The AI Build-Out's Worst Week, and Where the Money Went

1. The Read

The index drifted a half-percent lower into the Fed while the AI build-out lanes had their worst week of the quarter — and oil, defence and biotech quietly took the money.

Start with what barely happened. The S&P 500 proxy closed $757.39, down 0.46%, RSI 44.4 and about a point under its 20-day average. The Nasdaq proxy closed $704.54, down 0.65%. Neither is in trouble — the S&P proxy is 5.9% above its 200-day line and the Nasdaq proxy 6.6%. The small-cap proxy is the one worth watching: $285.14, down 0.96%, RSI 33.9, and 3.3% under its own 20-day, which is the widest gap of the three. Volatility did not participate — the index closed at 17.2 in its normal band, up 0.6% on the day. This is a market marking time before Wednesday, not one bracing for it.

Underneath, the rotation was violent and one-directional. The neocloud and AI-hosting complex closed down 3.7% at the median with nine of ten names red, and the one-day number understates it badly: that lane is down 16.1% over the week, and every single member is down between 7.9% and 18.9% over five sessions. CoreWeave gave up 18.9%, Cipher 18.5%, TeraWulf 18.9%, Galaxy 17.6%, Applied Digital 17.3%. Six of the ten now trade below their 200-day averages, with Applied Digital 27.5% below and TeraWulf 19.5% below. Nebius is the exception that proves the size of the move — still 30.5% above its 200-day and still down 15.0% on the week. This is no longer a wobble in a hot lane; it is a sustained repricing of the companies that rent AI capacity, and it has been running for a week.

Crypto sold the same way and harder on the day — down 4.9% at the median with every one of the eleven tracked names red. Coinbase fell 10.1%, Circle 11.4%. But the month still reads positive: Bitcoin is down 3.2% on the day and up 17.3% over thirty days, still 7.7% above its 200-day. That combination — a hard single session inside an intact monthly uptrend — is a different animal from the neocloud chart, and the two should not be read as one story simply because they sold together.

Consumer-facing names were the third leg down: retail closed 2.5% lower with all twenty-two names red, consumer down 2.2% with fourteen of sixteen red. Nothing in the news explains that as a group; it reads as positioning ahead of the rate decision.

The money went somewhere, and it went to real assets and to medicine. Canadian oil and gas closed up 3.3% with six of seven names green, and the energy complex behind it moved with them — the oil fund gained 3.3% on the day and 10.8% over the week, the Brent fund 10.1%. Geopolitical names added 1.9%. Biotech's capital-cycle cohort rose 2.1% with twenty-three of thirty-seven green, led by Schrödinger up 12.1% on 3.9 times average volume and Tempus up 10.7%; Illumina added 6.8% and now sits 43.9% above its 200-day. Cybersecurity extended Monday's melt-up, up 1.3% with ten of eleven green, and the weekly numbers there are extraordinary — SentinelOne up 20.8%, Zscaler up 19.7% over five sessions.

One quiet deterioration deserves naming because nothing else will flag it: the high-yield credit proxy closed at $78.38 with RSI 25 and a strong-down trend, 2.1% below its 200-day. Credit has been grinding lower while equities chop sideways. That gauge was at RSI 27 a session ago. It is the only thing on the board that has gone one way, every day, without a bounce.

On the board itself, the reclaim attempt that matters is Meta, which closed $670.24, its second consecutive finish above the $665 level the desk has been watching since July — the third attempt at that line this year, after the first two failed. Micron pulled back 7.3% on the week to $927.60 and now sits 6.3% below its own written trigger at $989.96, which is a watch rather than an action. Palo Alto and the high-yield proxy both rose to three of five convergence bells; neither reaches the four-bell threshold that would make it a candidate.

What the news adds is mostly about Wednesday. Coverage of the Federal Reserve runup was the single most-corroborated story of the session across nine independent sources, and it is the reason the tape looks like it is holding its breath. Two supply stories sit underneath the energy move: the U.S. energy secretary told broadcasters that a Saudi pipeline closure will last days rather than longer, and — six months after the strikes on Iran — Amazon's cloud arm says it still cannot restore service to its Bahrain and UAE facilities. That second item is the more interesting one for the AI-hosting lane, because it is a live demonstration that regional capacity, once lost, does not come back quickly. Separately, a widely-followed semiconductor analyst published that AMD's MI355X is closing the performance and cost gap against the incumbent in agentic inference — a claim about the economics of the exact capacity the neocloud lane rents out, landing in the same week that lane fell 16%.

Watch Wednesday's Federal Reserve decision, the week's only scheduled macro event and the thing the whole tape is positioned around; then Friday's quarterly options expiration. For the AI-hosting lane specifically, the level that matters is whether the six members now under their 200-day averages can reclaim them on any bounce, or whether the remaining four join them. For credit, watch whether the high-yield proxy's RSI 25 produces a bounce or a break — an oversold gauge that refuses to bounce is the more informative outcome.

Extended analysis

Market pulse · 7D

Leaders and laggards

close Sep 15, 2026

366 advancing 731 declining 58% above the 200-day Color is 7-day price direction, not a buy or sell call.

Leaders

top 7D gainers

NTSK+21.7%S+20.8%ZS+19.7%SWKS+19.4%ECO+18.3%SDGR+16.1%

Laggards

top 7D losers

BRUN-27.9%ALM-26.6%ASPI-25.1%SMR-24.6%IMSR-24.5%ARMP-24.4%

2. What Changed Since the Last Brief

Screen CROSSINGS between the previous brief's close ( Sep 14, 2026 ) and this one — a name appears only on the session it crossed, not for as long as it stays there. Every name carries its before → after.

New oversold (22) — ENVA RSI 42.3 → 21.2, IONS RSI 30.1 → 24.1, ARWR RSI 38.9 → 25.3, DNLI RSI 30.5 → 26.1, 5347.KL RSI 33.8 → 26.9, RH RSI 31.9 → 26.9, GEE RSI 31.7 → 27.2, KRKNF RSI 31.2 → 27.9, BEP RSI 30.7 → 28, AS RSI 31.3 → 28.2, DECK RSI 32.5 → 28.5, SBUX RSI 33.2 → 28.5, BIPC RSI 31.4 → 28.8, BYND RSI 30.1 → 28.8, HRL RSI 30 → 28.8, ATEX RSI 30.9 → 29.3, +6 more.

New overbought (22) — DINO RSI 69.9 → 76.3, CRGY RSI 69.1 → 75.3, SHEL RSI 69 → 75, SM RSI 66.7 → 73.3, LPG RSI 69.8 → 72.9, MTDR RSI 67.6 → 72.6, COP RSI 65.2 → 72, CAI RSI 63.9 → 71.7, WCP.TO RSI 65.9 → 71.7, APA RSI 64.6 → 71.6, PBR-A RSI 68.1 → 71.6, XOP RSI 64.2 → 71.4, SWKS RSI 61.5 → 71.1, CRAK RSI 67.8 → 71, RVTY RSI 59.3 → 70.8, SDGR RSI 61.2 → 70.7, +6 more.

Golden crossings (2) — AR -0.03% → 0.14%, CRM -0.39% → 0.45%.

Death crossings (9) — CRSP 0.26% → -0.09%, CW 0.45% → -0.24%, DGXX 0.26% → -0.26%, DTE 0.13% → -0.15%, INDI 0.26% → -0.53%, MCHP 0.49% → -0.06%, NXPI 0.22% → -0.29%, RBC 0.22% → -0.28%, RIVN 0.49% → -0.06%.

New monsters (14) — MAAS 63.4% → 69%, MRVI 45.9% → 49.6%, MU 47.7% → 47.5%, TENB 33.7% → 44.9%, AMD 41.7% → 44.1%, GEO 40.4% → 41.7%, SWKS 23.2% → 39.6%, RVTY 24.6% → 35.8%, WCP.TO 29.5% → 33.4%, FTRE 17.8% → 33.2%, GRDN 28.5% → 32.4%, DT 27.9% → 32.2%, EC 27.8% → 31.1%, HAFN 28.2% → 30%.

Newly near a 52-week high (28) — CVI -7.19% → -0.72% from high, TMO -5.16% → -0.87% from high, FFIV -5.4% → -0.95% from high, DK -5.91% → -1.28% from high, SDGR -9.86% → -1.94% from high, S -5.59% → -1.96% from high, ADPT -7.78% → -2.41% from high, FANG -5.15% → -2.48% from high, SWKS -14.13% → -2.49% from high, DVN -5.65% → -2.62% from high, IMO -5.46% → -2.93% from high, MEOH -6.05% → -3.42% from high, BTE -6.16% → -3.54% from high, BDX -5.26% → -3.7% from high, PARR -6.12% → -3.94% from high, XOM -6.42% → -4.02% from high, +12 more.

Newly in an entry zone (2) — CME $275.09 · <$280, GOOGL $344.98 · $340 watch → buy the SMA20 reclaim (~$363).

3. Focus List

The quantum complex (IONQ, RGTI, QBTS, QUBT, LAES, XNDU) — all red, all between 15.8% and 36.8% below their 200-day averages. This group has been sold as one for a month.

SparkTake

MSFT $496.91 56 +0.2% +0.6% +0.3% strong-up -1.7%, RSI 55.7, 15.2% above its 200-day, and back on the board today.

TSLA $356.58 50 -0.1% -3.1% +4.2% weak-up weak-up · downtrend

NVDA $212.17 45 -3.0% -6.0% -5.8% weak-down +0.6% on the day but -6.0% on the week; 7.3% above its 200-day with RSI 45. Flat-to-soft while the lane it supplies falls apart.

AAPL $331.34 61 +3.8% +4.8% +8.3% strong-up strong-up · uptrend

GOOGL $344.98 52 +1.1% +2.0% -0.3% weak-down -1.3%, barely above its 200-day at +2.3% and RSI 51.6; the weakest long-term cushion in the mega-cap group.

AMZN $248.42 41 -3.7% -3.3% -5.4% weak-down weak-down · pullback

NET $327.23 61 +10.6% +15.1% +3.6% strong-up strong-up · uptrend

ARM $241.83 44 -2.4% -7.5% -13.5% weak-down weak-down · pullback

NTR $78.72 62 +3.3% -2.4% +15.4% strong-up +2.2%, RSI 62, 13.3% above its 200-day, and riding the food-security bid that lit up again today.

MU $927.60 47 -3.0% -7.3% -4.5% strong-up +0.4% to $927.60, -7.3% on the week, still 47.5% above its 200-day. The written trigger at $989.96 is 6.3% away.

SNDK $1530.90 48 -3.4% -11.9% -6.7% strong-up -1.4%, -11.9% on the week, but still 46.2% above its 200-day. The memory complex is giving back froth, not trend.

OUST $32.79 38 -9.4% -12.5% -32.7% weak-down weak-down · pullback

IONQ $37.05 42 -7.2% -8.4% -19.9% strong-down strong-down · collapse

RGTI $15.09 43 -5.0% -4.5% -19.8% strong-down strong-down · collapse

QBTS $16.41 41 -7.2% -7.1% -22.5% strong-down strong-down · collapse

QUBT $7.84 43 -4.2% -4.6% -13.0% strong-down strong-down · collapse

INFQ $12.67 50 -3.2% -7.3% -1.5% weak-up weak-up · downtrend

XNDU $7.80 27 -20.6% -18.7% -32.4% strong-down strong-down · collapse

HQ $13.20 43 -18.4% -18.2% -22.3% neutral up 27.7% on the day and still down 18.2% on the week; a violent bounce inside a downtrend, and with under a year of price history there is no long-term average to judge it against yet.

ARQQ $18.27 43 -10.6% -19.1% -25.0% down up 12.2%, also inside a bad week (-19.1%) and a worse month (-25.0%); trades 5.5% under its 200-day.

LAES Reported 09-11 $2.30 38 -6.6% -6.1% -23.6% strong-down strong-down · collapse

PL $16.02 22 -18.2% -10.1% -35.1% strong-down RSI 22.2 and 41.0% below its 200-day. Deeply oversold, deeply broken; those are not the same thing and only the second one is a verdict.

ARGX $979.76 49 -4.0% -2.7% +15.1% strong-up strong-up · uptrend

ILMN $222.29 60 +4.1% +5.3% +16.4% strong-up the quiet winner: +6.8% on the day, +16.5% on the month, RSI 60, and 43.9% above its 200-day. Nothing broken here.

SHOP $129.86 42 -8.9% -3.2% -15.8% down -3.0% and now 0.7% *below* its 200-day, the first time it has been on the wrong side of that line in this stretch.

The desk's takes cover 11 of 25 names; the rest show the mechanical tape state.

4. Sector Scorecard

Canadian oil and gas — up 3.3%, six of seven green, with the oil complex up 10.8% on the week behind it. The clearest bid on the board. Cybersecurity — up 1.3%, ten of eleven green, extending a week in which SentinelOne gained 20.8% and Zscaler 19.7%. Two double-digit-green weeks in one lane is not a defensive rotation.

ETF tape · 42 funds

The desk's curated ETF read — one fund per lane it tracks, not every fund on the watchlists — grouped by what the fund is exposed to, and where each closed on the issue date. The big number and the tile's shade are that session's move (1D); 7D and 30D are the trailing windows behind it, and RSI is the 14-day reading (above 70 is stretched, below 30 washed out). Shades near flat stay gray — a ±0.25% day is not a color.

FundsAssessment

Crypto 43–57 inflow +21.3% IBIT GBTC down 4.9%, eleven of eleven red, but a monthly gain still intact (Bitcoin +17.3% over thirty days, 7.7% above its 200-day). A hard day inside an uptrend.

Food Security 47–64 inflow +12.2% — up 1.0% with nine of ten green. The thirty-day rank still reads fading, so this is a one-day re-rate the monthly view cannot see yet.

Canadian OG 43–72 inflow +10.9% — —

Trace Iran War Second And Third Order Effects 45–80 inflow +10.4% — —

Hard Assets 25–57 inflow +6.5% IBIT GBTC GLD —

Cybersec 44–69 inflow +6.1% — —

Biotech Capital Cycle 34–75 inflow +5.4% XBI up 2.1%, twenty-three of thirty-seven green. Schrödinger +12.1% on 3.9× volume and Tempus +10.7% led it; this lane has been leading for a month and is still accelerating.

Volume Setups 33–76 inflow +4.8% USO —

Trace Glp1 Manufacturing 30–67 inflow +4.7% — —

Ark 40–59 inflow +4.7% ARKK ARKW ARKG —

Geopolitical 24–76 inflow +4.7% USO GLD SLV —

Healthcare Scan 32–80 inflow +4.6% — —

IBB 19–75 inflow +4.2% — —

Healthcare 32–80 inflow +3.7% — —

Government Compute 45–69 inflow +3.7% — —

Energy 31–82 inflow +3.7% — —

Mag7 41–72 inflow +3.6% MAGS —

Biotech 38–67 inflow +3.2% XBI IBB —

Watchlist n/a inflow +2.7% — —

Tech 41–72 inflow +2.7% XLK —

Cloud SAAS 46–69 inflow +2.5% WCLD CLOU SKYY —

Cloud ETFS 55–57 inflow +2.5% WCLD IGV CLOU —

Faang 41–72 inflow +2.2% — —

Thebuildout Lithium Battery Metals 32–55 inflow +2.1% — —

Escalation 33–68 neutral +1.4% — —

Macro Commodities 32–76 neutral +1.1% USO GLD SLV —

Copper 41–45 neutral +1.1% COPX —

Tech Insider Buys 30–72 neutral +0.7% — —

Biotech Scan 19–67 neutral +0.3% XBI IBB —

Adtech 41–71 neutral +0.0% — —

Consumer Staples 26–54 neutral -0.1% — —

Thebuildout Space Data Centers Orbital Compute 41–60 neutral -0.3% — —

Trace Lng Liquefaction Shipping And Regasification 30–52 neutral -0.3% — —

Financials 33–64 neutral -0.5% — —

ETF Ideas 25–61 neutral -0.8% QQQM QQQ VOO —

Peptide Economy 32–54 neutral -0.8% — —

Bargain Bin 30–72 neutral -1.6% — —

Chemicals 33–56 neutral -1.7% — —

AI 31–72 neutral -2.0% SMH BOTZ ROBO —

Thebuildout Nand Flash Memory 41–53 outflow -2.1% — —

Lazarus 33–62 outflow -2.1% — —

Thebuildout Data Center Switch Nic Vendors 32–61 outflow -2.8% — —

AI Infra 36–53 outflow -3.3% SMH —

Thebuildout Autonomous Vehicles Self Driving 33–70 outflow -3.3% — —

Thebuildout Humanoid Robots Embodied AI 33–70 outflow -3.3% — —

Thebuildout Specialty Electronic Gases 33–42 outflow -3.5% — —

Defensive 29–68 outflow -3.8% — —

Watching 37–61 outflow -3.8% — —

Thebuildout AI Storage Data Pipeline 32–61 outflow -4.3% — —

Thebuildout Nuclear Energy Data Centers 23–72 outflow -4.7% — —

Memory 37–53 outflow -4.8% DRAM DISK —

China Tech 32–46 outflow -4.9% KWEB FXI —

Thebuildout Grid Infrastructure Transmission 30–45 outflow -5.1% — —

War Sensitivity 27–76 outflow -5.2% COPX JETS USO —

Thebuildout Renewable Energy Hyperscaler Ppas 23–56 outflow -5.3% — —

Thebuildout AI Data Center Operators Neoclouds 36–72 outflow -5.7% — —

Thebuildout Dram Memory 40–53 outflow -6.1% — —

Semis 32–71 outflow -6.1% SMH SOXX —

CPU Shortage Supply Chain 30–54 outflow -6.3% SMH —

Livestock Disease 20–65 outflow -6.5% — —

Thebuildout High Speed Pcbs Server Networking 41–45 outflow -6.7% — —

EV Clean Energy 25–58 outflow -6.8% LIT TAN ICLN —

Web Cloud 42–61 outflow -6.8% SKYY —

Consumer 28–61 outflow -6.9% — —

Thebuildout Optical Transceivers Modules 30–55 outflow -7.0% — —

Thebuildout Custom AI Silicon Hyperscaler Asics 27–72 outflow -7.0% — —

Thebuildout Data Center Networking Silicon 30–70 outflow -7.1% — —

Thebuildout AI Sensors Perception Hardware 34–70 outflow -7.3% — —

AI Infrastructure 28–64 outflow -7.4% SMH —

Thebuildout Connector High Speed Interconnect 30–49 outflow -7.4% — —

Retail 17–59 outflow -7.8% — down 2.5% with all twenty-two names red, and consumer down 2.2% alongside it. No news explains the group move; it reads as rate positioning.

Thebuildout Semiconductor Fab Construction Engineering 41–52 outflow -8.1% — —

Cultural Thesis 29–50 outflow -8.3% — —

Thebuildout Industrial Robotics Automation 33–45 outflow -8.5% — —

Thebuildout Racks Chassis Mechanical Infrastructure 35–61 outflow -9.0% — —

Thebuildout Trailing Edge Logic Specialty Foundries 34–57 outflow -9.2% — —

Electricity 23–71 outflow -9.3% — —

Thebuildout Data Center Thermal Management 28–75 outflow -9.3% — —

Travel Leisure 19–46 outflow -9.5% JETS —

Alt Managers 23–42 outflow -9.7% — —

Airlines 35–41 outflow -10.0% JETS —

Robotics 29–54 outflow -10.2% BOTZ ROBO —

Thebuildout China AI Semiconductor Stack 27–53 outflow -10.3% — —

Thebuildout Natural Gas Turbines Dc Power 30–71 outflow -10.3% — —

Thebuildout Data Center Power Semiconductors 34–47 outflow -10.6% — —

Thebuildout Ups Energy Storage Data Centers 30–50 outflow -10.7% — —

Nuclear Fuel Cycle 32–46 outflow -10.7% URA URNM —

Thebuildout Semiconductor Ip Licensors 27–46 outflow -11.0% — —

Thebuildout Advanced Packaging 2d3d Leaders 27–70 outflow -11.1% — —

Thebuildout Semiconductor Bonding Interconnect Materials 32–44 outflow -11.1% — —

AI Power 25–58 outflow -11.1% WGMI —

Thebuildout Eda Software 27–43 outflow -11.2% — —

Thebuildout Data Center Fiber High Speed Cabling 30–55 outflow -11.2% — —

Thebuildout Fuel Cells Alternative Dc Power 30–58 outflow -11.5% — —

Defense Contractors 24–46 outflow -11.7% — —

Spacex S1 Supply Chain 22–58 outflow -11.8% ARKX —

Grid Buildout 29–48 outflow -11.8% — —

Thebuildout Transformers Grid Interconnect 36–44 outflow -11.9% — —

Supply Chain Traces 25–59 outflow -11.9% — —

Thebuildout Ems Contract Electronics Manufacturing 34–49 outflow -11.9% — —

Thebuildout Power Distribution Pdus Busways 34–46 outflow -11.9% — —

Thebuildout Co Packaged Optics CPO 27–60 outflow -12.2% — —

Thebuildout Glass Core Panel Level Packaging 34–50 outflow -12.8% — —

Thebuildout Package Substrate Interposer Ecosystem 27–57 outflow -13.2% — —

Humanoid Robotics 34–46 outflow -13.8% BOTZ —

Neoclouds 38–49 outflow -13.9% — down 3.7% today and 16.1% on the week, nine of ten red. The lane's worst five sessions of the quarter, and six members have now lost their 200-day averages. Treat any single-name bounce here as noise until the lane stops making lower lows together.

Thebuildout Specialty Gases Process Chemicals 32–42 outflow -14.2% — —

Thebuildout Lithography Equipment 34–44 outflow -14.4% — —

Thebuildout Metrology Inspection 34–67 outflow -14.5% — —

Thebuildout HBM Memory 27–70 outflow -14.5% — —

Space 22–55 outflow -14.8% ARKX —

Thebuildout Deposition Equipment 34–37 outflow -15.1% — —

Thebuildout Advanced Packaging Equipment 32–45 outflow -15.6% — —

Thebuildout Cmp Slurries Consumables 34–42 outflow -15.8% — —

Nearline Storage 37–45 outflow -16.6% DISK —

Thebuildout Etch Equipment 32–42 outflow -16.7% — —

Thebuildout Power Supplies Psu Power Shelves 34–44 outflow -16.9% — —

Quantum Computing 27–50 outflow -17.5% CQTM QTUM WQTM —

WFE Test Metrology 32–44 outflow -18.1% — —

Thebuildout Semiconductor Test Burn In Equipment 42–44 outflow -18.1% — —

Drone Defense 22–53 outflow -19.2% — —

Optical Supply Chain 33–55 outflow -19.8% LAZR —

The desk's assessments cover 5 of 122 lanes. 2 authored assessments matched no lane (canadian oil and gas, cybersecurity) — kept in the chapter text above.

5. The Wild & Whacky

HQ up 27.7% in a session — and still down 18.2% on the week. Both numbers describe the same five days.
Enova down 23.4% on 6.8 times average volume with no lane on file to explain it, on a day the broad index moved less than half a percent.
Axon fell 9.8% on 3.7 times volume and filed a shelf registration the same session. The tape and the filing arrived together; the drone-defence lane it belongs to closed up 0.1%, which means this was the name, not the group.
Circle down 11.4% and graded a blindside — the financials lane it sits in closed down 0.2%.
Skyworks up 13.6% on the day and 19.4% on the week while the semiconductor group it belongs to moved 0.6%.

6. What I'd Tell a Friend

The market is doing nothing in front of the Fed, and the nothing is hiding a real rotation. Money left the companies that rent AI capacity — that lane is down 16% in five sessions and half of it has lost its long-term average — and went into oil, defence-adjacent names, biotech and security software. If you own the build-out, the level to watch is whether the four members still above their 200-day averages hold them; if they go, the lane has repriced rather than corrected.

Two things are worth more attention than they are getting. High-yield credit closed at RSI 25 and has ground lower every session without a bounce, which is the kind of signal that looks like nothing until it doesn't. And the oil bid — up almost 11% in a week — now has two supply stories behind it rather than one.

The one thing to watch: Wednesday's Federal Reserve decision. Everything on this board is positioned for it, and Friday's quarterly expiration will amplify whatever it produces.

7. The Front Page

Monster Watch · 150 of 1110 tracked names

MRNA+146% vs 200d TXG+144% vs 200d IOVA+127% vs 200d ABCL+113% vs 200d MMED+108% vs 200d DELL+104% vs 200d TWST+104% vs 200d CDNA+102% vs 200d CHRN+94% vs 200d AMLX+90% vs 200d

Sector Rotation Radar · 122 themes

Flow means 30-day relative strength versus SPY, not dollars moving: Inflow beat SPY by more than 2 points, Outflow trailed by more than 2, and Neutral stayed inside that band.

Crypto Inflow +18.8% 30D Crypto: BTC, ETH, SOL, major alts (via yfinance -USD tickers), spot ETFs (IBIT, GBTC, ETHE, BITO), crypto equities (MSTR, COIN, miners), crypto ETF (BITQ) Food Security Inflow +9.8% 30D Food security — geopolitical energy shock cascade play. Fertilizer (NTR Nutrien, MOS Mosaic, CF Industries), farm equipment (DE Deere), grain trading (ADM Archer-Daniels-Midland, BG Bunge Global — added 2026-05-10, $24B… Canadian OG Inflow +8.4% 30D Canadian oil & gas — ATH (Athabasca), TVE (Tamarack Valley), WCP (Whitecap), BTE (Baytex), GTE (Gran Tierra). Theo Loveday picks. EWC (Canada ETF) and XLE (Energy sector) as benchmarks. NNRG (Ninepoint Energy Fund, Eric… Trace Iran War Second And Third Order Effects Inflow +8.0% 30D Second- and third-order Iran-war exposures across shipping, insurance, pharmaceutical inputs, rare earths, and fertilizer. Research trace from 2026-04-12 with 1 unanimous and 3 strong-convergence findings. Hard Assets Inflow +4.1% 30D The debasement / safe-haven lane: what bids when trust in paper falls, and what is being sold to fund it. Crypto core (BTC-USD, ETH-USD) + spot BTC ETFs (IBIT, GBTC) + BTC-proxy equities (MSTR, COIN); gold and silver… Cybersec Inflow +3.6% 30D Cybersecurity & Networking - firewall/SASE (FTNT, PANW — PANW absorbed CYBR via 2025 acquisition), endpoint (CRWD, S), zero-trust (ZS, OKTA), edge/CDN (NET), embedded/automotive QNX + cybersec (BB BlackBerry — surfaced… Biotech Capital Cycle Inflow +3.0% 30D AI-bio platforms + lab-tools/consumables + CROs — biotech capital-cycle / IPO-window-levered picks-and-shovels (perspective: biotech-capital-cycle) Volume Setups Inflow +2.3% 30D Stocks in established uptrends that remain near a volume shelf and are showing constructive participation. Refreshed on demand and merged across runs. Trace Glp1 Manufacturing Inflow +2.3% 30D GLP-1 / peptide manufacturing supply chain — from research-trace blind test (2026-04-12) + research-picks refresh (2026-05-05). HPLC purification (WAT 3/3 unanimous), chromatography resins (DHR/Cytiva 3/3), injectable… Ark Inflow +2.2% 30D ARK Invest ETFs - tracking Cathie Wood's funds Geopolitical Inflow +2.2% 30D Geopolitical risk watchlist - defense contractors (LMT/RTX/NOC/GD/LHX/BA), oil producers (XOM/CVX/OXY/COP/SLB/HAL/DVN/EOG — XOM absorbed PXD/Pioneer via 2024 acquisition), energy ETFs (USO/UNG/XLE/OIH/XOP), safe havens… Healthcare Inflow +2.2% 30D Healthcare sector scan - Medical devices (SYK, ISRG, MDT, DXCM, ABT), pharma (PFE, MRK, LLY, GILD, AMGN, BIIB, VRTX, MRNA), healthcare services (JNJ, UNH, CVS, GRDN specialty pharmacy), lab/diagnostics (TMO), life… IBB Inflow +1.8% 30D Biotechnology cohort spanning large-cap therapeutics, rare disease, gene editing, diagnostics, life-science tools, and CROs. Healthcare Inflow +1.3% 30D Healthcare/Pharma/Medical Devices - Medical devices (SYK, ISRG, MDT, DXCM, ABT), pharma (PFE, MRK, LLY, GILD, AMGN, BIIB, VRTX, MRNA), healthcare services (JNJ, UNH, CVS), lab/diagnostics (TMO), life sciences software… Government Compute Inflow +1.3% 30D Federal IT and mission-software contractors spanning data platforms, consulting, cybersecurity, and defense intelligence. Energy Inflow +1.2% 30D Energy - data center power (BE, EOSE, TAC, CEG, GEV, TLN), nuclear (CEG), solar (FSLR, ENPH), utilities (NEE). Overlaps with ai-infra for power plays. Mag7 Inflow +1.1% 30D Magnificent 7 - The seven largest US tech companies Biotech Inflow +0.8% 30D Biotech - pharma innovation (LLY), lab tools (TMO), mRNA (MRNA), gene editing (CRSP, NTLA, VRTX), immunotherapy (IBRX) Watchlist Inflow +0.3% 30D Tech Inflow +0.3% 30D Big Tech Cloud SAAS Inflow +0.1% 30D Cloud/SaaS survivors - AI monetization plays. Profitable leaders + high-growth candidates. Cloud ETFS Inflow +0.1% 30D Cloud ETFs - contrarian SaaS thesis. AI accelerates SaaS, survivors will consolidate. Faang Inflow -0.3% 30D FAANG - Facebook (Meta), Apple, Amazon, Netflix, Google Thebuildout Lithium Battery Metals Inflow -0.3% 30D TheBuildout · Lithium & Battery Metals — their curated supply-chain list (https://thebuildout.ai/lists/lithium-battery-metals), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the… Escalation Neutral -1.0% 30D Escalation scenario watchlist — Gulf infrastructure strike / Iran retaliation plays. US LNG exporters (LNG/CQP/VG), industrial gas/helium (LIN/APD), NGL midstream (TRGP/EPD/ET/OKE), nat gas (UNG/FCG), LNG shipping… Macro Commodities Neutral -1.3% 30D Macro & commodities - oil (USO/BNO), natgas (UNG), gold (GLD/GDX/GDXJ/GDRZF), silver (SLV/SIL), copper (COPX), agriculture (DBA/WEAT/CORN/SOYB/AGRO), specialty chemicals (CE), uranium (URA), dollar (UUP), euro (FXE),… Copper Neutral -1.3% 30D Copper miners and broad copper funds tracking electrification, grid, construction, and data-center demand. Tech Insider Buys Neutral -1.8% 30D Tech-centric insider buying monitor. Combines our tech universe tickers with Finviz insider buying discovery. Goal: find tech names where insiders are putting their own money in — the strongest conviction signal. Run… Biotech Neutral -2.1% 30D Biotech scan - broader universe for opportunity discovery. ETFs (XBI, IBB, IBBQ), Large cap pharma (ABBV, GILD, AMGN, LLY, VRTX, REGN), GLP-1 (NVO, LLY), mRNA (BNTX, MRNA), gene editing (CRSP, BEAM, EDIT, NTLA),… Adtech Neutral -2.4% 30D Ad-tech lane: independent SSP/DSP (MGNI PUBM TTD), performance/open-web (APP CRTO TBLA), verification (DV), data (ZETA), CTV (ROKU MNTN). Added 2026-08-06 on user request; IAS excluded (Novacap take-private, delisted… Consumer Staples Neutral -2.6% 30D Consumer staples - Johnson & Johnson, Procter & Gamble, Coca-Cola, PepsiCo, Colgate, Clorox, Mondelez, General Mills. Recession-proof dividend plays. BALL = Ball Corp aluminum packaging (KO/PEP customer supply-chain… Thebuildout Space Data Centers Orbital Compute Neutral -2.7% 30D TheBuildout · Space Data Centers & Orbital Compute — their curated supply-chain list (https://thebuildout.ai/lists/space-data-centers-orbital-compute), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Trace Lng Liquefaction Shipping And Regasification Neutral -2.7% 30D LNG supply-chain bottlenecks across liquefaction, shipping, and regasification. Research trace from 2026-04-12 with 2 unanimous and 2 strong-convergence findings. Financials Neutral -2.9% 30D Financials - Banks/Investment firms (JPM, BAC, GS, MS, BLK), brokers (SCHW, HOOD), insurance (AMP, PGR, MET, BDN), fintech (FIS, FISV), card-network (COF — absorbed Discover/DFS via 2025 acquisition), exchanges (CME),… ETF Ideas Neutral -3.2% 30D ETF Ideas - Index (QQQM, QQQ, VOO, VTI), 3x Leveraged (TQQQ, SOXL, SPXL, TECL — paper-book legal instruments only; the full exempt set lives in config/avoid-instruments.json), Inverse (SOXS — degen Rule 6, data-only),… Peptide Economy Neutral -3.3% 30D Peptide / GLP-1 economy — principals + next-gen pipeline + consumer/distribution layer. Surfaced 2026-05-05 as a coverage gap: no focused lens existed despite GLP-1s being the largest pharma run of the past 18 months.… Bargain Bin Neutral -4.0% 30D Bargain Bin - Great companies at bad prices. 70 quality mega/large-caps filtered for oversold conditions (RSI < 30, below SMA). The scan finds which ones are currently on sale. Sectors: big tech, SaaS, healthcare,… Chemicals Neutral -4.1% 30D Chemicals & specialty materials — industrial cycle, energy input costs, diversified chemical producers. AI Neutral -4.4% 30D AI scan - full universe. ETFs (SMH semis, BOTZ robotics/AI, ROBO robotics, AIQ global AI). Big Tech (NVDA, AMZN, MSFT, GOOGL, META, TSLA — TSLA for FSD/Optimus/Dojo AI exposure), Chips (AMD, AVGO, MRVL, ARM, SMCI, QCOM,… Thebuildout Nand Flash Memory Outflow -4.5% 30D TheBuildout · NAND Flash Memory — their curated supply-chain list (https://thebuildout.ai/lists/nand-flash-memory), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the free-tier… Lazarus Outflow -4.6% 30D Fallen-quality WATCH list (NOT buys): former leaders down 40-80% held in quarantine until they prove a trend reversal — the 'Lazarus signal' (pop -> flag -> breakout / life pouring in). Entry only on confirmation, never… Thebuildout Data Center Switch Nic Vendors Outflow -5.2% 30D TheBuildout · Data Center Switch & NIC Vendors — their curated supply-chain list (https://thebuildout.ai/lists/data-center-switch-nic-vendors), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR… AI Infra Outflow -5.8% 30D AI Infrastructure - hyperscalers (AMZN), GPUs (NVDA), lithography (ASML), power generation (TAC — TransAlta, Canadian IPP: hydro/wind/solar/battery/gas, NOT nuclear; label corrected 2026-06-19 from 'nuclear'), foundry… Thebuildout Autonomous Vehicles Self Driving Outflow -5.8% 30D TheBuildout · Autonomous Vehicles & Self-Driving — their curated supply-chain list (https://thebuildout.ai/lists/autonomous-vehicles-self-driving), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Thebuildout Humanoid Robots Embodied AI Outflow -5.8% 30D TheBuildout · Humanoid Robots & Embodied AI — their curated supply-chain list (https://thebuildout.ai/lists/humanoid-robots-embodied-ai), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines… Thebuildout Specialty Electronic Gases Outflow -6.0% 30D TheBuildout · Specialty & Electronic Gases — their curated supply-chain list (https://thebuildout.ai/lists/specialty-electronic-gases), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of… Defensive Outflow -6.2% 30D Defensive/Value - ETFs (XLP consumer staples, XLU utilities). Telecom (T, VZ), consumer staples (WMT, MCD, COST, SBUX, TGT), food/protein (HRL, TSN, PPC), industrial (ECL), home improvement (HD, LOW). Rotation… Watching Outflow -6.2% 30D Watching/Learning - curious but not trading. KOPN added 2026-05-10 from @JasonL_Capital 2026-05-06 'under $10' tweet (reference_jasonl_capital_kopn_check.md). Kopin Corporation, $3.97 microcap. Claimed: MicroLED… Thebuildout AI Storage Data Pipeline Outflow -6.7% 30D TheBuildout · AI Storage & Data Pipeline — their curated supply-chain list (https://thebuildout.ai/lists/ai-storage-data-pipeline), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the… Thebuildout Nuclear Energy Data Centers Outflow -7.1% 30D TheBuildout · Nuclear Energy for Data Centers — their curated supply-chain list (https://thebuildout.ai/lists/nuclear-energy-data-centers), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR… Memory Outflow -7.3% 30D Memory & Storage - HBM/DRAM (MU), HDDs/SSDs (STX, WDC), thematic ETF (DRAM Roundhill Memory ETF — added 2026-05-06 after launching ~April 2026; note refresh 2026-05-10: now +101.9% off $26.14 low to $52.80 ATH, +13.4%… China Tech Outflow -7.3% 30D Chinese internet and platform leaders with broad mainland, Hong Kong, and technology ETF exposure. Thebuildout Grid Infrastructure Transmission Outflow -7.6% 30D TheBuildout · Grid Infrastructure & Transmission — their curated supply-chain list (https://thebuildout.ai/lists/grid-infrastructure-transmission), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… War Sensitivity Outflow -7.6% 30D War-sensitivity watchlist — stocks ranked by their reaction to ceasefire fake-outs (TACO trades). Tier 1 fast movers: COPX/JETS/UAE (5-9% pops). Tier 2 hidden oil-sensitive: W/RH/ATZ/AS (heavy-goods shipping costs).… Thebuildout Renewable Energy Hyperscaler Ppas Outflow -7.7% 30D TheBuildout · Renewable Energy Developers (Hyperscaler PPAs) — their curated supply-chain list (https://thebuildout.ai/lists/renewable-energy-hyperscaler-ppas), imported 2026-08-19 as a brand-tagged watchlist. Our slice… Thebuildout AI Data Center Operators Neoclouds Outflow -8.1% 30D TheBuildout · AI Data Center Operators & NeoClouds — their curated supply-chain list (https://thebuildout.ai/lists/ai-data-center-operators-neoclouds), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Thebuildout Dram Memory Outflow -8.6% 30D TheBuildout · DRAM Memory — their curated supply-chain list (https://thebuildout.ai/lists/dram-memory), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the free-tier visible head: 4… Semis Outflow -8.6% 30D Semiconductors - GPUs (NVDA, AMD), foundry (TSM), networking chips (AVGO, MRVL), architecture (ARM), mobile (QCOM), equipment (ASML, AMAT), packaging (AMKR), analog/power (ON), programmable-logic (LSCC - added… CPU Shortage Supply Chain Outflow -8.7% 30D AI compute shortage supply chain across CPUs, high-speed connectivity, assembly and test, and semiconductor baskets. Livestock Disease Outflow -9.0% 30D Livestock-disease / beef supply-shock — single consolidated watchlist + alert hub for the New World Screwworm → cattle-supply thesis (first US case 2026-06-03; US herd 75-yr low; record beef). ROLES: (A) Animal-health… Thebuildout High Speed Pcbs Server Networking Outflow -9.1% 30D TheBuildout · High-Speed PCBs (Server/Networking Grade) — their curated supply-chain list (https://thebuildout.ai/lists/high-speed-pcbs-server-networking), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… EV Clean Energy Outflow -9.3% 30D EV makers + clean energy + related ETFs. Solar tracking (NXT Nextracker), industrial energy storage/batteries (ENS EnerSys). Lithium pure-plays added 2026-05-10 from… Web Cloud Outflow -9.3% 30D Web/Cloud Infrastructure - Edge computing, CDN, databases, data platforms, observability Consumer Outflow -9.3% 30D Consumer brands - ETFs (XLY consumer discretionary). Athleisure (AS, LULU, NKE, DECK, CROX), food/beverage (SBUX, CMG, DPZ), health/wellness (HIMS), payments (PYPL, XYZ — Block Inc, ticker renamed from SQ in 2025),… Thebuildout Optical Transceivers Modules Outflow -9.4% 30D TheBuildout · Optical Transceivers & Modules — their curated supply-chain list (https://thebuildout.ai/lists/optical-transceivers-modules), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR… Thebuildout Custom AI Silicon Hyperscaler Asics Outflow -9.4% 30D TheBuildout · Custom AI Silicon & Hyperscaler ASICs — their curated supply-chain list (https://thebuildout.ai/lists/custom-ai-silicon-hyperscaler-asics), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Thebuildout Data Center Networking Silicon Outflow -9.6% 30D TheBuildout · Data Center Networking Silicon — their curated supply-chain list (https://thebuildout.ai/lists/data-center-networking-silicon), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR… Thebuildout AI Sensors Perception Hardware Outflow -9.7% 30D TheBuildout · AI Sensors & Perception Hardware — their curated supply-chain list (https://thebuildout.ai/lists/ai-sensors-perception-hardware), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR… AI Infrastructure Outflow -9.8% 30D Complete AI Infrastructure - power, cooling, electrical, construction, data/optical connectivity (NOK Nokia), manufacturing, power connectors, REITs, materials, backup, water, AI compute providers (NBIS Nebius, OSS One… Thebuildout Connector High Speed Interconnect Outflow -9.8% 30D TheBuildout · Connector & High-Speed Interconnect Suppliers — their curated supply-chain list (https://thebuildout.ai/lists/connector-high-speed-interconnect), imported 2026-08-19 as a brand-tagged watchlist. Our slice… Retail Outflow -10.3% 30D Retail/Consumer - ETFs (XRT retail). Home Improvement (HD, LOW), E-commerce (SHOP), Athletic/Apparel (AS, LULU, NKE, DECK, CROX, ANF), Food/Beverage (SBUX, MCD, CMG, DPZ, YUM), General Retail (COST, WMT, TGT, TJX) Thebuildout Semiconductor Fab Construction Engineering Outflow -10.6% 30D TheBuildout · Semiconductor Fab Construction & Engineering — their curated supply-chain list (https://thebuildout.ai/lists/semiconductor-fab-construction-engineering), imported 2026-08-19 as a brand-tagged watchlist.… Cultural Thesis Outflow -10.7% 30D Cultural thesis watchlist — stocks driven by consumer behavior shifts, social arbitrage signals, and cultural cascades. HIMS = telehealth / GLP-1 cultural arbitrage (replaced BRBR as the protein-economy vehicle… Thebuildout Industrial Robotics Automation Outflow -10.9% 30D TheBuildout · Industrial Robotics & Automation — their curated supply-chain list (https://thebuildout.ai/lists/industrial-robotics-automation), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR… Thebuildout Racks Chassis Mechanical Infrastructure Outflow -11.5% 30D TheBuildout · Racks, Chassis & Mechanical Infrastructure — their curated supply-chain list (https://thebuildout.ai/lists/racks-chassis-mechanical-infrastructure), imported 2026-08-19 as a brand-tagged watchlist. Our… Thebuildout Trailing Edge Logic Specialty Foundries Outflow -11.6% 30D TheBuildout · Trailing-Edge Logic & Specialty Foundries — their curated supply-chain list (https://thebuildout.ai/lists/trailing-edge-logic-specialty-foundries), imported 2026-08-19 as a brand-tagged watchlist. Our… Electricity Outflow -11.7% 30D The electricity layer of the AI buildout, consolidated: generation, grid and transmission, transformers, distribution and busways, turbines, nuclear, fuel cells, UPS and storage, power semiconductors and PSUs. Created… Thebuildout Data Center Thermal Management Outflow -11.8% 30D TheBuildout · Data Center Thermal Management (Air & Liquid) — their curated supply-chain list (https://thebuildout.ai/lists/data-center-thermal-management), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Travel Leisure Outflow -11.9% 30D Travel & leisure — war-ends playbook beneficiary. Oil drop → travel cost reduction, pent-up demand, cruise recovery. Alt Managers Outflow -12.1% 30D Publicly-traded alternative asset managers — fee-related-earnings cohort plus the Brookfield parent. Brookfield axis: BAM (Brookfield Asset Management — fee-light spinout, ~$540B FBE AUM, FRE-growth thesis), BN… Airlines Outflow -12.4% 30D Airlines — war-ends playbook beneficiary. Oil drop → margin expansion, leisure travel recovery. JETS ETF for broad exposure. (Removed 2026-05-04: HA absorbed by ALK via 2024 acquisition; SAVE bankrupt + delisted… Robotics Outflow -12.6% 30D Robotics & physical-AI across the stack — seeded 2026-06-27 from @mkfilko + @MMatters22596 robotics baskets (live rotation theme). Layers: brain/compute (NVDA Isaac/GR00T, BB/QNX OS), vision (CGNX, AMBA), lidar/sensors… Thebuildout China AI Semiconductor Stack Outflow -12.8% 30D TheBuildout · China AI Semiconductor Stack — their curated supply-chain list (https://thebuildout.ai/lists/china-ai-semiconductor-stack), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines… Thebuildout Natural Gas Turbines Dc Power Outflow -12.8% 30D TheBuildout · Natural Gas Turbines & DC Power Generation — their curated supply-chain list (https://thebuildout.ai/lists/natural-gas-turbines-dc-power), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Thebuildout Data Center Power Semiconductors Outflow -13.1% 30D TheBuildout · Data Center Power Semiconductors — their curated supply-chain list (https://thebuildout.ai/lists/data-center-power-semiconductors), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Thebuildout Ups Energy Storage Data Centers Outflow -13.1% 30D TheBuildout · UPS & Energy Storage for Data Centers — their curated supply-chain list (https://thebuildout.ai/lists/ups-energy-storage-data-centers), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Nuclear Fuel Cycle Outflow -13.1% 30D Nuclear fuel cycle — AI-DRIVEN nuclear-demand thesis (sibling to ai-power-bottleneck, NOT a rotation away from AI; the mechanism is COMPLEMENTARY — hyperscaler data-center power demand pulls through the entire nuclear… Thebuildout Semiconductor Ip Licensors Outflow -13.5% 30D TheBuildout · Semiconductor IP Licensors — their curated supply-chain list (https://thebuildout.ai/lists/semiconductor-ip-licensors), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of… Thebuildout Advanced Packaging 2d3d Leaders Outflow -13.5% 30D TheBuildout · Advanced Packaging (2.5D/3D) Leaders — their curated supply-chain list (https://thebuildout.ai/lists/advanced-packaging-2d3d-leaders), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Thebuildout Semiconductor Bonding Interconnect Materials Outflow -13.5% 30D TheBuildout · Semiconductor Bonding & Interconnect Materials — their curated supply-chain list (https://thebuildout.ai/lists/semiconductor-bonding-interconnect-materials), imported 2026-08-19 as a brand-tagged… AI Power Outflow -13.5% 30D AI Power Bottleneck — Leopold Aschenbrenner's watts-per-rack thesis. Fuel cells (BE), distributed power (PSIX, BW), nat gas (EQT, LBRT, PUMP), BTC miners pivoting to AI compute (CORZ, IREN, APLD, CIFR, HUT, BTDR, CLSK,… Thebuildout Eda Software Outflow -13.6% 30D TheBuildout · EDA Software — their curated supply-chain list (https://thebuildout.ai/lists/eda-software), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the free-tier visible head: 6… Thebuildout Data Center Fiber High Speed Cabling Outflow -13.7% 30D TheBuildout · Data Center Fiber & High-Speed Cabling — their curated supply-chain list (https://thebuildout.ai/lists/data-center-fiber-high-speed-cabling), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Thebuildout Fuel Cells Alternative Dc Power Outflow -13.9% 30D TheBuildout · Fuel Cells & Alternative DC Power — their curated supply-chain list (https://thebuildout.ai/lists/fuel-cells-alternative-dc-power), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Defense Contractors Outflow -14.1% 30D Defense contractors - ETFs (ITA aerospace/defense, PPA aerospace/defense). Lockheed Martin, RTX (Raytheon), Northrop Grumman, General Dynamics, L3Harris, Boeing. Spacex S1 Supply Chain Outflow -14.2% 30D SpaceX S-1 picks-and-shovels + space peers screen (2026-06-04): AI-compute/power/optical supply chain, space industrial base, disrupted incumbents, holders. Tied to spacex-s1 investigations. Grid Buildout Outflow -14.3% 30D Transformer, switchgear, electrical-equipment, and engineering contractors exposed to transmission and data-center grid buildout. Thebuildout Transformers Grid Interconnect Outflow -14.3% 30D TheBuildout · Transformers & Grid Interconnect Hardware — their curated supply-chain list (https://thebuildout.ai/lists/transformers-grid-interconnect), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Supply Chain Traces Outflow -14.4% 30D Supply chain trace discoveries — tickers found by our autonomous research agents across all traces. Tungsten (KMT Kennametal, CRS Carpenter; Almonty Layer-1 pure-play pending correct-ticker re-add — was wrongly tracked… Thebuildout Ems Contract Electronics Manufacturing Outflow -14.4% 30D TheBuildout · EMS / Contract Electronics Manufacturing — their curated supply-chain list (https://thebuildout.ai/lists/ems-contract-electronics-manufacturing), imported 2026-08-19 as a brand-tagged watchlist. Our slice… Thebuildout Power Distribution Pdus Busways Outflow -14.4% 30D TheBuildout · Power Distribution (PDUs, Busways, Switchgear) — their curated supply-chain list (https://thebuildout.ai/lists/power-distribution-pdus-busways), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Thebuildout Co Packaged Optics CPO Outflow -14.7% 30D TheBuildout · Co-Packaged Optics (CPO) — their curated supply-chain list (https://thebuildout.ai/lists/co-packaged-optics-cpo), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the… Thebuildout Glass Core Panel Level Packaging Outflow -15.2% 30D TheBuildout · Glass Core & Panel-Level Packaging — their curated supply-chain list (https://thebuildout.ai/lists/glass-core-panel-level-packaging), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Thebuildout Package Substrate Interposer Ecosystem Outflow -15.7% 30D TheBuildout · Package Substrate & Interposer Ecosystem — their curated supply-chain list (https://thebuildout.ai/lists/package-substrate-interposer-ecosystem), imported 2026-08-19 as a brand-tagged watchlist. Our slice… Humanoid Robotics Outflow -16.2% 30D Humanoid robotics components — sensors and motion control for the 2027-2028 humanoid wave. Component layer: VPG (Vishay Precision Group — strain gauges and force/torque sensors), MOG-A (Moog — precision motion… Neoclouds Outflow -16.3% 30D GPU cloud and AI infrastructure providers, including power-rich data-center and former crypto-mining operators. Thebuildout Specialty Gases Process Chemicals Outflow -16.7% 30D TheBuildout · Specialty Gases & Process Chemicals — their curated supply-chain list (https://thebuildout.ai/lists/specialty-gases-process-chemicals), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Thebuildout Lithography Equipment Outflow -16.9% 30D TheBuildout · Lithography Equipment — their curated supply-chain list (https://thebuildout.ai/lists/lithography-equipment), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the… Thebuildout Metrology Inspection Outflow -17.0% 30D TheBuildout · Metrology & Inspection — their curated supply-chain list (https://thebuildout.ai/lists/metrology-inspection), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the… Thebuildout HBM Memory Outflow -17.0% 30D TheBuildout · HBM Memory — their curated supply-chain list (https://thebuildout.ai/lists/hbm-memory), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the free-tier visible head: 18 of… Space Outflow -17.2% 30D Space plays — expanded 2026-05-27 for SpaceX IPO catalyst (debut 2026-06-12 NASDAQ:SPCX, $1.75T-$2T target, $40-80B raise, largest IPO ever). Originally only RKLB / ARKX / GSAT (3 names). Launch / rockets: RKLB… Thebuildout Deposition Equipment Outflow -17.5% 30D TheBuildout · Deposition Equipment — their curated supply-chain list (https://thebuildout.ai/lists/deposition-equipment), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the free-tier… Thebuildout Advanced Packaging Equipment Outflow -18.0% 30D TheBuildout · Advanced Packaging Equipment — their curated supply-chain list (https://thebuildout.ai/lists/advanced-packaging-equipment), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines… Thebuildout Cmp Slurries Consumables Outflow -18.2% 30D TheBuildout · CMP Slurries & Consumables — their curated supply-chain list (https://thebuildout.ai/lists/cmp-slurries-consumables), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the… Nearline Storage Outflow -19.0% 30D High-capacity storage makers and upstream media and component suppliers serving hyperscale and AI data centers. Thebuildout Etch Equipment Outflow -19.2% 30D TheBuildout · Etch Equipment — their curated supply-chain list (https://thebuildout.ai/lists/etch-equipment), imported 2026-08-19 as a brand-tagged watchlist. Our slice = US-listed/ADR lines of the free-tier visible… Thebuildout Power Supplies Psu Power Shelves Outflow -19.3% 30D TheBuildout · Power Supplies (PSU) & Power Shelves — their curated supply-chain list (https://thebuildout.ai/lists/power-supplies-psu-power-shelves), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Quantum Computing Outflow -19.9% 30D Quantum-compute pure-plays. Gate/trapped-ion (IONQ), superconducting (RGTI/Rigetti), annealing (QBTS/D-Wave), photonic (QUBT/Quantum Computing Inc, XNDU/Xanadu — de-SPAC 2026-03), cold-atom/Rydberg (INFQ/Infleqtion —… WFE Test Metrology Outflow -20.5% 30D Semiconductor wafer-fab equipment, process control, metrology, test, packaging, and materials suppliers. Thebuildout Semiconductor Test Burn In Equipment Outflow -20.5% 30D TheBuildout · Semiconductor Test & Burn-In Equipment — their curated supply-chain list (https://thebuildout.ai/lists/semiconductor-test-burn-in-equipment), imported 2026-08-19 as a brand-tagged watchlist. Our slice =… Drone Defense Outflow -21.6% 30D Drone & counter-drone defense — offense (AVAV AeroVironment, AVEX AEVEX Corp — newly-public April 2026 full-stack drone + AI ISR, KTOS Kratos, RCAT Red Cat — small-cap manufacturer), counter-drone (EOPSF Electro Optic… Optical Supply Chain Outflow -22.2% 30D Optical/photonics supply chain — AI optical supercycle plays. Laser sources (LITE, COHR), optical networking (CIEN), silicon photonics (ALAB, SMTC), foundry (TSEM), next-gen modulators (LWLG, SIVEF/Sivers Semiconductors…

8. Key Signals

Recorded signals · 55

ADM: basing → uptrendAG: pullback → downtrendASAN: downtrend → pullbackATRC: uptrend → parabolicBEN: uptrend → basingCRC: pullback → basingCRM: breakout → uptrendCRSR: pullback → uptrendCVS: basing → pullbackDBA: breakout → uptrendDIVO: uptrend → basingDNN: pullback → downtrendEE: uptrend → pullbackEIX: pullback → collapseELVN: uptrend → pullbackESI: pullback → collapseEWTX: pullback → uptrendEWZ: basing → uptrendFLNG: basing → uptrendHAL: pullback → basingHCC: uptrend → pullbackICL: basing → pullbackKRYS: uptrend → basingMAGS: basing → uptrend

Insider filings · 200

LFST2026-09-15 AMD2026-09-14 DELL2026-09-15 DELL2026-09-15 STX2026-09-15 DELL2026-09-15 HNGE2026-09-14 DELL2026-09-15 MSFT2026-09-15 CHYM2026-09-14 RVMD2026-09-15 WDAY2026-09-14 FANG2026-09-14 HPE2026-09-15

9. Paper Trade Report Card

claude trader $108,831 +8.8% 19 open · updated 2026-09-15

yolo $104,906 +4.9% 12 open · updated 2026-09-15

dip buyer $100,000 0.0% 0 open · updated n/a

momentum trader $99,625 -0.4% 2 open · updated 2026-09-15

bench signals $52,113 n/a 52 open · updated 2026-09-15

10. Active Perspectives

AI power: rack and chip conversion active high latest 2026-09-06

AI optics: bandwidth becomes supplier earnings active high latest 2026-09-06

AI memory: pricing discipline through the supply ramp active high latest 2026-09-06

Nearline storage: density and supplier discipline active high latest 2026-09-06

Nuclear fuel: contracting reaches enrichment and supply monitoring medium latest 2026-09-06

Biotech funding: conversion into tools and CRO orders monitoring medium latest 2026-09-06

Energy disruption: physical flows and exporter economics monitoring medium latest 2026-09-06

Drone defense: contracts become profitable deliveries monitoring medium latest 2026-09-06

AI spending: the supplier earnings reversal case monitoring medium latest 2026-09-06

AI power: generation and grid equipment active high latest 2026-09-06

Today's Actions · 136 ORCL $140.35 · CRWV $80.92 · SNPS $367.70

exit · 44

ORCL $140.35 breaking down — -13.6% this week, 57.4% off its 52-week high and still falling; down 53.5% over the past year and 16.0% below its 200-day — the long trend agrees

CRWV $80.92 breaking down — -18.9% this week, 47.2% off its 52-week high and still falling; down 32.8% over the past year and 12.0% below its 200-day — the long trend agrees

SNPS $367.70 breaking down — -6.2% this week, 31.8% off its 52-week high and still falling; down 12.3% over the past year and 17.8% below its 200-day — the long trend agrees

ABT tape broken — Confirmed tape transition pullback → downtrend.

ADA-USD tape broken — Confirmed tape transition pullback → downtrend.

ADBE tape broken — Confirmed tape transition pullback → downtrend.

AG tape broken — Confirmed tape transition pullback → downtrend.

AS tape broken — Confirmed tape transition pullback → collapse.

ASAN tape broken — Confirmed tape transition pullback → downtrend.

ATEN tape broken — Confirmed tape transition pullback → collapse.

AXON tape broken — Confirmed tape transition pullback → downtrend.

BEAM tape broken — Confirmed tape transition pullback → collapse.

BRZE tape broken — Confirmed tape transition uptrend → downtrend.

BTDR tape broken — Confirmed tape transition pullback → downtrend.

BX tape broken — Confirmed tape transition pullback → downtrend.

CASY tape broken — Confirmed tape transition pullback → collapse.

CDNS tape broken — Confirmed tape transition pullback → collapse.

CRDO tape broken — Confirmed tape transition pullback → collapse. trend-hold

CRSP tape broken — Confirmed tape transition pullback → downtrend.

DASTF tape broken — Confirmed tape transition pullback → downtrend.

DNN tape broken — Confirmed tape transition pullback → downtrend.

DOGE-USD tape broken — Confirmed tape transition pullback → downtrend.

DYN tape broken — Confirmed tape transition uptrend → downtrend.

EIX tape broken — Confirmed tape transition pullback → collapse.

ESI tape broken — Confirmed tape transition pullback → collapse.

GAP tape broken — Confirmed tape transition pullback → downtrend.

GIS tape broken — Confirmed tape transition pullback → downtrend.

GLXY tape broken — Confirmed tape transition pullback → downtrend.

HIMS tape broken — Confirmed tape transition pullback → downtrend.

HYG tape broken — Confirmed tape transition basing → downtrend.

JBS tape broken — Confirmed tape transition pullback → downtrend.

JD tape broken — Confirmed tape transition pullback → downtrend.

JEPI tape broken — Confirmed tape transition uptrend → downtrend.

KEN tape broken — Confirmed tape transition pullback → downtrend.

KKR tape broken — Confirmed tape transition pullback → downtrend.

NTLA tape broken — Confirmed tape transition pullback → downtrend. trend-hold

OPTX tape broken — Confirmed tape transition pullback → collapse.

OWL tape broken — Confirmed tape transition pullback → downtrend.

PEG tape broken — Confirmed tape transition pullback → downtrend.

SFD tape broken — Confirmed tape transition pullback → collapse.

SHOP tape broken — Confirmed tape transition pullback → downtrend.

TPG tape broken — Confirmed tape transition pullback → downtrend.

VKTX tape broken — Confirmed tape transition pullback → downtrend.

ZS tape broken — Confirmed tape transition pullback → downtrend.

entry · 92

CRWD breaking out 0.6% off its 52-week high after a +15.5% week — a +43% three-month run, not a one-week pop

TMO breaking out 0.9% off its 52-week high after a +6.4% week — a +36% three-month run, not a one-week pop

ABBV breaking out 1.7% off its 52-week high after a +5.7% week

NFLXE coming into play — 37.6% off its 52-week high with the tape turning up (+1.5% this week)

IBM coming into play — 25.3% off its 52-week high with the tape turning up (+7.0% this week)

CME $280 in its $280 buy zone

ITA $210–220 in its $210–220 buy zone

LITE $830–890 in its $830–890 buy zone

WMT $108–111 in its $108–111 buy zone

BIIB $216.17 basing after run — new this week

KRE watch-grade call — 3 of 5 bells lit (research, advisory, regime) · a real base is forming — watch for the breakout

SPY watch-grade call — 3 of 5 bells lit (research, advisory, regime) · a real base is forming — watch for the breakout trend-hold

UUP watch-grade call — 3 of 5 bells lit (research, advisory, regime) · a real base is forming — watch for the breakout

AES a real base is forming — watch for the breakout

AIQ a real base is forming — watch for the breakout

ARKX a real base is forming — watch for the breakout

ASHR a real base is forming — watch for the breakout

AVAL a real base is forming — watch for the breakout

AVUV a real base is forming — watch for the breakout

BA a real base is forming — watch for the breakout

BDN a real base is forming — watch for the breakout

BJAN a real base is forming — watch for the breakout

BOCT a real base is forming — watch for the breakout

BOTZ a real base is forming — watch for the breakout

BRK-B a real base is forming — watch for the breakout

BUFR a real base is forming — watch for the breakout

BUZZ a real base is forming — watch for the breakout

CRC a real base is forming — watch for the breakout

DGRW a real base is forming — watch for the breakout

DIA a real base is forming — watch for the breakout

DIVO a real base is forming — watch for the breakout

FTEC a real base is forming — watch for the breakout

GSAT a real base is forming — watch for the breakout

IWM a real base is forming — watch for the breakout

IWO a real base is forming — watch for the breakout

MJ a real base is forming — watch for the breakout

MSGS a real base is forming — watch for the breakout

NEE a real base is forming — watch for the breakout

OGN a real base is forming — watch for the breakout

PGR a real base is forming — watch for the breakout

PJAN a real base is forming — watch for the breakout

POCT a real base is forming — watch for the breakout

QQQ a real base is forming — watch for the breakout

QQQM a real base is forming — watch for the breakout

QUAL a real base is forming — watch for the breakout

RSP a real base is forming — watch for the breakout

SCHB a real base is forming — watch for the breakout

SCHX a real base is forming — watch for the breakout

STNG a real base is forming — watch for the breakout

UAE a real base is forming — watch for the breakout

UJAN a real base is forming — watch for the breakout

UOCT a real base is forming — watch for the breakout

USA a real base is forming — watch for the breakout

VGT a real base is forming — watch for the breakout

VOO a real base is forming — watch for the breakout

VTI a real base is forming — watch for the breakout

VTV a real base is forming — watch for the breakout

VUG a real base is forming — watch for the breakout

VYM a real base is forming — watch for the breakout

WST a real base is forming — watch for the breakout

ABCL $8.45 watch-grade call — 3 of 5 bells lit (research, tape, regime); trigger at $8.45 trend-hold

BE watch-grade call — 3 of 5 bells lit (research, tape, regime)

COHR $299.22 watch-grade call — 3 of 5 bells lit (research, advisory, regime); trigger at $299.22

IREN $45.66 watch-grade call — 3 of 5 bells lit (research, tape, regime); trigger at $45.66

META $665 watch-grade call — 3 of 5 bells lit (research, tape, regime); trigger at $665 trend-hold

MRVL $224.58 watch-grade call — 3 of 5 bells lit (research, tape, regime); trigger at $224.58

MSFT $442 watch-grade call — 3 of 5 bells lit (research, tape, regime); trigger at $442 trend-hold

MU $989.96 3 of 5 bells lit (research, tape, regime); trigger at $989.96

PANW watch-grade call — 3 of 5 bells lit (research, tape, regime) trend-hold

SKHY $151.05 watch-grade call — 3 of 5 bells lit (research, tape, regime); trigger at $151.05 trend-hold

AAPL no setup today — in trend, above its 50- and 200-day, +4.8% this week, 3.8% off its 52-week high

AMZN no setup today — under its 50-day but still above its 200-day, -3.3% this week, 13.5% off its 52-week high

ARGX no setup today — in trend, above its 50- and 200-day, -2.7% this week, 8.7% off its 52-week high

ARM no setup today — under its 50-day but still above its 200-day, -7.5% this week, 46.6% off its 52-week high trend-hold

ARQQ no setup today — under both its 50- and 200-day, -19.1% this week, 70.5% off its 52-week high

GOOGL no setup today — under its 50-day but still above its 200-day, +2.0% this week, 15.6% off its 52-week high

HQ no setup today — no trend read yet (under a year of price history), -18.2% this week, 70.7% off its 52-week high

ILMN no setup today — in trend, above its 50- and 200-day, +5.3% this week, 4.1% off its 52-week high

INFQ no setup today — above its 50-day but not its 200-day, -7.3% this week, 53.9% off its 52-week high

IONQ no setup today — under both averages, 50-day below the 200, -8.4% this week, 56.2% off its 52-week high

LAES no setup today — under both averages, 50-day below the 200, -6.1% this week, 73.6% off its 52-week high

NET no setup today — in trend, above its 50- and 200-day, +15.1% this week, 2.2% off its 52-week high trend-hold

NTR no setup today — in trend, above its 50- and 200-day, -2.4% this week, 7.8% off its 52-week high

NVDA no setup today — under its 50-day but still above its 200-day, -6.0% this week, 10.3% off its 52-week high

OUST no setup today — under its 50-day but still above its 200-day, -12.5% this week, 48.6% off its 52-week high

PL no setup today — under both averages, 50-day below the 200, -10.1% this week, 69.0% off its 52-week high trend-hold

QBTS no setup today — under both averages, 50-day below the 200, -7.1% this week, 64.9% off its 52-week high

QUBT no setup today — under both averages, 50-day below the 200, -4.6% this week, 69.7% off its 52-week high

RGTI no setup today — under both averages, 50-day below the 200, -4.5% this week, 74.0% off its 52-week high

SNDK no setup today — in trend, above its 50- and 200-day, -11.9% this week, 35.0% off its 52-week high

TSLA no setup today — above its 50-day but not its 200-day, -3.1% this week, 28.5% off its 52-week high

XNDU no setup today — under both averages, 50-day below the 200, -18.7% this week, 81.6% off its 52-week high

All Scans 2 complete · 29 without a dated artifact

monster scan Read full scan → washout scan Read full scan →

market pulse missing

ai scan missing

ai infrastructure missing

biotech scan missing

nvda ecosystem missing

defensive scan missing

healthcare scan missing

consumer scan missing

retail scan missing

cloud etfs missing

cybersec missing

ev clean energy missing

etf universe missing

insider scan missing

bargain bin missing

tech insider buys missing

crypto scan missing

macro commodities missing

defense contractors missing

geopolitical risk missing

optical supply chain missing

drone defense missing

supply chain traces missing

wfe test metrology missing

food security missing

cultural thesis missing

airlines missing

chemicals missing

travel leisure missing

The desk's frozen record The machine-built sections as this issue recorded them — the tape, calls, and wires that were true on this date (desk plumbing and file-path lines removed for reading).

Regime State

State counts: collapse: 208, pullback: 374, uptrend: 237, downtrend: 111.
Latest transition batch: 2026-09-15 vs 2026-09-14; 30 confirmed state-to-state flips, 2 entries, 0 exits.
Confirmed flips: $ADM basing -> uptrend; $AG pullback -> downtrend; $ASAN downtrend -> pullback; $ATRC uptrend -> parabolic; $BEN uptrend -> basing; $CRC pullback -> basing.

Rates & Macro

Source: FRED last-good series under macro; values are aligned to the desk date without interpolation.

Series	Observation	Tape alignment	Receipt
2Y Treasury (`DGS2`)	4.65% as of 2026-09-14	carried	fresh
10Y Treasury (`DGS10`)	4.97% as of 2026-09-14	carried	fresh
10Y minus 2Y curve (`T10Y2Y`)	0.33% as of 2026-09-15	direct	fresh
Effective fed funds (`DFF`)	3.63% as of 2026-09-14	carried	fresh
10Y real yield (`DFII10`)	2.60% as of 2026-09-14	carried	fresh
CPI (all urban consumers) (`CPIAUCSL`)	334.1 as of 2026-08-01	carried	fresh
US high-yield option-adjusted spread (`BAMLH0A0HYM2`)	2.71% as of 2026-09-14	carried	fresh
Broad US dollar index (`DTWEXBGS`)	118.2 as of 2026-09-11	carried	fresh
VIX close (`VIXCLS`)	17.10 as of 2026-09-14	carried	fresh
Chicago Fed financial conditions (`NFCI`)	-0.56 as of 2026-09-04	carried	fresh

Cross-sector Rotation

Money rotating INTO Crypto (RS +21.3, 35% strong-up, today -4.9%), Food Security (RS +12.2, 80% strong-up, today +0.7%), Canadian OG (RS +10.9, 86% strong-up, today +3.3%) — OUT OF Optical Supply Chain (RS -19.8), Drone Defense (RS -19.2), Thebuildout Semiconductor Test Burn In Equipment (RS -18.1). Benchmark SPY -2.4% 30d. ⚡ EMERGING (turning up before the trailing board): Web Cloud (accel +3.9, 67% up). TURNING LAGGARDS (30d RS still negative; 7d RS now positive): Web Cloud (30d -6.8, 7d +2.8, divergence +9.7). Fading leaders: Crypto (accel -9.9, today -4.9%), Food Security (accel -3.8, today +0.7%), Hard Assets (accel -4.0, today -0.4%), Ark (accel -3.2, today -1.0%), Energy (accel -5.4, today +0.9%), Thebuildout Lithium Battery Metals (accel -7.3, today -0.5%).
⚡ Front-run (emerging, turning up before the trailing board): Web Cloud (accel +3.9, 67% up).
↗ Turning laggards (30d RS still negative; 7d RS now positive): web-cloud (30d -6.8, 7d +2.8, divergence +9.7).

Lane Tape

Reference: SPY -0.5%, RSP -0.5%. 122 lanes with 3+ settled names; 2 closed at least 90% up, 12 at least 90% down.

Lane	Med 1D	Up	30d phase
Canadian OG	+3.3%	6/7	leading (RS +10.9)
Biotech Capital Cycle	+2.1%	23/37	leading (RS +5.4)
Geopolitical	+1.9%	23/28	leading (RS +4.7)
Trace Glp1 Manufacturing	+1.7%	6/7	leading (RS +4.7)
Cybersec	+1.3%	10/11	leading (RS +6.1)
Trace Iran War Second And Third Order Effects	+1.3%	5/7	leading (RS +10.4)
Food Security	+1.0%	9/10	fading (RS +12.2)
Trace Lng Liquefaction Shipping And Regasification	+1.0%	3/5	neutral (RS -0.3)
… 106 more
War Sensitivity	-1.7%	2/20	lagging (RS -5.2)
Cultural Thesis	-1.9%	0/8	lagging (RS -8.3)
Lazarus	-1.9%	2/10	neutral (RS -2.1)
Consumer	-2.2%	2/16	lagging (RS -6.9)
Retail	-2.5%	0/22	lagging (RS -7.8)
Nearline Storage	-3.5%	0/3	lagging (RS -16.6)
Neoclouds	-3.7%	1/10	lagging (RS -13.9)
Crypto	-4.9%	0/11 (20 in lane)	fading (RS +21.3)

What moved together

Food Security +1.0% median, 9 of 10 up; the 30-day rank still reads fading — a one-day re-rate the month-scale rank cannot see.
Crypto -4.9% median, 0 of 11 up, 4.4 points below the S&P 500 — the lane sold as one.
Neoclouds -3.7% median, 1 of 10 up, 3.2 points below the S&P 500 — the lane sold as one.
Retail -2.5% median, 0 of 22 up, 2.0 points below the S&P 500 — the lane sold as one.
Cybersec +1.3% median, 10 of 11 up, 1.8 points above the S&P 500 — the lane moved as one.

Movers and their cohorts

$ENVA -23.4% on 6.8× volume — attribution: watched; no lane on file
$SWKS +13.6% — attribution: watched; Semis +0.6% (11/18)
$ARWR -12.4% on 3.4× volume — attribution: watched; no lane on file
$WING -12.1% on 2.6× volume — attribution: watched; Livestock Disease -1.3% (3/20)
$SDGR +12.1% on 3.9× volume — attribution: watched; Biotech Capital Cycle +2.1% (23/37), IBB lane -1.3% (10/37)
$CRCL -11.4% — attribution: blindside; Financials -0.2% (8/22)
$TEM +10.7% — attribution: watched; Biotech Capital Cycle +2.1% (23/37), IBB lane -1.3% (10/37), AI lane -0.4% (27/67)
$COIN -10.1% — attribution: watched; Hard Assets -0.3% (3/12), Crypto -4.9% (0/11)
$AXON -9.8% on 3.7× volume — attribution: contrary; Drone Defense +0.1% (10/19)
$FPS +9.5% on 5.7× volume — attribution: blindside; Thebuildout Power Distribution Pdus Busways -0.3% (3/9), Grid Buildout -0.2% (4/11), AI Power -0.8% (14/54), Electricity -0.4% (16/55)

Mover bar: a 1D move of 10%+, or 3× volume with a 1D move of 5%+; price $1+, $50M+ dollar volume; daily-reset leveraged and synthetic-income wrappers excluded.

Volatility Gate

VIX 17.2 (NORMAL) · 1d +0.6%. • VIX NORMAL — 17.2 (16-20). Baseline vol; no gate either way.
No fire-sale trigger (rule: >=30% one-day spike is the trigger; the level alone is context).
Credit tape (7d): HYG -0.9% · LQD -1.1% · IEF -1.4% — the flush-vs-break discriminator: orderly credit means the selling is positioning, not a credit event.

Crowd Odds

Bitcoin reaches $80,000 by December 31, 2026 (crypto-geopolitics reopen trigger level) — RESOLVED YES (Polymarket, settled 2026-08-24)
Fed hikes 25bps at the September 2026 meeting (Polymarket cross-check) — 88% (Polymarket, as of 09-16; wk +34pt)
Fed holds (0bps) at the September 16, 2026 meeting — 13% (Kalshi, as of 09-16; wk -32pt)
Government shutdown by October 1, 2026 (Polymarket cross-check) — 1% (Polymarket, as of 09-16; wk +0pt)
US government shut down on Oct 1, 2026 — 1% (Kalshi, as of 09-16; wk +0pt)
NVIDIA is the largest company by market cap on December 31, 2026 — 69% (Polymarket, as of 09-16; wk -10pt)
US recession by end of 2026 (Polymarket cross-check) — 17% (Polymarket, as of 09-16; wk +9pt)
NBER-dated US recession in 2026 — 9% (Kalshi, as of 09-16; wk +3pt)

The Prints

$FPS — Reported EPS $0.25 versus analyst consensus of $0.24 (+5.2%).

Upcoming Prints (next 72h)

2026-09-16 — after close: ALMU

Tripwires

Tripwires: no new trips since the 2026-09-15 duty pass.

Desk Calls

Ticker	Stance	Entry	Review-by	30d vs SPY
$SNDK	watch	A new flag and held base, then a close strictly above $1740.00. Friday’s equal close…	2026-09-30	pending
$AMAT	watch	WAIT: close above $489.46 (20-day average); Reclaim/flag plus current orders,…	2026-09-11 (overdue)	pending
$CEG	watch (invalidation?)	WAIT: close above $299.73 (Sept 4 high; canonical pivot 296.62 already crossed);…	2026-09-11 (overdue)	pending
$COHR	watch (invalidation?)	WAIT: close above $299.22 (20-day average); Reclaim/flag plus supplier allocation…	2026-09-11 (overdue)	pending
$GEV	watch (invalidation?)	WAIT: close above $971.98 (20-day average); Reclaim after initial pop and hold a…	2026-09-11 (overdue)	pending
$GLW	watch (invalidation?)	WAIT: close above $154.59 (Sept 4 high; SMA20 already reclaimed); NEW flag plus…	2026-09-11 (overdue)	pending
$IREN	watch (invalidation?)	WAIT: close above $45.66 (200-day average); Long-average reclaim and held flag;…	2026-09-11 (overdue)	pending
$LRCX	watch (in zone)	WAIT: close above $312.76 (20-day average); Reclaim/flag plus current orders, memory…	2026-09-11 (overdue)	pending
$MRVL	watch (in zone)	WAIT: close above $224.58 (20-day average); Reclaim/flag plus current design-win…	2026-09-11 (overdue)	pending
$MU	buy (in zone)	BUY while the cleared 989.96 flag ceiling holds; losing it returns the entry to WAIT…	2026-09-11 (overdue)	pending
$NBIS	watch (in zone)	WAIT: close above $226.58 (Sept 4 high; SMA20 already reclaimed); New post-rebound…	2026-09-11 (overdue)	pending
$NVDA	watch	WAIT: close above $236.54 (established pivot; preserved predecessor); Settled…	2026-09-11 (overdue)	pending
$SNDK	watch (in zone)	WAIT: close above $1740.00 (Sept 4 high; SMA20 already reclaimed); Strict close…	2026-09-11 (overdue)	pending
$SOXX	watch (in zone)	WAIT: close above $523.42 (20-day average; first reclaim reference, not 575.88…	2026-09-11 (overdue)	pending
$TSM	watch	WAIT: close above $461.47 (established pivot); Settled volume-supported breakout…	2026-09-11 (overdue)	pending
$VRT	watch (invalidation?)	WAIT: close above $280.99 (Sept 4 high; SMA20 already reclaimed); NEW flag plus…	2026-09-11 (overdue)	pending
$WDC	watch (in zone)	WAIT: close above $468.19 (Sept 4 high; SMA20 already reclaimed); NEW flag plus…	2026-09-11 (overdue)	pending
$BE	watch	holds the 200-day average at $188.51	2026-09-25	pending
$GDX	watch	the confirming leg, not the broken one — 11.6% above its 200-day on a +62.48% year;…	2026-09-25	pending
$GLD	watch	a close back above the 200-day ($414.79) that holds a full week; below that the…	2026-09-04 (overdue)	pending
$MKSI	watch	reclaims its 200-day average at $259.70 with RSI back above 45	2026-09-25	pending
$SIL	watch	same shape as GDX — 11.5% above its 200-day on a +75.94% year	2026-09-25	pending
$SLV	pass	n/a — 7.7% below its own 200-day and widening; a reclaim of that average is the…	2026-09-25	pending
$AGIO	watch	after the current reset prints a higher low, reclaims the 50-day ($35.56) with RSI…	2026-09-24	pending
$DHR	watch (in zone)	after a pullback to the $210.39 volume shelf, holds and turns back above it with RSI…	2026-09-24	pending
$EWY	pass	the one-factor market: 16 of the last 45 sessions moved more than 4% — the template…	2026-09-19	pending
$GDX	watch	the policy-blink bid is real but entries are pullbacks, not +8% days — a hold of the…	2026-09-19	pending
$KRE	watch (invalidation?)	not a trade — the bank-stress tell the bond-fear feed keeps asserting; regionals are…	2026-09-19	pending
$BNO	watch (invalidation?)	not a trade — the oil leg of the monitor. BNO ~$57 is Brent ~$100 at the current…	2026-09-19	pending
$HYG	watch (invalidation?)	not a trade — the tell. Credit at -0.31% from its high while the long bond makes…	2026-09-19	pending
$PSX	pass	same as VLO — RSI 80 at the high; nothing here to chase	2026-09-19	pending
$SPY	watch	no new entry — the trend is intact 0.86% off its high; hold it while the 200-day…	2026-09-19	pending
$TLT	watch (in zone)	the historical equity low arrives AT the yield peak, so the long bond is only worth…	2026-09-19	pending
$VLO	pass	the diesel-crack trade is made — RSI 74.8, 0.96% off its high, +35.46% in three…	2026-09-19	pending
$AXON	watch	a pullback that holds the $576.14 shelf or the 20-day ($556.43)	2026-09-30	-17.4%
$ITA	pass	no entry 2.69% off a 52-week high with RSI 64.4; the wrapper prices the primes, not…	2026-09-30	-12.2%
$KTOS	pass	no entry while price sits 12.3% below the 200-day ($73.65) with a death cross intact…	2026-09-30	-23.3%
$RCAT	pass	no entry after a +20.85% week that stalled at the anchored VWAP from the low…	2026-09-30	-23.8%
$UMAC	watch	a pullback that bases in $21-$24, where the value-area high ($21.09), 50-day…	2026-10-09	-23.3%
$DUST	pass	n/a — the inverse side of the same instrument problem	2026-09-11 (overdue)	n/a
$GDX	watch	don't chase RSI 70.3 after a +21.31% week — a first pullback that holds the 200-day…	2026-09-11 (overdue)	+9.7%
$GLD	watch (in zone)	a close above the 200-day ($411.70) that holds with RSI above 55; $445 reopens the…	2026-09-04 (overdue)	+0.2%
$NUGT	pass	n/a — leveraged miner exposure compounds the whipsaw that already makes miners the…	2026-09-11 (overdue)	+16.4%
$SIL	watch (in zone)	above its 200-day by 2.4% but RSI 67.1 after +20.0% — same pullback discipline as…	2026-09-11 (overdue)	+10.0%
$SIMO	watch (in zone)	price back above the 20-day ($264.25) with the 30-day loss narrowing	2026-09-11 (overdue)	+18.9%
$SLV	watch	the laggard of the complex at 9.8% below its 200-day ($63.76) — a reclaim of that…	2026-09-11 (overdue)	+0.8%
$SNDK	pass	no entry while price sits 13.0% below the 20-day ($1,393.06) and 28.2% below the…	2026-09-11 (overdue)	+41.3%
$STX	watch (in zone)	holds the 20-day ($834.21) and turns RSI back above 50	2026-09-11 (overdue)	+13.8%
$UUP	watch	n/a — the dollar at RSI 39.5 is the tailwind, not the trade	2026-09-11 (overdue)	+0.4%
$GLD	watch (in zone)	a close above the 200-day ($411.72) that holds with RSI above 55; $445 reopens the…	2026-09-04 (overdue)	+2.9%
$CVX	watch	strongest RSI in the upstream cohort (67.2) — hold above the 20-day (~$185.34) to…	2026-09-11 (overdue)	+2.0%
$GLD	watch	this is a signal to watch, not a trade — a reclaim of the 20-day (~$373.15) would be…	2026-09-11 (overdue)	+7.3%
$HAL	avoid	not a trend-hold candidate yet — wait for a base and a reclaim of the 50-day…	2026-09-11 (overdue)	+11.6%
$PSX	watch	RSI is a hair under overbought (69.7) — wait for a pullback to the 20-day (~$200.76)…	2026-09-11 (overdue)	+13.8%
$USO	watch	the -5.5% weekly pullback holds above the 20-day (~$121.96) — a normal pullback…	2026-09-11 (overdue)	+0.8%
$VLO	watch	same setup as PSX — a pullback to the 20-day (~$295.63); note this row is one…	2026-09-11 (overdue)	+12.0%
$ELAN	watch (invalidation?)	a volume-confirmed (at least average volume) close through the 52-week high…	2026-08-14 (overdue)	-9.4%
$LEU	watch	first higher low after a clean Jul 29–30 capex read — the −18% month is a beta…	2026-08-08 (overdue)	+8.9%
$CLMT	pass	RSI 83 on 2.7x volume, +165% in a year — parabolic-chaser material, not trend-hold;…	2026-09-04 (overdue)	+7.2%
$DK	pass	reopen if it builds a multi-week base above the 20-day ($52.58) and resumes — a…	2026-09-04 (overdue)	-0.1%
$MPC	watch	the lane's quality large-cap; interest begins on the first pullback that HOLDS the…	2026-08-21 (overdue)	+9.5%
$PANW	watch	the lane's strongest structure (-2.7% from its 52-week high, +83% on the year);…	2026-09-04 (overdue)	+3.6%
$PL	watch (invalidation?)	untouchable while the knife falls (RSI 30, −14% on the week); interest begins when…	2026-09-11 (overdue)	+6.0%
$PSX	watch	the diversified laggard of the three (+70% on the year, midstream/chem mix dilutes…	2026-08-21 (overdue)	+11.1%
$S	watch	the laggard catching up (+30% in 30 days, still only +9% on the year and -8.6% from…	2026-09-10 (overdue)	+8.0%
$SMH	watch (invalidation?)	the complex switch: first close back above the 50-day ($597.33) after a higher low,…	2026-08-14 (overdue)	+2.2%
$STX	watch (in zone)	the complex's only accumulation-shaped bar: +5.7% on 1.35× volume, closed near the…	2026-08-14 (overdue)	+19.9%
$VLO	watch	best 12-month tape of the pure refiners (+117%); same frame — first 20-day hold…	2026-08-21 (overdue)	+6.7%
$ARM	watch (in zone)	reclaim the pre-registered $270 line and hold it — the trigger the thesis flag broke…	2026-08-08 (overdue)	-2.4%
$CCJ	watch	washed out at RSI 30 — wait for the $84 shelf to hold and a first higher low; the…	2026-09-15	+11.2%
$DUK	watch (invalidation?)	the one working expression — regulated rate-base growth from the same demand; a…	2026-09-15	-5.1%
$LEU	watch (in zone)	only after a full-quarter base — the enrichment monopoly story is intact but the…	2026-10-01	+14.0%
$VST	watch (invalidation?)	reclaim the 200-day (~$166) and hold it — first sign the derate is done	2026-09-15	-9.9%
$ABCL	watch (in zone)	the pop already happened (Feb low $2.78 to a $8.44 high) — this is the first flag;…	2026-08-31 (overdue)	+25.3%
$CBRS	watch (in zone)	a close above the post-flush bounce high ($221.30) confirms the higher low and…	2026-08-31 (overdue)	+13.0%
$META	watch (in zone)	second reclaim attempt off a higher low — buy interest is a close above ~$665,…	2026-08-31 (overdue)	-8.6%
$MSFT	watch (in zone)	no turn signature yet — interest begins at the 200-day reclaim (~$442) after a base;…	2026-10-01	+28.8%
$NTLA	watch (invalidation?)	golden cross, +31% month, and a fresh impulse into $18.48 on July 2 — buy interest…	2026-08-31 (overdue)	-25.0%
$ORCL	pass	reopen when the knife stops: the February low ($136) holds on this retest AND a +7%…	2026-10-01	+1.9%
$AXTI	pass	reopen only if it bases above its 200-day (~$42.55) for a full quarter AND revenue…	2026-10-01	+43.6%
$CIFR	pass	reopen only on revenue inflecting up AND visible de-leveraging of the $4.4B debt stack	2026-10-01	-25.1%
$CORZ	pass	reopen on a recapitalization that restores positive equity with the CoreWeave…	2026-10-01	-14.3%
$CRDO	buy (invalidation?)	elite fundamentals (33% operating margin on $1.34B FY26 revenue) with the…	2026-09-15	-7.1%
$CRWV	pass	reopen only on a financing regime change — interest expense stabilizing while…	2026-10-01	-3.0%
$EQT	watch (in zone)	the fundamentals are the best in the sweep (net income nearly quadrupled in two…	2026-10-01	-2.7%
$HUT	pass	reopen on a financed capacity deal that closes the gap between $160M of cash and…	2026-10-01	-20.3%
$KGS	buy (invalidation?)	the sleeper — record Q1, raised full-year guidance to include the Distributed Power…	2026-08-15 (overdue)	-18.0%
$MXL	watch (in zone)	wire-flagged inflection but already a 4.5x over the year and −16% this week on no…	2026-08-15 (overdue)	-16.6%
$OKTA	pass	the rotation's confirming leader — but RSI 78 and 3% off its high is chasing; reopen…	2026-09-15	-2.7%
$TER	buy (in zone)	the −21% week has no company event behind it — Q1 revenue rose 87% with a 21% EPS…	2026-08-15 (overdue)	+4.2%
$WDAY	watch	the earnings proof-point of the rotation (beat + raised subscription guide) but…	2026-09-15	+26.6%
$SKHY	watch (in zone)	first clean post-debut base — not the open (debut ~2026-07-10)	2026-09-01 (overdue)	-12.6%
$ZM	watch (in zone)	2 consecutive quarters of accelerating revenue; base over $92	2026-09-01 (overdue)	+16.0%
$STX	buy	own the cleanest un-hyped inflection — nearline-HDD margins compounding 23%→32% over…	2026-09-01 (overdue)	-5.3%

A desk call is an authored stance from a published report; entry and invalidation conditions are human-read, and the full ledger lives at /calls.

30d vs SPY is the raw name-vs-SPY move since the call — for trim/sell calls a NEGATIVE number means the call worked (the name fell after it).

From the Feeds

Curated picks from the last 7 days of the X / Reddit / Discord / web sweep — items the desk read and kept, not the raw capture firehose. Source: -pick- (type: curated-find).

web stockanalysis.com — Elmet — a $450M Department of War committed investment in US and allied tungsten supply $ELMT · link
- The single largest move on the board today (+32.8% on 41.5x average volume) and the only one with nothing to do with AI. A committed government investment of this size in tungsten capacity is a critical-materials onshoring datapoint, not a defense-contractor headline: tungsten sits upstream of armour, penetrators, cut…
𝕏 @ChurchillWw — Winston — Permian output nearly quadrupled on flat completion counts because laterals went from 6,149 ft to 10,867 ft · link
- With Brent back over 100 dollars this week, the rig-count read on US supply response is the wrong instrument: completions have held near 6,000 a year since 2022 while output nearly quadrupled on lateral length alone. Cited to an EIA release, so it is checkable.
𝕏 @mvcinvesting — M. V. Cunha — Nebius management at Goldman: demand visibility stretches to 24+ months, older GPUs stay economically relevant $NBIS $CRWV $PLTR $MSFT $META · link
- A readback of named management statements on a focus-lane name: demand visibility moved from about 18 to 24-plus months, customers are booking capacity for the first half of 2028, and the GPU-obsolescence bear case gets a direct rebuttal (a waiting list for older-generation chips). Read against the AI-capex digestion…
𝕏 @RichTerry123 — Terry — Citi Global TMT readout: NAND TAM $50B to $500B by 2027, AMD CPU TAM $60B to $220B, optical testing capacity about 100x short $SNDK $MU $AMD $LITE $COHR $SKHY · link
- One conference readout that touches three live theses at once: SanDisk's contract structure (half of shipments now, two-thirds by 2028, gross margin near 80% at a floor price) is the memory pricing-discipline mechanism, and the CPO testing-capacity figure reframes the optical bottleneck as a test-and-qualification pro…
𝕏 @aleabitoreddit — Serenity — HBM scarcity has pushed Chinese AI accelerator prices up 20-50% in two months $MU $SKHY · link
- A checkable data point that memory tightness now shows up in downstream accelerator pricing, not only in DRAM contracts: Huawei's Ascend 950DT quoted 20-50% higher and Cambricon's 690 20-30% higher than two months ago. The author discloses a long memory position, and the Reuters grey-market claim is second-hand until…
𝕏 @SemiAnalysis_ — SemiAnalysis — the AI trade's third derivative is ABF substrate equipment, chemistry and film, not the substrate makers · link
- The cleanest physics-down chain captured this week: package bodies grew from 58x55mm on Hopper to about 95x98mm on Rubin and build-up layers from 10-14 to 24+, so wet-process steps, lamination steps and adhesion chemistry scale with substrate complexity rather than unit count. A test of whether substrate coverage stop…
𝕏 @CKCapitalxx — CV Research via CK Capital — AI power loss scales with current squared, not watts, and one vendor transforms instead of switching $VICR · link
- Reframes rack power in the unit that binds, amps rather than watts, and puts a number on it: moving the same chip's power at 48 volts instead of 6 cuts the loss 64-fold. First-half bookings of 414 million dollars against 211 million shipped says the constraint is the factory, not demand. Feeds the last-six-inches leg…

Filings

NEW: $MSFT 4 filed 2026-09-15 (period 2026-09-15)
NEW: $MSFT 4 filed 2026-09-15 (period 2026-09-15)
NEW: $MSFT 4 filed 2026-09-15 (period 2026-09-14)
NEW: $NET 4 filed 2026-09-15 (period 2026-09-15)
NEW: $NET 4 filed 2026-09-15 (period 2026-09-14)
NEW: $IONQ 4 filed 2026-09-15 (period 2026-09-11)
NEW: $IONQ 4 filed 2026-09-15 (period 2026-09-11)
NEW: $IONQ 4 filed 2026-09-15 (period 2026-09-11)
NEW: $QBTS 8-K filed 2026-09-15 (period 2026-09-15)
NEW: $HQ 4 filed 2026-09-15 (period 2026-06-12)
NEW: $HQ 4 filed 2026-09-15 (period 2026-06-12)
NEW: $HQ 4 filed 2026-09-15 (period 2026-03-19)
…and 172 more in the source JSON.
Last 14 days: $MSFT 4 (2026-09-15); $MSFT 4 (2026-09-15); $MSFT 4 (2026-09-15); $NET 4 (2026-09-15); $NET 4 (2026-09-15); $IONQ 4 (2026-09-15); $IONQ 4 (2026-09-15); $IONQ 4 (2026-09-15); ….

Breadth And Movers

Price truth: *; primary summary date 2026-09-15. Row dates: 2026-09-16: 11, 2026-09-15: 2495.

Summary coverage: 2495/2506 rows at 2026-09-15; 1101 unique symbols after de-duplication.
Non-derivative unique-symbol breadth: 364 up, 720 down, 4 flat across 1088 names; median 1D change -0.6%.
Market-pulse breadth: 11 up, 45 down, 0 flat; median 1D change -0.5% from market-pulse.

Top gainers by 1D change (filtered to price >= $1, dollar volume >= $50M, finite RSI; daily-reset leveraged and synthetic-income funds excluded — their print is a geared restatement of an underlying, not a company move):

Symbol	1D	7D	30D	RSI	Signal	Price	Source
$SWKS	+13.6%	+19.4%	+29.3%	71.1	Overbought	$90.00	semis
$SDGR	+12.1%	+16.1%	+32.2%	70.7	Overbought	$23.25	biotech-capital-cycle
$TEM	+10.7%	+7.1%	+32.1%	62.0	up	$68.85	ai-scan
$FPS	+9.5%	-2.9%	-20.9%	45.5	neutral	$31.36	ai-power
$RVTY	+9.1%	+10.3%	+20.0%	70.8	Overbought	$140.19	biotech-capital-cycle

Top laggards by 1D change (same filter):

Symbol	1D	7D	30D	RSI	Signal	Price	Source
$ENVA	-23.4%	-23.1%	-34.6%	21.2	Extreme oversold	$173.61	monster-discoveries
$ARWR	-12.4%	-17.0%	-18.4%	25.3	Oversold	$70.67	monster-discoveries
$WING	-12.1%	-7.9%	-20.0%	34.9	Oversold	$100.84	livestock-disease
$CRCL	-11.4%	-10.3%	+20.5%	49.9	up	$86.30	financials
$COIN	-10.1%	-3.8%	+15.9%	49.2	weak-up	$172.11	crypto

Excluded as derivative wrappers (8): $MSTY -4.4%, $TNA -2.0%, $TQQQ -2.0%, $UPRO -1.4%, $SPXL -1.4%, $SOXS -1.2%, $SOXL +1.2%, $TECL -0.5% — read these in the tape scans, where leverage and the underlying travel with them.

Targets In Zone

Target	Anchor date	Tickers	Mechanical status	Level
ARM entry-zone — support shelf <$166.15	2026-08-28	$ARM	APPROACHING — $241.83 is 45.5% above under $166.15; waiting for the pullback	<$166.15
AVGO entry-zone — support shelf <$352.12 / 200-day test	2026-08-28	$AVGO	IN ZONE — $339.27 under $352.12 and still falling (trend down)	<$352.12
AVAV profit-target — $276.00	2026-08-14	$AVAV	APPROACHING — $156.99 is 43.1% below the $276 target, trend strong-down	$276.00
UMAC profit-target — $45.00	2026-08-14	$UMAC	APPROACHING — $23.03 is 48.8% below the $45 target, trend weak-down	$45.00
UMAC stop-loss — $18.50	2026-08-14	$UMAC	HOLDING — $23.03 is 24.5% above the $18.50 stop	$18.50
GDX profit-target — $115.00	2026-08-08	$GDX	APPROACHING — $94.13 is 18.1% below the $115 target, trend up	$115.00
GDX stop-loss — $85.00	2026-08-08	$GDX	HOLDING — $94.13 is 10.7% above the $85 stop	$85.00
NVTS entry-zone — $8-$10	2026-07-31	$NVTS	APPROACHING — $10.81 is 8.1% above $8–$10; waiting for the pullback	$8-$10

Convergence Leaders

Stocks in projection: 661; convergentCount 10; divergentCount 7.

Symbol	Score	Scans	Bull	Neutral	Latest signal date
$AMD	7	5	4	1	2026-09-15
$XBI	6	4	3	1	2026-09-15
$IBB	6	3	3	0	2026-09-15
$MRVL	5	6	4	2	2026-09-15
$OKTA	5	3	3	0	2026-09-15
$VRTX	5	3	3	0	2026-09-15
$BE	4	5	4	1	2026-09-15
$BIIB	4	3	3	0	2026-09-15

The Desk Archived issue, published Sep 15, 2026 . Only the modules that are actually true for this date are shown — what changed since the prior issue, the scans it rests on, and the catalysts in its week. The desk's live state (calls, paper book, alarm board, tape internals) belongs to today, not to this issue, so it is not replayed here: see Calls, Positions and Tape.

Conditions

The market climate this issue was written in — frozen from its own date by design. Every day's card, in order, is on Conditions.

Indexes · 7d: SPY-1.1%QQQ-1.9%IWM-3.2%RSP-1.3%
Volatility: VIX 17.2NORMAL · 1d +0.6%No fire-sale trigger — needs a ≥30% one-day spike
Rotation · 30d strength: 24 in / 83 outEach side counts the desk's tracked theme watchlists (122 ranked) by the 30-day median relative strength of their member stocks vs SPY — shown in RS points. Any ETFs listed are trade handles for the theme, not the measurement.
Credit · 7d: HYG-0.9%LQD-1.1%IEF-1.4%Orderly credit = the selling is positioning, not a credit event
Hard assets · 7d: GLD-1.4%USO+10.8%COPX-10.4%Gold · oil · copper miners

Rotation board Show all 107 themes

Rotating in RS vs SPY

Crypto +21.3

Tracked ETFs IBIT GBTC ETHE BITO BITQ
Food Security +12.2

Tracked ETFs MOO
Canadian OG +10.9

Tracked ETFs EWC XLE
Trace Iran War Second And Third Order Effects +10.4
Hard Assets +6.5

Tracked ETFs IBIT GBTC GDX GDXJ SIL TLT IEF
Cybersec +6.1

Tracked ETFs HACK BUG CIBR
Biotech Capital Cycle +5.4

Tracked ETFs XBI
Volume Setups +4.8
Trace Glp1 Manufacturing +4.7
Ark +4.7

Tracked ETFs ARKK ARKW ARKG ARKF ARKQ ARKX
Geopolitical +4.7

Tracked ETFs XLE OIH XOP GDX TLT ITA PPA
Healthcare +4.6

Tracked ETFs XLV
IBB +4.2
Healthcare +3.7

Tracked ETFs XLV
Government Compute +3.7
Energy +3.7

Tracked ETFs XLE XOP
Mag7 +3.6

Tracked ETFs MAGS
Biotech +3.2

Tracked ETFs XBI IBB
Watchlist +2.7
Tech +2.7

Tracked ETFs XLK
Cloud SAAS +2.5

Tracked ETFs CLOU SKYY
Cloud ETFS +2.5

Tracked ETFs IGV CLOU SKYY
Faang +2.2
Thebuildout Lithium Battery Metals +2.1

Rotating out RS vs SPY

Optical Supply Chain -19.8

Tracked ETFs LAZR
Drone Defense -19.2

Tracked ETFs ITA
Thebuildout Semiconductor Test Burn In Equipment -18.1
WFE Test Metrology -18.1
Quantum Computing -17.5

Tracked ETFs CQTM QTUM
Thebuildout Power Supplies Psu Power Shelves -16.9
Thebuildout Etch Equipment -16.7
Nearline Storage -16.6

Tracked ETFs DISK
Thebuildout Cmp Slurries Consumables -15.8
Thebuildout Advanced Packaging Equipment -15.6
Thebuildout Deposition Equipment -15.1
Space -14.8

Tracked ETFs ARKX
Thebuildout HBM Memory -14.5
Thebuildout Metrology Inspection -14.5
Thebuildout Lithography Equipment -14.4
Thebuildout Specialty Gases Process Chemicals -14.2
Neoclouds -13.9
Humanoid Robotics -13.8

Tracked ETFs BOTZ
Thebuildout Package Substrate Interposer Ecosystem -13.2
Thebuildout Glass Core Panel Level Packaging -12.8
Thebuildout Co Packaged Optics CPO -12.2
Thebuildout Power Distribution Pdus Busways -11.9
Thebuildout Ems Contract Electronics Manufacturing -11.9
Supply Chain Traces -11.9
Thebuildout Transformers Grid Interconnect -11.9
Grid Buildout -11.8

Tracked ETFs GRID
Spacex S1 Supply Chain -11.8

Tracked ETFs ARKX
Defense Contractors -11.7

Tracked ETFs ITA PPA
Thebuildout Fuel Cells Alternative Dc Power -11.5
Thebuildout Data Center Fiber High Speed Cabling -11.2
Thebuildout Eda Software -11.2
AI Power -11.1

Tracked ETFs WGMI
Thebuildout Semiconductor Bonding Interconnect Materials -11.1
Thebuildout Advanced Packaging 2d3d Leaders -11.1
Thebuildout Semiconductor Ip Licensors -11.0
Nuclear Fuel Cycle -10.7

Tracked ETFs NUKX URA URNM
Thebuildout Ups Energy Storage Data Centers -10.7
Thebuildout Data Center Power Semiconductors -10.6
Thebuildout Natural Gas Turbines Dc Power -10.3
Thebuildout China AI Semiconductor Stack -10.3
Robotics -10.2

Tracked ETFs BOTZ ROBO
Airlines -10.0

Tracked ETFs JETS
Alt Managers -9.7

Tracked ETFs PSP
Travel Leisure -9.5

Tracked ETFs JETS
Thebuildout Data Center Thermal Management -9.3
Electricity -9.3

Tracked ETFs GRID
Thebuildout Trailing Edge Logic Specialty Foundries -9.2
Thebuildout Racks Chassis Mechanical Infrastructure -9.0
Thebuildout Industrial Robotics Automation -8.5
Cultural Thesis -8.3
Thebuildout Semiconductor Fab Construction Engineering -8.1
Retail -7.8

Tracked ETFs XRT
Thebuildout Connector High Speed Interconnect -7.4
AI Infrastructure -7.4

Tracked ETFs AIQ SMH
Thebuildout AI Sensors Perception Hardware -7.3
Thebuildout Data Center Networking Silicon -7.1
Thebuildout Custom AI Silicon Hyperscaler Asics -7.0
Thebuildout Optical Transceivers Modules -7.0
Consumer -6.9

Tracked ETFs XLY
Web Cloud -6.8

Tracked ETFs SKYY
EV Clean Energy -6.8

Tracked ETFs LIT DRIV KARS TAN ICLN
Thebuildout High Speed Pcbs Server Networking -6.7
Livestock Disease -6.5
CPU Shortage Supply Chain -6.3

Tracked ETFs SMH
Semis -6.1

Tracked ETFs SMH SOXX
Thebuildout Dram Memory -6.1
Thebuildout AI Data Center Operators Neoclouds -5.7
Thebuildout Renewable Energy Hyperscaler Ppas -5.3
War Sensitivity -5.2

Tracked ETFs COPX JETS UAE ITB INDA
Thebuildout Grid Infrastructure Transmission -5.1
China Tech -4.9

Tracked ETFs KWEB FXI ASHR
Memory -4.8

Tracked ETFs DRAM EWY DISK
Thebuildout Nuclear Energy Data Centers -4.7
Thebuildout AI Storage Data Pipeline -4.3
Watching -3.8
Defensive -3.8

Tracked ETFs XLP XLU
Thebuildout Specialty Electronic Gases -3.5
Thebuildout Humanoid Robots Embodied AI -3.3
Thebuildout Autonomous Vehicles Self Driving -3.3
AI Infra -3.3

Tracked ETFs AIQ SMH
Thebuildout Data Center Switch Nic Vendors -2.8
Lazarus -2.1
Thebuildout Nand Flash Memory -2.1

Each side counts the desk's tracked theme watchlists (122 ranked) by the 30-day median relative strength of their member stocks vs SPY — shown in RS points. Any ETFs listed are trade handles for the theme, not the measurement.

Frozen snapshot — numbers are as of 2026-09-15 by design; the dated strip of these cards is the climate history.

This Week's Catalysts

Recent prints come from this issue's frozen record; upcoming rows are calendar entries dated 2026-09-15 through 2026-09-21. Curated big events and tracked earnings are visible; the full print calendar stays behind the fold.

No curated big-event catalysts on file for this week.

All earnings & dividend prints this week (5)

Sep 15 earnings FPS FPS earnings — 2026-09-15
Sep 16 earnings ALMU ALMU earnings — 2026-09-16
Sep 21 earnings ABVX ABVX earnings — 2026-09-21
Sep 21 dividend AVGO AVGO dividend — 2026-09-21
Sep 21 dividend VST VST dividend — 2026-09-21