Daily Pulse

Tuesday, October 20, 2026 · measured after the close · a past session — jump to the latest

Market regime: Risk-On · universe tone 44% bullish / 41% bearish

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

XLV LeadingXLP LeadingXLE LeadingXLB LeadingXLY LeadingXLF LeadingXLC LaggingXLK LaggingXLI Lagging

Signal events

Market regime shifted: Cautious → Risk-On

Tide change — tailwinds and headwinds just moved

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New hedge idea — Long ADBE / Short ONTO

Technology · Δ69 · both legs fresh

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New hedge idea — Long ADBE / Short NBIS

Technology · Δ67 · both legs fresh

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8 pairs left Hedge Ideas

mostly laggard recovering ? — IBM/ONTO, IBM/NBIS, RTX/ETN, ABNB/DKNG, ABNB/TSLA, GILD/HIMS… · worth a review if you took one (tested exit: a 3-day Narrowing run)

TSM weakness run ended

Pressure lifting

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SPOT — confirmed strength

Alpha 80, still building · Comm Services

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GM — confirmed weakness

Alpha 17, still bleeding · avoid / underweight

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CVS — confirmed strength

Alpha 75, still building · Health Care

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ENPH weakness run ended

Pressure lifting

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EQT strength run ended

Momentum cooling — the early reduce warning

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Hedge ideas on the board

Long ADBE / Short ONTO Technology · Δ69 · Widening↗

Long ADBE / Short NBIS Technology · Δ67 · Widening↗

Long CRM / Short ONTO Technology · Δ64 · Widening↗

Long CRM / Short NBIS Technology · Δ62 · Widening↗

Long BBY / Short GM Cons Discretionary · Δ52 · Widening↗

Long RTX / Short AXON Industrials · Δ49 · Widening↗

Leaders & laggards by Alpha

92ACNAccenture↗ 92DISDisney↗ 92VVisa↗ 91INTUIntuit↗ 91MAMastercard↗

13COHRCoherent↗ 14UALUnited Airlines↗ 13RIVNRivian↗ 14ARMArm Holdings↗ 15SCHWCharles Schwab↗

← 2026-10-19latest

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