The biotech cohort split hard on Friday, October 2: a handful of genomics and diagnostics names ran into extreme territory ($GRAL RSI 82.0, $DNA 74.7, $ILMN 70.4) while the broad large-cap and mid-cap base slid, with $NKTR back under the capitulation line at RSI 22.0 and 26 of 40 names below their 20-day averages. What is still working: $ILMN, $MRNA and $A sit well above their 200-day averages after multi-quarter runs. What is broken: $ALNY, $IONS, $NVO and $RARE are below their 200-day averages with deeply negative years. Verify before acting that the genomics surge is not a single-cluster squeeze.

Data as of the 2026-10-02 settled close; 40 tickers, every one carrying a 2026-10-02 bar.

The top of the cohort is now a genomics and diagnostics story. $GRAL closed at RSI 82.0 after an 8.07% one-day gain and a 77.83% month; it is 94.7% above its 200-day, the most stretched name on the board, and it is new to this scan's universe. $DNA (Ginkgo Bioworks) is up 15.85% on the week and 75.68% on the month at RSI 74.7, but remains down 22.67% on the year and 29.75% below its 52-week high, so it is a violent bounce inside an unrepaired year, not a working trend. $ILMN is the quality version of the same group: RSI 70.4, +174.96% on the year, 67.8% above its 200-day, 2.54% below its 52-week high. $MRNA (66.2) and $A (61.2) have cooled out of the extreme band they held a week ago and now sit as extended-but-intact trends. News pulls on file for the names discussed here were fetched before the October 2 session closed, so they cannot speak to October 2 moves; the desk's event records were checked for October 1 to 2 and hold no filings for these names. Where a move has no driver below, the cause is unknown for that reason, not because the news was searched and came back empty.

The bottom is less about one name than about a broad large-cap drift. $NKTR fell 7.26% on the day and 23.62% on the week to RSI 22.0 and is the only capitulation print; it is 60.02% below its 52-week high and 33.4% below its 200-day. $BMRN (26.7) and $NVO (27.0) are also oversold; $NVO is down 36.47% on the year and 18.2% below its 200-day. $ALNY lost 4.96% on the day and 14.16% on the week and is down 52.34% on the year with a 34.3 RSI; that is a breakdown, not a flag. The large caps $REGN (34.9, 0.1% below its 200-day), $INCY (33.6, still +33.63% on the year), $VRTX (39.0) and $LLY (43.0) are all pulling back inside positive years.

The funds tell the same two-speed story mildly: $XBI (43.5) and $IBBQ (44.3) are below their 20-day averages but 11.2% and 11.1% above their 200-day averages with positive years of +50.53% and +37.04%, so the cohort's long trend is intact while its short trend is soft.

• Extreme band now holds $GRAL, $DNA and $ILMN. $A and $MRNA, extreme a week ago, have cooled out of it.
• Capitulation band reopened. $NKTR is back below RSI 25 after sitting just above the line a week ago.
• New entrant: $GRAL appears in this edition's 40-name universe (the prior edition covered 39).
• Breadth: 26 of 40 names are below their 20-day average, 16 below their 200-day, 16 with a negative year.
• This edition carries no week-over-week price or RSI deltas; every figure is as of the October 2 close.

RSI measures stretch over fourteen sessions: under 30 oversold, 70 and over extended, 80 and over extreme. The one-year return and the distance to the 200-day separate a pullback from a breakdown. $IMVT (RSI 28.6, +100.96% on the year, above its 200-day) is a pullback; $NKTR, $NVO, $IONS and $RARE (all below their 200-day with negative years) are trends under test or broken. This is a price-and-RSI board; it carries no insider or fundamental data, so a low RSI here is raw screen evidence, not a setup.

Tape figures below are live-bound to the desk summaries; as-of date is shown per row.

$NKTR

$BMRN, $NVO, $IMVT, $IONS, $INCY, $ALNY, $REGN, $COGT, $MDT, $KYMR, $SRPT, $RARE, $VRTX

Of the oversold group, above the 200-day with a positive year (pullbacks): $IMVT, $INCY, $KYMR, $VRTX. Below the 200-day or with a negative year (trend under test): $BMRN, $NVO, $IONS, $ALNY, $REGN, $COGT, $MDT, $SRPT, $RARE.

$BEAM, $LLY, $XBI, $DXCM, $GILD, $PTGX, $LEGN, $IBBQ, $EDIT, $BNTX, $IQV, $IBB, $AMGN, $BIIB, $DHR, $CRSP, $NTLA, $ISRG, $ABBV, $TMO, $A, $RXRX, $MRNA, $ILMN, $DNA, $GRAL

• $GRAL at RSI 82.0 is the cohort's squeeze test: a failure to hold above its 20-day would be the first sign the genomics run is exhausting; its news file (pulled 2026-09-25) does not cover the move.
• $DNA must turn its -22.67% year around, or the 75.68% month is a bounce inside a bear year.
• $NKTR: does the RSI-22 capitulation print hold or extend; there is no established cause (news pulled 2026-10-01, before the October 2 session).
• $IMVT: reclaim of its 20-day would confirm the pullback as a flag inside a working trend.
• $ALNY and $NVO: breakdowns with no floor identified; do not average into them.
• Large-cap base ($REGN, $INCY, $VRTX, $LLY): whether the drift below the 20-day stops at the 200-day.

• Tape data: pre-computed desk summary for the biotech universe, as of the 2026-10-02 close (biotech-scan).
• News receipts checked: latest (fetched 2026-09-25), NKTR (2026-10-01), DNA (2026-09-30), ALNY (2026-07-31); none covers the October 2 session. research/stock-events/ checked for 2026-10-01 to 2026-10-02: no entries for these names.
• Prior scan: 2026-09-25-biotech-scan (structure and universe only).