Data as-of the 2026-08-28 settled close. Numbers read directly from defense-contractors — no prose math.

The synchronized whole-book weekly decline that hit this sector on the prior scan has not repeated — most names are roughly flat to modestly negative on the week — but the split between intact-trend names and genuinely-broken names sharpened underneath that calm. LMT, RTX, GD, ITA, and GE are all positive on the trailing year and sitting above or near their own 200-days — deep pullbacks inside still-intact trends. LHX and BA both got measurably worse on the trailing year this scan (LHX -5.13%, BA -11.15%), NOC remains negative (-7.2% 1Y), and BWXT stays in a confirmed collapse regime (-7.83% 1Y, 21.0% below its 200-day). LEU is the sharpest single-name move: a -9.75% one-day drop flipped its trailing year from positive to -16.05%. TTMI is the reversal story — its 7-day change flipped from -21.05% to +7.38%, closing most of the gap to its 200-day.

By business line, not by this week's move: LMT (missile defense, F-35, PAC-3) and RTX (Raytheon missiles, Pratt & Whitney engines) are the two broadest primes; NOC carries the B-21 bomber and space/submarine programs; GD holds submarines, land systems, and Gulfstream business jets; LHX supplies communications, sensors, and electronic warfare; BA's defense unit sits alongside a commercial-aviation business the ticker also carries. ITA and PPA are broad defense-sector baskets; DFEN is a leveraged (3x) version of the same basket — flag that on business-quality grounds regardless of the technical read, since leveraged products decay structurally and are not a trend-hold vehicle. LEU (Centrus Energy) is nuclear-fuel enrichment, not a classic prime; BWXT builds naval nuclear reactor components; TTMI manufactures PCBs used across defense electronics; GE Aerospace makes jet engines for both commercial and military airframes. None of this explains the individual moves below — see the news-check notes under each name.

No name in this book is oversold (<30) or overbought (>70) on RSI. LHX (34.1), BWXT (35.9), DFEN (36.2), and PPA (36.4) are the softest reads, all in the 30-40 approaching-oversold band. LEU (47.4) and RTX (47.9) sit at the firmer end. Unlike the prior scan, the 7-day window is no longer uniformly negative: TTMI is up +7.38% on the week while the rest of the book ranges from roughly flat (LMT +0.03%, RTX +0.85%) to modestly down (DFEN -6.03%, LEU -5.65%) — the synchronized whole-book decline from two scans ago has broken up.

Any "war premium" read into this book has to be dated correctly: the Strait-of-Hormuz disruption and the March Iran-war OPEC production cut circulating in the macro news lane are background items from the spring, not fresh catalysts, and shouldn't be read as live. What the trailing-year data shows instead is a standing, multi-year defense-budget cycle: LMT (+23.60% 1Y), RTX (+31.78% 1Y), GD (+16.75% 1Y), ITA (+16.82% 1Y), PPA (+13.84% 1Y), DFEN (+12.01% 1Y), and GE (+24.12% 1Y) are all positive over the trailing year and mostly above their own 200-days — a premium that predates and doesn't depend on any single headline. NOC (-7.20% 1Y), LHX (-5.13% 1Y), and BA (-11.15% 1Y) are the counter-evidence: three primes genuinely underperforming on a 1-year view despite sitting in the same sector, and BA's and LHX's trailing-year numbers both got worse versus the prior scan — the "premium" isn't uniform, and it's narrowing further for the weakest names, not stabilizing.

• 🔍 Watch — LMT / RTX / GD / ITA / GE (RSI 41.7-47.9, all positive 1Y and at or above their 200-day): the sector's synchronized weekly decline has broken up and these names sit on intact multi-year trends. GD's nearest support shelf is $351.44 (currently $379.32); RTX's is $199.87 (currently $211.71).
• ⚠️ Avoid / leveraged — DFEN ($67.73, RSI 36.2): the 1Y gain nearly halved versus the prior scan (+28.71% → +12.01%) as the underlying basket cooled; leverage decay remains a structural ceiling on this vehicle regardless of the sector call.
• 🔍 Watch — trend under test, worsening — LHX ($262.82, RSI 34.1, no support shelf on file), BA ($209.82, no support shelf on file): both flipped further negative on the trailing year this scan (LHX -3.40%→-5.13%, BA -4.57%→-11.15%) — genuinely deteriorating, not just a weak week. News pulled 2026-07-31 for LHX predates this move; nothing on file explains the acceleration — cause unknown.
• 🔍 Watch — trend under test — NOC ($545.57, no support shelf on file), BWXT ($152.85, RSI 35.9, no support shelf on file): NOC stays negative on the trailing year (-7.20%) and 9.6% below its 200-day; BWXT remains the closest thing to a confirmed breakdown in this book, tagged collapse at -7.83% 1Y and 21.0% below its 200-day. A BWXT news file is on record from 2026-07-07 with no ok/stale receipt — treat as unconfirmed rather than "no news."
• 🔍 Watch — sharp single-day move — LEU ($175.78, RSI 47.4): a -9.75% one-day drop (change1d) flipped the trailing year from +5.07% to -16.05% and widened the 200-day gap to -17.4%, now -62.14% off its 52-week high. Centrus Energy held a Q2 earnings call on 2026-08-27 per the company's stock-events record; the fresh news pull (2026-08-27) carries the transcript listing but no article characterizing the next-session price reaction, so the exact driver of the drop isn't confirmed on file — flag the earnings-call timing as a coincidence worth tracking, not a stated cause.
• 🔍 Watch — reversal — TTMI ($118.65, RSI 43.6, nearest support shelf $99.30): the sharpest change in the book — 7D flipped from -21.05% to +7.38% and the 200-day gap closed from -6.0% to -0.2%, while the trailing year stays extraordinary (+152.99%). A news pull for TTMI failed this session (rate-limited, no fresh receipt) — the reversal's cause is unconfirmed, not "no news."