Daily Pulse

Monday, September 21, 2026 · measured after the close · a past session — jump to the latest

Market regime: Cautious · universe tone 33% bullish / 51% bearish

The tape: Trending — trending tape — hedge pairs tested at full strength here; the board runs hot what this means ▸

XLK LeadingXLC LeadingXLV WeakeningXLE LaggingXLF LaggingXLP LaggingXLY LaggingXLI Lagging

Signal events

Market regime shifted: Risk-Off → Cautious

Tide change — tailwinds and headwinds just moved

New hedge idea — Long DDOG / Short ENPH

Technology · Δ65 · both legs fresh

New hedge idea — Long JNJ / Short CVS

Health Care · Δ64 · both legs fresh

5 pairs left Hedge Ideas

mostly leader faded ? — GILD/CVS, ACN/AMAT, TGT/WMT, TGT/MDLZ, ETN/UPS · worth a review if you took one (tested exit: a 3-day Narrowing run)

SPOT weakness run ended

Pressure lifting

CL — confirmed weakness

Alpha 25, still bleeding · avoid / underweight

ENPH — confirmed weakness

Alpha 11, still bleeding · avoid / underweight

OXY — confirmed weakness

Alpha 24, still bleeding · avoid / underweight

BMY — confirmed weakness

Alpha 29, still bleeding · avoid / underweight

WDC — confirmed weakness

Alpha 19, still bleeding · avoid / underweight

Hedge ideas on the board

Long DHR / Short CVS Health Care · Δ70 · Widening↗

Long DDOG / Short ENPH Technology · Δ65 · Widening↗

Long JNJ / Short CVS Health Care · Δ64 · Widening↗

Long ETN / Short UBER Industrials · Δ63 · Widening↗

Long SMCI / Short ENPH Technology · Δ61 · Widening↗

Long ETN / Short BA Industrials · Δ61 · Widening↗

Leaders & laggards by Alpha

89TMOThermo Fisher↗ 87NETCloudflare↗ 86AAPLApple↗ 85AMDAdvanced Micro Devices↗ 85CRWDCrowdStrike↗

10STZConstellation Brands↗ 11ENPHEnphase Energy↗ 11FDXFedEx↗ 12RCLRoyal Caribbean↗ 12PEPPepsiCo↗

← 2026-09-182026-09-22 →

Back to the trading desk

Analytical tools and historical measurements for educational and informational purposes only — not investment advice or a recommendation. Past behavior, including backtested results, does not guarantee future outcomes. · Operator's Manual · Are you an AI? · © 2026 TradeMath