Healthcare was the best place to be this week. The sector fund rose 1.83% while the S&P 500 proxy fell 0.34%, and it was the only sector on the desk's macro board to post a materially positive week besides technology. Inside the cut the strength was real and broad: $GH +13.98%, $DXCM +7.61%, $MRNA +6.99%, $TMO +6.83%. Two names arrived overbought — $ATRC at RSI 77.7 and $ITGR at 75.9 — the first overbought prints this scan has recorded. Against that, $CVS fell 6.15% and dropped 13.5 RSI points into the oversold band, the sharpest single-name reversal in the cut, and $ISRG's 6.55% bounce lifted its RSI to 61.2 without moving it off a -9.75% year or closing a 13.6% gap below its 200-day.

Data as-of the 2026-09-18 close (Friday's settled session) — every name in this cut carries a fresh bar.

This reads the broader healthcare universe, consistent with the prior scan; it now carries 24 names, two more than last week.

Healthcare outperformed by a wide margin in a week the broad market spent digesting a rate increase. The sector fund closed $168.39, up 1.83%, with a +22.49% year and a price 8.0% above its 200-day; the S&P 500 proxy fell 0.34% over the same five sessions and every other sector fund on the macro board except technology finished the week negative. That is unusual enough to matter on its own.

The gains were concentrated in diagnostics, tools and devices rather than in large-cap pharma. $GH led at $179.38, up 13.98% on the week, 9.82% on the month and 205.07% on the year, sitting 49.1% above its 200-day — the strongest long trend in the cut by a distance. The desk holds no news file for the name, so the driver is simply not on the record here, which is a coverage gap rather than a finding. $DXCM rose 7.61%, $TMO 6.83% and $MRNA 6.99%, and $ISRG added 6.55%.

Two new names arrived already extended. $ATRC closed $58.10 at RSI 77.7, up 22.03% on the month and 101.74% over three months, 10.9% above its 20-day and 64.0% above its 200-day — the tape's own label for that shape is parabolic. $ITGR closed $126.28 at RSI 75.9, effectively at its 20-day and 0.41% from its 52-week high. The $ATRC news file, pulled September 16, carries nothing newer than late July, so no driver is established for the run; there is no news file for $ITGR at all. Both are trends that are working and prices that are stretched — two different things.

$CVS is the week's break: $88.84, down 6.15%, RSI 43.1 to 29.6, now 5.8% below its 20-day. The long test still passes but only barely — a +19.38% year, down from +26.8% a week ago, and 1.8% above its 200-day, down from 8.9%. Its news file was last pulled July 7, so nothing on the desk explains the move, and no event is filed for it this week. $HROW fell 4.06% with a -20.56% month, and $SYK finally stopped sliding (-0.16% on the week after a -19.08% month) but remains 17.7% below its 200-day with a -27.19% year. $ZTS is still the cut's worst structural read at -51.46% on the year and 29.2% below its 200-day.

$ISRG deserves its own line because the RSI is misleading. It rose 6.55% to $393.33 and prints 61.2 — a number that would look healthy anywhere else on this board. But the name is 13.6% below its 200-day with a -9.75% year and an alpha of -24.77, which is the same broken long trend this scan has flagged for seven straight weeks. A strong week inside that shape is a bounce until the one-year number turns.

• The sector flipped from laggard to leader. The sector fund went from -3.6% the prior week to +1.83% this week, RSI 41.0 → 49.8, against a 0.34% decline in the S&P 500 proxy.
• $GH surged into the cut's strongest chart. RSI 45.6 → 63.1, price $157.38 → $179.38, +13.98% on the week; year-over-year return improved from +177.1% to +205.07%.
• $CVS reversed hardest. RSI 43.1 → 29.6 (-13.5), price $94.66 → $88.84, -6.15% on the week; the gap above its 200-day collapsed from +8.9% to +1.8%.
• $DXCM and $TMO both jumped more than 12 RSI points. DXCM 40.4 → 58.5 on +7.61%; TMO 54.8 → 67.6 on +6.83%, now the cut's highest print among the established members.
• $ISRG bounced without turning. RSI 48.1 → 61.2 on a 6.55% week — still 13.6% below its 200-day with a -9.75% year, its seventh straight scan failing the long test.
• $SYK's slide stopped. RSI 27.8 → 31.3, -0.16% on the week after two scans of double-digit declines; the month is still -19.08%.
• $AMGN and $LLY both recovered. AMGN: RSI 31.5 → 39.7, +2.2%. LLY: 35.4 → 47.2, +3.34%.
• The cut got its first overbought names. $ATRC (77.7) and $ITGR (75.9) entered the universe this week; no name printed above 70 in the prior scan.
• The oversold band shifted rather than shrank. Seven names at RSI 25-40 versus six a week ago, but the composition changed — $CVS and $ZTS in, $LLY out.
• No stale bars this scan — every name carries a fresh 2026-09-18 close. Universe grew from 22 to 24 tickers with the addition of $ATRC and $ITGR.

RSI is a fourteen-session stretch gauge: under 30 oversold, over 70 overbought, over 75 extended. The one-year return and the distance to the 200-day average are what decide whether a name is in a pullback or a downtrend, and in this cut they contradict the RSI in both directions. $ISRG prints 61.2 on a broken long trend; $CVS prints 29.6 on one that still (barely) passes. Five names fail the long test outright — $ISRG, $SYK, $ZTS, $HROW and $ABT, all below their 200-day with negative years. Two more, $MDT and $VEEV, carry negative years while trading above their 200-day, which is the ambiguous middle. Everything else in the cut is above its long average with a positive year, which is why the sector's week reads as strength rather than a relief rally. $ATRC and $ITGR are the opposite problem: intact trends at stretched prices.

None.

$CVS (29.6), $HROW (30.5), $SYK (31.3), $ZTS (36.6), $UNH (36.9), $ABT (37.8), $AMGN (39.7) — seven names. Only $UNH and $AMGN pass the long test (positive years, above their 200-day); those are pullbacks. $CVS passes by the thinnest margin in the cut (1.8% above its 200-day) and is deteriorating fast. $HROW, $SYK, $ZTS and $ABT all fail both legs — downtrends, not discounts.

• Failing the long test despite a healthy RSI: $ISRG (61.2 with a -9.75% year, 13.6% below its 200-day) — the clearest RSI-versus-trend contradiction on the board.
• Negative year, above the 200-day: $MDT and $VEEV — the ambiguous middle; $VEEV is 30.6% above its long average with a -6.76% year, which is a name that ran and then stalled.
• Pullback, trend intact: $VRTX, $LLY, $XLV, $BIIB, $PFE — all above their 200-day with positive years, trading at or below their 20-day.
• Healthy and working: $JNJ, $MRK, $DXCM, $GILD, $GH, $TMO — positive years, comfortably above their 200-day, above or at their 20-day.
• Extended: $ATRC (77.7, 10.9% above its 20-day and 64.0% above its 200-day) and $ITGR (75.9, 0.41% from its 52-week high) — working trends at stretched prices.
• Extreme move, high variance: $MRNA — up 505.3% on the year, 155.7% above its 200-day, still down 11.66% on the month.

• $CVS lost 6.15% in a week and its cushion above the 200-day shrank from 8.9% to 1.8%. That line, about 1.8% below Friday's close, decides whether this is a pullback or the next breakdown in the cut — and the desk's last news pull on the name is from July.
• $GH rose 13.98% with no news file on the desk at all. The move is real on the tape; the reason is a coverage gap, and it should be filled before the strength is treated as fundamental.
• $ISRG has now spent seven scans below its 200-day. A 6.55% week took the RSI to 61.2 without touching the -9.75% year. Watch for a reclaim of the 200-day, which is the only thing that would make this a turn.
• $ATRC at RSI 77.7 and 64.0% above its 200-day is the most stretched name this scan has carried. The question is whether it consolidates sideways or gives back the 22.03% it added this month.
• $SYK stopped falling this week for the first time in three. Whether that becomes a base or a pause inside a -27.19% year is the cut's most consequential unresolved question after $CVS.

• Tape data (price, RSI, moving averages, returns): pre-computed summaries as of the 2026-09-18 close — healthcare.
• Cross-sector comparison (healthcare the best sector fund of the week against a falling index): market-pulse.
• News checks with nothing on this week's move: latest (pulled 2026-09-16, nothing newer than late July), SYK (pulled 2026-09-11, predates the move), CVS (pulled 2026-07-07, predates the move), ZTS (pulled 2026-04-29, a failed pull that stamped a rate-limit error — no coverage at all). No news file exists on the desk for $GH, $ITGR or $HROW. Event record research/stock-events/ checked for the 2026-09-11 to 2026-09-18 window: only LAES, FPS and ALMU earnings are filed, none in this cut.
• Prior scan for comparison: 2026-09-11-healthcare-scan.