3% FCF yield; only 1.2% to pivot.Income depends on commodity prices and operators' drilling pace; revenue growth modest at 7.5%.

RRC$10BGQ SFRS 62 / +0% pivot / -17% highStrong eps growth 149% with self-funding model, 0.138 FCF yield and expanding margins.Weak RS 38 and low ROIC 0.026; sits 19% below 52-week high.

USAC$3BGQ SFRS 55 / +5% pivot / -14% highEPS up 15.1% with 8.8% FCF yield; self-funding growth profile.Margins contracting; ROIC of 3.2% remains thin for a capital-intensive fleet.

Copper — AI / ElectrificationMixed / WatchPulling back⚡2 buyableImproving5 drivers · 0 pullbacks · 1 watchlist · 0 broken excluded · ⚡2 setups▾

stock-layer pickTECKAmong self-funding drivers, TECK sits closest to its high (-15.4%) with the tightest pivot (3.9%) and strongest fundamentals (rev 18.6%, eps up sharply (base-effect figure...

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HBM$10BGQ SFRS 89 / +4% pivot / -29% highEPS up up sharply (base-effect figure excluded) with operating margin expanding to 32.9%; RS jumped 74→91.Still 20.4% below 52-week high and 25.6% under pivot; FCF yield only 2.5%.

SCCO$159BGQ SF⚡ 50-EMA+SMA pullback · 3.1% risk / RS 87 / +8% pivot / -18% highGroup-leading 54.5% operating margin, still expanding; RS surged 29→80 on copper demand.Remains 21.8% below 52-week high, 16% under pivot; FCF yield modest at 2.9%.

TECK$27BGQ SF⚡ 50-EMA pullback · 3.1% risk / RS 84 / +4% pivot / -15% highEPS up up sharply (base-effect figure excluded) on 18.6% revenue growth with operating margin expanding to 21.3%.Thin cash conversion: 1.6% FCF yield and 1.0% ROIC despite the earnings surge.

TGB$2BGQ SFRS 84 / +15% pivot / -27% highOperating margin 45.9% and expanding; RS jumped 27 to 80 on copper demand.EPS swung -132.5%; shares 29% off the 52-week high, 27.1% from pivot.

EROGQ -RS 82 / +2% pivot / -32% highRevenue +68.2% and EPS up sharply (base-effect figure excluded) as Tucumã ramps; operating margins expanding to 43.9%.Still 34% below its 52-week high with RS 67 lagging established theme leaders.

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FCX$97BGQ SFRS 79 / +4% pivot / -13% highEPS +17.8% with 6.7% FCF yield as AI/electrification copper demand firms; RS 80 rising.Margins contracting on only 2.4% revenue growth; ROIC thin at 1.1%.

CybersecurityFadingBasing⚡3 buyableDeteriorating17 drivers · 3 pullbacks · 3 watchlist · 5 broken excluded · ⚡3 setups▾

conditional pickFTNTWith the theme breaking down, FTNT is the durable choice: RS 95, self-funding growth, EPS +7.5% rev +14.2%, and only -4.9% from high versus deep-base leaders like BB (-37.5%) and...

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BB$2BGQ SFRS 96 / +37% pivot / -38% highEPS up 166.5% with expanding margins; RS 96 leads this cybersecurity group.Revenue growth of just 2.4% is anemic; stock sits 19.1% below its 52-week high.

PANW$190BGQ MRS 95 / +11% pivot / -10% high / trendRevenue up 19.5% at $190B scale as platform consolidation drives the cybersecurity theme.EPS down 34.3% and operating margin negative at -6.1%, with margins contracting.

FTNT$57BGQ SFRS 95 / +5% pivot / -5% high / trendRevenue up 14.2% on a 32.8% operating margin — self-funding growth 7.8% from high.Margins contracting and EPS growth of 7.5% lags revenue; RS slipped from 94 to 90.

CRWD$171BGQ MRS 93 / +14% pivot / -12% high / trendFastest grower in the group at 23.2% revenue, EPS up 72.5%, margins expanding.Negative -2.2% operating margin and thin 0.9% FCF yield; 17.9% below its high.

OKTA$21BGQ SF⚡ 21-EMA pullback · reversal · 5.2% risk / RS 93 / +11% pivot / -10% high / trendEPS up 90.7% as margins expand; 3.1% FCF yield supports self-funding growth.Operating margin still thin at 7.3%; stock 15.7% below high with RS slipping to 89.

GCT$2BGQ SFRS 91 / +1% pivot / -16% highStrong 0.104 FCF yield and RS surging 18 to 74 on self-funding growth.Margins contracting with only 11.1% revenue growth; sits 27.8% below highs.

NET$59BGQ M⚡ 8-EMA pullback · 5.0% risk / RS 90 / +4% pivot / -5% high / trendRevenue growing 29.8%; RS accelerating to 81 from 70 three months ago.GAAP-unprofitable: -7.4% operating margin, EPS -29.5%, and near-zero 0.5% FCF yield.

NTCT$2BGQ SF⚡ 50-SMA pullback · 3.2% risk / RS 90 / +4% pivot / -10% highEPS up 122.3% with expanding margins and 9.9% FCF yield; self-funding growth.Revenue growth only 4.9%; cyclical carrier spending caps top-line; ROIC low at 2.8%.

FIVN$1BGQ SFRS 87 / -4% pivot / -5% highStrong RS (91) and profitable operations (op margin 7.3%), near 52w high.Growth quality mixed and margins flat, showing limited operating leverage.

DBX$6BGQ MRS 85 / +3% pivot / -3% highLeading RS 88 at 52w high (-0.6%), healthy 24.9% op margin and cash generation.Revenue declining and margins contracting; mature growth, RS easing 92→88.

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XYZ$38BGQ PRS 74 / +3% pivot / -3% highProfitable with FCF yield 0.065, margins expanding, -4.9% from high.Eps -53.7%, flat rev +0.3%, thin ROIC 0.006.

QLYS$3BGQ SFRS 79 / +16% pivot / -14% highHigh 33.6% operating margin with margins expanding; RS 84 sits near a breakout pivot.RS cooling from 93 to 84 and mixed growth-quality in crowded cyber market.

TENB$2BGQ SFRS 78 / +34% pivot / -25% highMargins expanding with positive 7.4% op margin and EPS up; strong RS (83) near pivot.RS cooling from 94 to 83; -15.3% off 52w high, mixed growth quality.

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DLO$4BGQ SFRS 78 / +0% pivot / -10% highRevenue up 46.6%, EPS up 62.3%, solid margins (18.5%) and FCF yield 9.2%.Margins contracting despite growth; emerging-market FX and take-rate pressure.

KSPI$14BGQ MRS 65 / +4% pivot / -10% high / trendRev +59.1%, op margin 0.31, margins expanding.Eps only +1.2%, soft RS 60, FCF and ROIC unavailable.

RDWR$1BGQ SFRS 40 / +2% pivot / -20% highEPS up 229.3% on expanding margins; cloud-security mix shift now self-funding.RS 69, fading from 72; operating margin still thin at 4.9%.

Consumer Staples / Defensive RotationFadingBasingStable4 drivers · 3 pullbacks · 1 watchlist · 3 broken excluded▾

conditional pickPSMTTop RS in the group (89), tightest structure at -3.0% from high and only 2.6% to pivot, with self-funding growth and real 8.8% revenue growth. Cleaner sustainability profile than...

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PSMT$5BGQ SFRS 89 / +3% pivot / -3% high / trend8.8% revenue growth with expanding margins; RS rising to 86, 3.8% from pivot.Thin 5.1% operating margin and 1.6% FCF yield; Latin American currency exposure.

TGT$57BGQ PRS 87 / +2% pivot / -2% high / trendRS jumped 64 to 79 with margins expanding and 7.2% FCF yield.Revenue shrinking (-0.4%) and EPS down 16.8%; turnaround lacks top-line growth.

FIVE$11BGQ SFRS 84 / +3% pivot / -14% high25.9% revenue and 66% EPS growth; RS rebuilt from 25 to 61.Still 24.2% below 52-week high with contracting margins and 2.7% ROIC.

TBBB$4BGQ CBRS 82 / +2% pivot / -6% high / trend35% revenue growth from rapid store expansion; 0.5% from pivot, RS 80 rising.Cash-burning with negative -1.3% operating margin; expansion not yet profitable.

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KO$333BGQ SFRS 77 / +4% pivot / -4% high / trendEPS up 23.1%; RS improving to 66 as defensive rotation lifts staples; near highs.Revenue growth just 1.9% and margins contracting; low-growth profile despite EPS rebound.

PM$250BGQ SFRS 72 / +9% pivot / -8% high / trendSmoke-free mix shift drives 60.8% EPS growth on 7.3% revenue, self-funding.Margins contracting despite the EPS surge; RS slipped from 66 to 60.

DLTR$23BGQ SFRS 74 / +5% pivot / -11% high / trendEPS up 146.2% with expanding margins and 6.4% FCF yield; defensive trade-down demand supports it.Revenue down 19.7% post-Family Dollar divestiture; ROIC just 3.1% signals weak capital efficiency.

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DG$23BGQ SFRS 67 / +3% pivot / -20% highStrong 10.6% FCF yield with eps +34.9% and expanding margins.Weak, fading RS 54; -22% off highs, low 1.8% ROIC, thin margins.

Defense / Aerospace & DronesFadingBasing⚡5 buyableDeteriorating8 drivers · 5 pullbacks · 6 watchlist · 2 broken excluded · ⚡5 setups▾

conditional pickVVXVVX carries the theme's top RS (93), sits -1.7% from high with a 1.1% pivot, and is self-funding growth with EPS +125.9%. In a mixed-breadth theme it is the highest-RS name still...

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VVX$2BGQ SFRS 93 / +1% pivot / -2% high / trendEPS up 125.9% with 5% FCF yield and expanding margins on steady defense outlays.Thin 4.2% operating margin and 3.7% revenue growth reflect low-margin services work.

DCO$2BGQ CB⚡ 8-EMA pullback · inside bar · 3.1% risk / RS 92 / +10% pivot / -9% high / trendSits at its 52-week high and pivot with RS 91 rising on defense demand.EPS swung -208.1% with -40.3% operating margin; currently cash-burning.

AIR$5BGQ SF⚡ 8-EMA pullback · 4.6% risk / RS 90 / +2% pivot / -5% high / trendRevenue up 16.8%, self-funding; RS strong at 89, just 2.6% off high.Low 0.018 ROIC and 0.017 FCF yield; EPS growth flatters off small base.

ATRO$3BGQ SFRS 90 / +5% pivot / -22% highEPS up 263.8% with expanding margins and self-funding growth as aerospace electronics demand rises.Thin 0.8% FCF yield and 6.1% ROIC despite the earnings surge.

HXL$6BGQ PRS 86 / +8% pivot / -8% high / trendMargins expanding and RS firm at 78; stock already trades above its pivot.Revenue flat (-0.5%) and EPS down 12.7%—recovery thesis not yet in reported numbers.

RAL$5BGQ M⚡ 50-EMA+SMA pullback · inside bar · 2.3% risk / RS 84 / +11% pivot / -13% highHolds near its 52-week high (-0.6%) with a 13.3% operating margin still expanding.Post-spin distorted comps (deeply negative (base-effect figure excluded) revenue print) and missing FCF/ROIC data...

RTX$271BGQ SFRS 81 / +3% pivot / -3% highEPS up 39.7% and RS accelerating sharply, 25 to 59 over three months.Deepest pullback (-15.4% from high) with contracting margins and group-low 1.5% ROIC.

ESLT$43BGQ SF⚡ 50-SMA pullback · 3.1% risk / RS 81 / +3% pivot / -20% high / trendRevenue up 18.4% and EPS up 60.2% on global rearmament; RS jumped 35 to 88.Still 17.6% below its 52-week high with thin 1.4% FCF yield.

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GE$325BGQ SFRS 76 / +2% pivot / -6% high / trendRevenue up 18.6%, EPS up 35.6%; group-high 18.5% operating margin, 0.6% from pivot.Margins flagged contracting and 2.1% FCF yield prices in continued flawless execution.

HEI$40BGQ SFRS 70 / +2% pivot / -4% high / trendRevenue up 16.1%, EPS up 25.2%, strong 0.221 op margin, self-funding.Margins contracting; rich large-cap at $40B with low 0.018 FCF yield.

DRS$12BGQ SF⚡ 50-EMA+SMA pullback · reversal · 2.8% risk / RS 71 / +7% pivot / -9% high / trendEPS up 31.6% on 12.8% revenue growth with expanding margins; RS rose 56 to 76.ROIC of just 3% and a thin 2.4% FCF yield leave little valuation cushion.

SARO$9BGQ MRS 57 / +3% pivot / -15% highMargins expanding, eps up sharply (base-effect figure excluded), rev +15.8% on strong aftermarket MRO demand.Thin op margin 0.093, mixed growth-quality; -12.7% from high, below pivot.

MRCY$5BGQ MRS 76 / +12% pivot / -24% highRS rose 84 to 90 with 7% revenue growth and positive 1.1% FCF yield.Margins contracting: -4.6% operating margin, negative ROIC, EPS down 3.7%.

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LMT$141BGQ PRS 75 / +2% pivot / -16% highElevated defense budgets support steady demand; op margins expanding with 0.044 FCF yield.EPS declined -3.5% and sits -20.7% off 52w high amid program execution pressures.

CW$27BGQ SFRS 71 / +9% pivot / -10% highRS surged 54 to 78; self-funding rev 12.1%, eps 22.1%, expanding margins.Low FCF yield 0.022 and ROIC 0.035 despite $27B mcap; near highs.

GD$91BGQ SFRS 71 / +4% pivot / -4% high / trendGroup-best 6.5% FCF yield alongside 10.1% revenue and 13.3% EPS growth.Margins contracting and 13.3% EPS growth trails faster-growing defense peers; RS only 60.

EMBJ$13BGQ SFRS 66 / +2% pivot / -15% highRevenue growing +18.9% as defense/aerospace demand builds; self-funding growth at pivot.Thin 8% op margin contracting; flat EPS (-0.5%), -21% below 52w high.

WWD$23BGQ SFRS 62 / +19% pivot / -20% highRS jumped 34 to 75; eps growth 33%, expanding margins, near pivot (1.8%).Thin FCF yield 0.017 and modest ROIC 0.03; 9.8% off 52-week high.

VSEC$5BGQ MRS 44 / +5% pivot / -19% highStrong aviation aftermarket demand drives 29.7% revenue growth with expanding op margins.Negative FCF yield (-0.003) and thin ROIC (0.015) signal heavy reinvestment; mixed growth-quality.

Gold & Precious MetalsBreaking DownPulling back⚡1 buyableNew1 drivers · 0 pullbacks · 0 watchlist · 4 broken excluded · ⚡1 setup▾

conditional pickCGAUCGAU is the theme's sole qualifying name: RS 91, self-funding growth, rev +11.9% and eps up sharply (base-effect figure excluded). Sitting right at its pivot (-0.3%) despite...

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CGAU$4BGQ SF⚡ 8-EMA pullback · 4.2% risk / RS 91 / -0% pivot / -19% highEPS up sharply (base-effect figure excluded) on gold-price strength; operating margins expanding to 22.6%.Revenue growth of 11.9% trails gold peers; ROIC low at 2.5%.

Industrials & Construction / AI-Infrastructure CapexFadingPulling back⚡2 buyableDeteriorating12 drivers · 10 pullbacks · 18 watchlist · 2 broken excluded · ⚡2 setups▾

conditional pickIESCIESC leads on RS (95), sits only -7.4% off its high with a tight 4.1% pivot, and pairs 16.5% rev / 56.1% eps growth with self-funding quality. In a breaking-down theme, the...

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IESC$11BGQ SFRS 95 / +4% pivot / -7% high / trendEPS +56.1% on 16.5% revenue from data-center electrical work; only 5.4% off high.Margins flat; residential housing exposure offsets data-center strength.

XMTR$2BGQ CBRS 95 / +24% pivot / -19% highRevenue growing 25.9% with margins expanding toward profitability; RS 92 leadership intact.Still cash-burning: operating margin -4.6%, EPS -18.4%, and 18.9% below 52-week high.

FIX$56BGQ SFRS 92 / +4% pivot / -17% highData-center mechanical demand: EPS +97.8% on 29.5% revenue growth with expanding margins.FCF yield of 2.1% implies premium valuation reliant on sustained data-center capex.

STRL$14BGQ SFRS 91 / +4% pivot / -41% highData-center site-development backlog drives 17.7% revenue growth; RS persistent at 97.Margins contracting — 13.2% EPS growth lags revenue; stock 16.3% below 52-week high.

GRC$2BGQ SF⚡ 8-EMA pullback · doji · 3.0% risk / RS 90 / +5% pivot / -12% high / trendLeadership RS 91, just 0.1% to pivot; EPS +31.4% with self-funding growth.Flat margins (op 0.149) and modest rev +3.4%; low ROIC 0.024 limits compounding.

CYD$2BGQ SF⚡ 8-EMA pullback · 4.0% risk / RS 90 / +4% pivot / -23% highGenset-driven acceleration: revenue +42.3%, EPS +35.6%, margins expanding, RS 93 up from 82.Thin profitability — 2.1% operating margin, 0.9% ROIC — and 13.1% off highs; China-cycle exposure.

AGX$10BGQ SFRS 89 / +6% pivot / -29% highGas-fired power-plant construction backlog; EPS +59.6%, 5.6% FCF yield, margins expanding.Lumpy project-driven EPC revenue; 21.2% below high and 26.9% from pivot.

HLIO$2BGQ SFRS 89 / +8% pivot / -18% highLiquid-cooling coupling demand; margins expanding, EPS +23.9%; just 3.4% off 52-week high.Core hydraulics markets sluggish — 4.1% revenue growth and low 1.4% ROIC.

HWM$101BGQ SFRS 87 / +5% pivot / -4% high / trendEPS +31.6% on 26.6% operating margins, expanding; gas-turbine demand; RS jumped 55 to 74.Rich valuation — 1.4% FCF yield — leans on aerospace build rates and turbine demand persisting.

ENOV$1BGQ CBRS 87 / +5% pivot / -15% highRevenue up up sharply (base-effect figure excluded) with margins expanding; RS steady at 89, only 1.6% to pivot.Deeply cash-burning (op margin -95.1%), EPS collapsed; FCF and ROIC unknown.

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CAT$370BGQ PRS 78 / +12% pivot / -24% highData-center power demand lifts engine segment; RS 91 rising from 86, only 3.5% to pivot.EPS down 14.7% with contracting margins; core construction/mining cycle soft, revenue only +4.3%.

ROK$45BGQ PRS 78 / +4% pivot / -4% high / trendProfitable (17.4% op margin), within 1.7% of pivot on US manufacturing-capex recovery.Modest 5.8% revenue growth with flat margins; RS slipping 82 to 77 as momentum cools.

RRX$14BGQ SFRS 70 / +6% pivot / -17% highEPS +42.4% and 0.06 FCF yield; RS improving 62 to 74 toward pivot.Revenue still -1.6% with flat margins; very low ROIC 0.01 signals weak returns.

CR$11BGQ SFRS 71 / +8% pivot / -7% high / trendSelf-funding growth, eps +21.9% on 17.5% op margins, near 52-week high.Margins contracting; low ROIC 0.022 and thin FCF yield 0.021 limit reinvestment.

WTS$10BGQ SFRS 74 / +2% pivot / -12% high / trendEPS +17% with margins expanding; already trading through pivot (-0.6%) on rising RS 74.Modest 0.03 FCF yield and 0.036 ROIC leave little cushion if capex demand slows.

GTES$7BGQ SFRS 74 / +4% pivot / -4% high / trendEPS +32.4% with 0.062 FCF yield, the group's highest; self-funding growth.Revenue growth only 1% — earnings gains lack top-line support; RS flat at 70.

NPO$6BGQ PRS 79 / +9% pivot / -20% highRS 92 and within 1% of 52w high; 9% revenue growth on AI capex.EPS -45.4% with thin 0.022 FCF yield and 0.01 ROIC; weak earnings quality.

Watchlist - exposed and intact

TickerCapGQSetupWhy it mattersWatch item

CMI$85BGQ PRS 78 / +11% pivot / -14% highData-center backup-power demand supports the AI-infrastructure capex thesis.Revenue down 1.3%, EPS down 27.2%, margins contracting.

IEX$15BGQ PRS 78 / +6% pivot / -6% high / trendWithin 0.8% of pivot and 52-week high; 20.7% operating margins, 3.7% FCF yield.EPS -3.6% with contracting margins; modest 5.8% growth limits earnings fuel.

CSW$5BGQ SFRS 76 / -4% pivot / -5% highRevenue up 16.9% with a self-funding growth profile and 3.5% FCF yield.RS collapsed to 39 from 60; EPS down 9.9% with margins contracting.

NDSN$16BGQ SFRS 74 / +2% pivot / -3% high / trendEPS +20.4% on 7.4% revenue growth at 0.266 operating margin; 0.7% from pivot.Margins contracting off the 0.266 operating-margin base; ROIC just 0.03.

AME$54BGQ PRS 72 / +1% pivot / -1% high / trendMargins expanding from a 0.262 operating-margin base; sits 0.2% from pivot, RS rising 56 to 66.Slowest growth in group — EPS +7.9% on 6.6% revenue; RS 66 lags peers.

FLS$11BGQ SFRS 72 / -2% pivot / -18% highEPS +22.4% with margins expanding; RS surged 38 to 75 in three months.Negative ROIC (-0.144) and slow 3.8% revenue growth; still 17.8% below 52-week high.

PH$124BGQ SFRS 72 / +2% pivot / -6% highEPS up 13.5% with 21.1% operating margins expanding; RS surged to 65 from 38.Revenue growth of only 2.8% leaves earnings reliant on margins; still 12.5% off high.

DCI$10BGQ SFRS 70 / +2% pivot / -16% highEPS +24.8% self-funding; near pivot (0.9%), filtration levered to AI-infra.Rev only +4.4%, margins flat; RS 60 lagging leadership.

ITW$78BGQ PRS 70 / +5% pivot / -5% highHigh op margin 0.265 expanding, ROIC 0.063; sits right at pivot.Rev +0.9% flat, EPS -10.5% declining; RS 60 middling.

DY$12BGQ SFRS 67 / +4% pivot / -29% highRev +17.9%, EPS +20.7% on fiber/AI-datacenter buildout; margins expanding.-22.7% from high, 17.4% to pivot; customer-concentration and capex-cycle risk.

EME$36BGQ SFRS 66 / +5% pivot / -16% highStrong rev +16.6%, EPS +30.9%, ROIC 0.071 on AI-infrastructure capex demand.Deep -18.4% pullback from high, 10.5% below pivot; thin op margin 0.118.

ITT$19BGQ PRS 66 / +2% pivot / -13% highRevenue up 8.5% with operating margins expanding to 17%.EPS down 3.2% despite growth; RS stalled at 57, 14.8% off the high.

EMR$81BGQ PRS 65 / +2% pivot / -9% high / trendOperating margin 19.9% and expanding with 3.9% FCF yield amid automation capex demand.EPS down 2.7% on sluggish 3.6% revenue growth; 13.4% below 52-week high.

SPXC$11BGQ SFRS 63 / +2% pivot / -12% highRevenue +14.2% and EPS +18% self-funded; RS improved 66 to 77 on data-center cooling demand.Sits 7.6% off high and 7.3% below pivot; ROIC only 0.026.

FELE$4BGQ PRS 62 / +11% pivot / -10% high / trendSteady 5.4% revenue growth with 3.7% FCF yield; sits 0.6% below pivot.EPS down 16.4% with contracting 10.2% operating margin; RS slipping to 66 from 68.

Neocloud / AI Datacenter Operators (GPU-rental + servers)FadingPulling backStableCandidate2 drivers · 0 pullbacks · 1 watchlist · 3 broken excluded▾

conditional pickHPEBoth drivers show RS 97, but HPE is self-funding and profitable (rev +23.2%, eps +7.1%) and sits just 3.8% from pivot, versus NBIS which is cash-burning. Sustainability...

Drivers - leading now

TickerCapGQSetupWhy it mattersWatch item

HPE$73BGQ SFRS 97 / +4% pivot / -26% high / trendAI-server demand drives 23.2% revenue growth with 8.2% FCF yield and expanding margins.Thin 7% operating margin and 1.2% ROIC reflect low-margin server mix; 24.9% off high.

NBIS$35BGQ CBRS 97 / +7% pivot / -36% highRevenue up up sharply (base-effect figure excluded) with margins expanding as GPU capacity comes online; RS 97.Deeply unprofitable (-103% operating margin), cash-burning buildout; 21.1% below its 52-week high.

Watchlist - exposed and intact

TickerCapGQSetupWhy it mattersWatch item

CORZ$6BGQ MRS 75 / +11% pivot / -32% highHPC-hosting mix shift lifts EPS 133.7% with margins expanding to 16.3% operating.Revenue shrinking 37.5% as mining winds down; FCF still negative during conversion.

AI Power Generation / IPPs / Uranium & NuclearBreaking DownPulling backStable0 drivers · 1 pullbacks · 0 watchlist · 5 broken excluded▾

conditional pickGEVGEV is the theme's only intact name: self-funding growth, eps +218.7%, down 17.2% from high after leading. RS 74 is sub-leadership and it sits 15.2% below pivot, so this is a...

Pullbacks - recent leaders in a dip

TickerCapGQSetupWhy it mattersWatch item

GEV$267BGQ SFRS 74 / +15% pivot / -17% highEPS up 218.7% with margins expanding on data-center power-equipment demand; RS 67 to 83.Thin 5.5% operating margin with wind-segment drag; shares 22.1% below 52-week high.

Earnings Calendar

Scheduled reports over the next 6 weeks (2026-07-31 → 2026-09-11) for the companies featured in this issue. Descriptive only: dates can shift and consensus estimates are not a forecast.

149upcoming reports8theme picks73leaders (drivers)68pullbacks / watchlist

DateTickerThemeRoleEst. EPS

Fri Jul 31IESCIndustrials & Construction / AI-Infrastructure CapexPick4.83

Fri Jul 31NVTnVent Electric plcData-Center Physical Buildout — Cooling & ElectricalsPick1.16

Fri Jul 31OGNGLP-1 / Obesity & Large-Cap PharmaLeader0.90

Fri Jul 31SMFGFinancials / BanksLeader0.44

Fri Jul 31ABBVAbbVie Inc.GLP-1 / Obesity & Large-Cap PharmaPullback3.61

Fri Jul 31ETNEaton Corporation plcData-Center Physical Buildout — Cooling & ElectricalsPullback3.07

Fri Jul 31GTESIndustrials & Construction / AI-Infrastructure CapexPullback0.42

Mon Aug 03VVXV2X, Inc.Defense / Aerospace & DronesPick1.44

Mon Aug 03AEISAdvanced Energy Industries, Inc.Data-Center Physical Buildout — Cooling & ElectricalsLeader2.21

Mon Aug 03ICHRIchor Holdings, Ltd.AI Compute / SemiconductorsLeader0.31

Mon Aug 03KOSKosmos Energy Ltd.Energy / Oil & Gas (E&P + Services)Leader0.09

Mon Aug 03MUFGFinancials / BanksLeader0.34

Mon Aug 03POWLData-Center Physical Buildout — Cooling & ElectricalsLeader1.47

Mon Aug 03STRLIndustrials & Construction / AI-Infrastructure CapexLeader5.01

Mon Aug 03UFPTSelective Medtech / Device BreakoutsPullback2.31

Mon Aug 03VRTXVertex Pharmaceuticals IncorporatedBiotech Laggard-to-Leader (small/mid-cap)Pullback4.74

Mon Aug 03BSMEnergy / Oil & Gas (E&P + Services)Watch0.23

Mon Aug 03CRGYEnergy / Oil & Gas (E&P + Services)Watch0.59

Mon Aug 03TDWEnergy / Oil & Gas (E&P + Services)Watch0.46

Mon Aug 03WMBThe Williams Companies, Inc.Energy / Oil & Gas (E&P + Services)Watch0.50

Tue Aug 04AMDAdvanced Micro DevicesAI Compute / SemiconductorsLeader1.61

Tue Aug 04ANETArista Networks, Inc.AI Networking / Optical InterconnectLeader0.89

Tue Aug 04BIOSelective Medtech / Device BreakoutsLeader1.75

Tue Aug 04BRKRSelective Medtech / Device BreakoutsLeader0.38

Tue Aug 04HSBCFinancials / BanksLeader2.24

Tue Aug 04MRKMerck & Co.GLP-1 / Obesity & Large-Cap PharmaLeader-0.26

Tue Aug 04SYREBiotech Laggard-to-Leader (small/mid-cap)Leader-0.76

Tue Aug 04TSEMAI Compute / SemiconductorsLeader0.76

Tue Aug 04WDCAI Memory / HBM Super-CycleLeader3.30

Tue Aug 04XMTRIndustrials & Construction / AI-Infrastructure CapexLeader0.16

Tue Aug 04ACADBiotech Laggard-to-Leader (small/mid-cap)Pullback0.06

Tue Aug 04AMGNGLP-1 / Obesity & Large-Cap PharmaPullback5.62

Tue Aug 04AROCEnergy / Oil & Gas (E&P + Services)Pullback0.45

Tue Aug 04CATCaterpillar Inc.Industrials & Construction / AI-Infrastructure CapexPullback6.22

Tue Aug 04EXPDTransports / Freight & LogisticsPullback1.69

Tue Aug 04NPOIndustrials & Construction / AI-Infrastructure CapexPullback2.32

Tue Aug 04QLYSCybersecurityPullback1.78

Tue Aug 04ROKIndustrials & Construction / AI-Infrastructure CapexPullback3.38

Tue Aug 04RYTMBiotech Laggard-to-Leader (small/mid-cap)Pullback-0.81

Tue Aug 04AHCOSelective Medtech / Device BreakoutsWatch0.17

Tue Aug 04AMEIndustrials & Construction / AI-Infrastructure CapexWatch1.99

Tue Aug 04ATKRData-Center Physical Buildout — Cooling & ElectricalsWatch1.55

Tue Aug 04CMICummins Inc.Industrials & Construction / AI-Infrastructure CapexWatch7.21

Tue Aug 04DVNEnergy / Oil & Gas (E&P + Services)Watch1.40

Tue Aug 04EMREmerson Electric Co.Industrials & Construction / AI-Infrastructure CapexWatch1.68

Tue Aug 04HRMYBiotech Laggard-to-Leader (small/mid-cap)Watch0.96

Tue Aug 04USACEnergy / Oil & Gas (E&P + Services)Watch0.28

Tue Aug 04VTOLEnergy / Oil & Gas (E&P + Services)Watch0.84

Wed Aug 05LLYEli Lilly and CompanyGLP-1 / Obesity & Large-Cap PharmaPick6.06

Wed Aug 05UTHRBiotech Laggard-to-Leader (small/mid-cap)Pick7.06

Wed Aug 05APAAPA CorporationEnergy / Oil & Gas (E&P + Services)Leader1.90

Wed Aug 05CVSCVS HealthManaged Care / Health-Plan TurnLeader1.86

Wed Aug 05EROEro Copper Corp.Copper — AI / ElectrificationLeader0.74

Wed Aug 05EXTRAI Networking / Optical InterconnectLeader0.29

Wed Aug 05KLICKulicke and Soffa Industries, Inc.AI Memory / HBM Super-CycleLeader1.06

Wed Aug 05LIVNSelective Medtech / Device BreakoutsLeader1.09

Wed Aug 05NETCybersecurityLeader0.27

Wed Aug 05PREnergy / Oil & Gas (E&P + Services)Leader0.58

Wed Aug 05SMSM Energy CompanyEnergy / Oil & Gas (E&P + Services)Leader1.96

Wed Aug 05SNDKSandisk CorporationAI Memory / HBM Super-CycleLeader34.67

Wed Aug 05TGBCopper — AI / ElectrificationLeader0.08

Wed Aug 05VIAVAI Networking / Optical InterconnectLeader0.30

Wed Aug 05BCRXBiotech Laggard-to-Leader (small/mid-cap)Pullback0.15

Wed Aug 05DIODAI Compute / SemiconductorsPullback0.63

Wed Aug 05POWIAI Compute / SemiconductorsPullback0.32

Wed Aug 05RRXRegal Rexnord CorporationIndustrials & Construction / AI-Infrastructure CapexPullback2.58

Wed Aug 05WTSIndustrials & Construction / AI-Infrastructure CapexPullback3.33

Wed Aug 05XYZCybersecurityPullback0.87

Wed Aug 05CWDefense / Aerospace & DronesWatch3.61

Wed Aug 05PCVXBiotech Laggard-to-Leader (small/mid-cap)Watch-2.06

Wed Aug 05TPLEnergy / Oil & Gas (E&P + Services)Watch2.18

Wed Aug 05VIRBiotech Laggard-to-Leader (small/mid-cap)Watch0.33

Wed Aug 05VSECDefense / Aerospace & DronesWatch0.93

Thu Aug 06AAOIApplied Optoelectronics, Inc.AI Compute / SemiconductorsLeader0.02

Thu Aug 06ANLBiotech Laggard-to-Leader (small/mid-cap)Leader-0.13

Thu Aug 06DBXCybersecurityLeader0.74

Thu Aug 06DCODucommun IncorporatedDefense / Aerospace & DronesLeader0.98

Thu Aug 06EFXTEnergy / Oil & Gas (E&P + Services)Leader0.31

Thu Aug 06ENOVIndustrials & Construction / AI-Infrastructure CapexLeader0.85

Thu Aug 06ESTASelective Medtech / Device BreakoutsLeader-0.34

Thu Aug 06FIVNCybersecurityLeader0.68

Thu Aug 06GCTCybersecurityLeader0.90

Thu Aug 06HWMIndustrials & Construction / AI-Infrastructure CapexLeader1.24

Thu Aug 06ITGRSelective Medtech / Device BreakoutsLeader1.38

Thu Aug 06NTCTCybersecurityLeader0.38

Thu Aug 06OSCROscar Health, Inc.Managed Care / Health-Plan TurnLeader0.40

Thu Aug 06RLMDBiotech Laggard-to-Leader (small/mid-cap)Leader-0.21

Thu Aug 06SLSBiotech Laggard-to-Leader (small/mid-cap)Leader-0.04

Thu Aug 06COPConocoPhillipsEnergy / Oil & Gas (E&P + Services)Pullback2.90

Thu Aug 06DNLIBiotech Laggard-to-Leader (small/mid-cap)Pullback-0.51

Thu Aug 06MNREnergy / Oil & Gas (E&P + Services)Pullback0.36

Thu Aug 06RXOTransports / Freight & LogisticsPullback0.04

Thu Aug 06SARODefense / Aerospace & DronesPullback0.32

Thu Aug 06ASNDBiotech Laggard-to-Leader (small/mid-cap)Watch1.71

Thu Aug 06BMRNBiotech Laggard-to-Leader (small/mid-cap)Watch0.94

Thu Aug 06DMLPEnergy / Oil & Gas (E&P + Services)Watch—

Thu Aug 06ITTIndustrials & Construction / AI-Infrastructure CapexWatch1.92

Thu Aug 06PHParker-Hannifin CorporationIndustrials & Construction / AI-Infrastructure CapexWatch8.27

Thu Aug 06SRRKBiotech Laggard-to-Leader (small/mid-cap)Watch-0.84

Thu Aug 06TNDMSelective Medtech / Device BreakoutsWatch-0.34

Fri Aug 07CLMTEnergy / Oil & Gas (E&P + Services)Leader0.07

Fri Aug 07CYDIndustrials & Construction / AI-Infrastructure CapexLeader2.46

Fri Aug 07KRPEnergy / Oil & Gas (E&P + Services)Watch0.23

Mon Aug 10HLIOIndustrials & Construction / AI-Infrastructure CapexLeader0.80

Mon Aug 10ORKABiotech Laggard-to-Leader (small/mid-cap)Leader-0.51

Mon Aug 10IDYABiotech Laggard-to-Leader (small/mid-cap)Pullback-1.06

Mon Aug 10EMBJDefense / Aerospace & DronesWatch0.61

Mon Aug 10KSPICybersecurityWatch2.84

Tue Aug 11LITEAI Networking / Optical InterconnectPick2.97

Tue Aug 11ATROAstronics CorporationDefense / Aerospace & DronesLeader0.59

Tue Aug 11CLYMBiotech Laggard-to-Leader (small/mid-cap)Leader-0.22

Tue Aug 11ERASBiotech Laggard-to-Leader (small/mid-cap)Leader-0.11

Tue Aug 11ESLTElbit Systems Ltd.Defense / Aerospace & DronesLeader3.69

Wed Aug 12ANROBiotech Laggard-to-Leader (small/mid-cap)Leader-0.73

Wed Aug 12COHRAI Networking / Optical InterconnectLeader1.62

Wed Aug 12CSCOAI Networking / Optical InterconnectLeader1.17

Wed Aug 12NBISNebius Group N.V.Neocloud / AI Datacenter Operators (GPU-rental + servers)Leader-0.61

Wed Aug 12TBBBBBB Foods Inc.Consumer Staples / Defensive RotationLeader-0.16

Wed Aug 12ENSEnerSysData-Center Physical Buildout — Cooling & ElectricalsWatch2.83

Thu Aug 13FBRXBiotech Laggard-to-Leader (small/mid-cap)Leader-0.88

Thu Aug 13STTKBiotech Laggard-to-Leader (small/mid-cap)Leader-0.14

Thu Aug 13DLOCybersecurityWatch0.18

Fri Aug 14AVBPBiotech Laggard-to-Leader (small/mid-cap)Pullback-0.98

Mon Aug 17PANWPalo Alto NetworksCybersecurityLeader0.98

Tue Aug 18MRCYMercury Systems, Inc.Defense / Aerospace & DronesPullback0.39

Tue Aug 18ZTOTransports / Freight & LogisticsWatch0.50

Wed Aug 19NESREnergy / Oil & Gas (E&P + Services)Leader0.35

Wed Aug 19TGTConsumer Staples / Defensive RotationLeader2.28

Wed Aug 19ADIAI Compute / SemiconductorsWatch3.34

Wed Aug 19NDSNIndustrials & Construction / AI-Infrastructure CapexWatch3.09

Mon Aug 24HEIDefense / Aerospace & DronesPullback1.50

Tue Aug 25BMOFinancials / BanksPick2.65

Tue Aug 25OKTAOkta, Inc.CybersecurityLeader0.96

Wed Aug 26FIVEConsumer Staples / Defensive RotationLeader1.33

Wed Aug 26DCIIndustrials & Construction / AI-Infrastructure CapexWatch1.12

Wed Aug 26DYIndustrials & Construction / AI-Infrastructure CapexWatch4.70

Wed Aug 26NVDANVIDIAAI Compute / SemiconductorsWatch2.08

Thu Aug 27CMFinancials / BanksLeader1.79

Thu Aug 27RYFinancials / BanksLeader2.87

Thu Aug 27TDFinancials / BanksLeader1.72

Thu Aug 27DGConsumer Staples / Defensive RotationWatch2.00

Tue Sep 01CRWDCrowdStrike HoldingsCybersecurityLeader0.29

Wed Sep 02HPEHewlett Packard EnterpriseNeocloud / AI Datacenter Operators (GPU-rental + servers)Pick0.92

Wed Sep 02CRDOAI Networking / Optical InterconnectLeader1.16

Wed Sep 02DLTRConsumer Staples / Defensive RotationPullback1.11

Thu Sep 03AGXIndustrials & Construction / AI-Infrastructure CapexLeader2.68

Thu Sep 03CIENAI Networking / Optical InterconnectLeader1.73

Thu Sep 03DELLAI Compute / SemiconductorsLeader4.89

Thu Sep 03AVGOBroadcom Inc.AI Compute / SemiconductorsWatch3.22

The honest, return-measured read flips the "narrow mega-cap melt-up on deteriorating breadth" story on its head.

Market Read

Theme Radar

Buyable Now

Setup Radar

Leading Theme Spotlights

Financials / Banks

What is driving it

Why now

Sustainability

Leaders to inspect

Recent leaders in pullback

Intact watchlist / exposed names

Biotech Laggard-to-Leader (small/mid-cap)

What is driving it

Why now

Sustainability

Leaders to inspect

Recent leaders in pullback

Intact watchlist / exposed names

Selective Medtech / Device Breakouts

What is driving it

Why now

Sustainability

Leaders to inspect

Recent leaders in pullback

Intact watchlist / exposed names

Managed Care / Health-Plan Turn

What is driving it

Why now

Sustainability

Leaders to inspect

Intact watchlist / exposed names

AI Networking / Optical Interconnect

What is driving it

Why now

Sustainability

Leaders to inspect

AI Compute / Semiconductors

What is driving it

Why now

Sustainability

Leaders to inspect

Recent leaders in pullback

Intact watchlist / exposed names

AI Memory / HBM Super-Cycle

What is driving it

Why now

Sustainability

Leaders to inspect

Data-Center Physical Buildout — Cooling & Electricals

What is driving it

Why now

Sustainability

Leaders to inspect

Recent leaders in pullback

Intact watchlist / exposed names

Transports / Freight & Logistics

What is driving it

Why now

Sustainability

Leaders to inspect

Recent leaders in pullback

Intact watchlist / exposed names

Theme Picks

Financials / Banks

Biotech Laggard-to-Leader (small/mid-cap)

Selective Medtech / Device Breakouts

Managed Care / Health-Plan Turn

AI Networking / Optical Interconnect

AI Compute / Semiconductors

AI Memory / HBM Super-Cycle

Data-Center Physical Buildout — Cooling & Electricals

Transports / Freight & Logistics

GLP-1 / Obesity & Large-Cap Pharma

Energy / Oil & Gas (E&P + Services)

Copper — AI / Electrification

Cybersecurity

Consumer Staples / Defensive Rotation

Defense / Aerospace & Drones