Performance was led by crude oil ([CL/]), which gained 1.81% over the past day. On the downside, emerging markets ([EEM]) declined 2.10%, while the Russell 2000 ([RUT]) and S&P 500 ([SPX]) fell 1.77% and 0.75%, respectively.

Domestic equities improved over the past week, though gains remained concentrated in large caps. The Russell 2000 Index ([RUT]) broke below 2900 earlier this month and is now testing support near 2840, potentially setting up for another sell signal.

Although the healthcare sector still sits in first place in our DALI sector rankings, the bullish percent for healthcare sector ([^BPECHEALTH]) continues to tick lower and now maintains a chart level of 30%, indicating that less than one third of stocks in the sector trade on a PnF buy signal.

On the earnings front, two major companies are expected to report later this month: Micron Technology Inc. ([MU] 5/5 TA Score on 9/30), Costco Wholesale Corporation ([COST] 3/5 TA Score on 9/24).

Yesterday’s research focused on the momentum outlook for Q4. Despite a weak Q3, momentum remains a market leader in 2026, with MTUM up over 26% YTD and maintaining a strong technical trend. The key question for Q4 is whether market leadership broadens again, supporting a renewed expansion in momentum opportunities.