Date reference: 28 August 2026 (latest daily stocks)
1. Overview
On‑warrant stocks across the six main LME base metals (copper, aluminium, zinc, lead, nickel, tin) total about 1.26 million tonnes, with a small daily draw of roughly 3,600 tonnes. Overall inventory remains relatively low by historical standards, with aluminium and copper particularly watched for tightness, while lead and nickel hold the largest individual stockpiles.
2. Copper
On‑warrant stock: 234,275 t
Daily change: ‑1,300 t
Recent trend: stocks have eased over the past month, with some earlier sharp daily builds now partially reversing.
Copper remains the key barometer of physical tightness. Earlier in August, inventories surged by over 30,000 t in a single day as metal was placed on warrant, but the latest data show renewed draws, suggesting that the balancing role of LME copper between regional markets (US, China, Europe) continues.
3. Aluminium
On‑warrant stock: 246,725 t
Daily change: ‑100 t
Comment: this is near the lowest level in almost two decades of data, with a steady 30‑day decline of around 6–7%.
Despite low headline stocks, the share of cancelled warrants remains modest, and spreads have tended to sit in small contango rather than strong backwardation—signalling limited near‑term squeeze but structurally lean inventory.
4. Zinc
On‑warrant stock: 97,950 t
Daily change: +75 t
30‑day change: roughly ‑2%.
Zinc stocks have oscillated, with some recent daily builds following earlier draws. Backwardation in zinc spreads has persisted even as inventory increased, indicating that nearby tightness and positioning remain important drivers rather than simple stock levels.
5. Lead
On‑warrant stock: 406,250 t
Daily change: ‑2,250 t
30‑day change: about ‑7.9%, one of the sharper drains in the complex.
Lead holds the largest single inventory among the six metals, but the recent pace of decline suggests firm end‑use demand or metal being drawn into non‑LME channels.
6. Nickel
On‑warrant stock: 268,362 t
Daily change: +48 t
30‑day change: slightly positive (~+0.8%).
Nickel stocks have been relatively stable, with small net builds over the month. Price action has been driven more by supply narratives (especially Indonesia) than by warehouse levels alone.
7. Tin
On‑warrant stock: 5,550 t
Daily change: ‑40 t
30‑day change: about ‑7.7%, making tin one of the fastest‑draining markets in percentage terms.
Tin inventory is tiny in absolute terms, so relatively small tonnage moves can materially affect spreads and perceived tightness.
8. Interpretation
Tightest headline stocks: aluminium and copper, with aluminium at multi‑year lows and copper still the main physical barometer.
Fastest percentage drains: lead and tin, both showing notable 30‑day declines.
Relatively comfortable stocks: nickel and, in absolute terms, lead, though trends matter more than levels.
Mixed zinc signal: inventory has risen at times, yet backwardation persists, pointing to unresolved nearby tightness.
Falling LME inventory—especially when combined with rising cancelled warrants and firm prices—typically signals tightening physical availability rather than guaranteeing a specific price move. Current data show a complex where aluminium and copper remain structurally lean, zinc and tin exhibit pockets of tightness, and lead and nickel provide bulk but are not immune to draws.
U.S. commercial crude oil inventories (excluding the Strategic Petroleum Reserve) increased by 0.1 million barrels from the previous week, reaching 428.9 million barrels. This level is 1% above the five‑year average for this time of year.
The Strategic Petroleum Reserve (SPR) stands at 289.7 million barrels.
2. Total Petroleum Inventories
Total commercial petroleum inventories (crude + products) increased by 0.1 million barrels week‑over‑week.
Total stocks including the SPR are 1,535.1 million barrels, while total stocks excluding the SPR are 1,245.4 million barrels.
3. Gasoline Inventories
Motor gasoline inventories fell by 2.5 million barrels and now sit 6% below the five‑year average. Both finished gasoline and blending components declined.
Breakdown from the detailed stock table:
Total motor gasoline: 206.8 million barrels
Reformulated gasoline: 14.8 million barrels
Conventional gasoline: 192.0 million barrels
4. Distillate Inventories
Distillate fuel inventories fell by 2.2 million barrels and are now 14% below the five‑year average.
Detailed breakdown:
Total distillate: 103.4 million barrels
Ultra‑low sulfur (15 ppm): 93.6 million barrels
5. Jet Fuel, Residual Fuel, and Other Products
Kerosene‑type jet fuel:45.7 million barrels (slight weekly decline)
Residual fuel oil:21.6 million barrels (small weekly increase)
Other oils:304.2 million barrels (weekly increase of 1.8 million barrels)
6. Propane/Propylene Inventories
Propane/propylene inventories increased by 2.5 million barrels and are now 32% above the five‑year average — one of the strongest inventory positions among major petroleum products.
Total propane/propylene stocks: 109.5 million barrels.
7. Supply & Demand Context
Total products supplied (a proxy for U.S. petroleum demand) averaged 20.5 million barrels per day over the past four weeks, down 3.0% from the same period last year. Gasoline demand averaged 8.9 million barrels/day, down 1.1% year‑over‑year. Distillate demand averaged 3.8 million barrels/day, down 2.2%.
Gasoline: Significant draw; inventories well below average → tighter market.
Distillates: Another large draw; inventories deeply below average → structurally tight.
Propane: Strong build; inventories far above average → comfortable supply.
Total petroleum: Essentially flat week‑over‑week.
Overall, the U.S. oil inventory picture shows tight refined product markets (gasoline, distillate) and stable crude stocks, with propane remaining exceptionally well supplied.
The latest COT data shows major repositioning across FX, commodities, and metals, driven by the U.S. Treasury bond buyback announcement and shifting rate expectations. Speculators broadly reduced USD longs, while agriculture and several metals saw aggressive buying.
A. Livestock — Lean Hogs, Feeder Cattle, Live Cattle
All three show extreme net‑short positioning, with Lean Hogs and Feeder Cattle at 1st–2nd percentile levels.
Lean Hogs
Net short: -65,921
1st percentile → most extreme short in dataset.
Feeder Cattle
Net short: -5,505
2nd percentile → persistent bearish stance.
Live Cattle
Z‑score: -2.54 → statistically extreme short.
B. Gold & Silver — Commercials at 0%
Commercial positioning for both metals sits at 0%, meaning commercials are heavily short relative to their 26‑week range. Prices fell despite speculative long additions.
Gold
Commercial index: 0%
Price: ‑3.38%
Silver
Commercial index: 0%
Price: ‑2.78%
This combination often signals downside risk or overextended speculative longs.
C. Japanese Yen (JPY)
JPY remains the only major currency with continued speculative selling, driven by rate‑differential pressure. Speculative net short: ‑63,298 contracts.
4. Mixed / Neutral Signals
Crude Oil (WTI)
Commercial index: 63% (upper half)
Specs still net long (+123k) but price fell 3.69% → mixed signal.
Each stock carries four readings: Long/Medium/Short-Term Level (0–100 percentile scores reflecting trend strength over long, medium, and short lookback windows — the higher the score, the closer price is trading to its trend highs) and Momentum (a rate-of-change reading, roughly the % pace of the most recent price move). Four setups were screened for, quantitatively, across the whole universe:
Setup
Definition used
Buy – Trend
Long, Medium and Short Level all ≥65 with positive Momentum — a stock already trending up on every timeframe, still accelerating
Buy – Reversal
Long Level ≤40 (weak/base-building over the long run) but Medium ≥55 and Short ≥60, with Momentum ≥8 — a stock flipping from laggard to leader
Sell – Trend
Long, Medium and Short Level all ≤35 with negative Momentum — an established downtrend still accelerating lower
Sell – Reversal
Long Level ≥60 (was a long-term leader) but Medium ≤40 and Short ≤35, with negative Momentum — a former leader topping out
Thinly-traded SPAC shells and pinned-at-100/zero-momentum illiquid names were screened out so the picks below are tradable operating companies. Sectors are ranked by combined Buy-Trend + Buy-Reversal count — i.e. the sectors showing the broadest bullish participation come first. This is a systematic screen of the raw numbers only (no fundamentals, news, or valuation work), so treat it as a shortlist for further due diligence, not a final call — and it reflects a single snapshot in time, not a live feed.
Sector ranking (bullish signal count)
Rank
Sector
Buy-Trend
Buy-Reversal
Sell-Trend
Sell-Reversal
1
Software and Computer Services
63
14
65
7
2
Pharmaceuticals, Biotechnology & Cannabis
24
23
87
40
3
Investment Banking & Brokerage Services
27
3
30
12
4
Oil, Gas and Coal
18
4
12
16
5
Industrial Support Services
13
1
26
6
6
Banks
13
0
6
29
7
Technology Hardware and Equipment
9
3
31
3
8
Medical Equipment and Services
6
5
34
8
9
Chemicals
7
2
8
2
10
Non-life Insurance
8
0
6
2
1. Software and Computer Services — broadest bullish sector
Buy – Trend: OKTA (Okta Inc) — L 95.3 / M 78.8 / S 88.8, Momentum +22.7 All three timeframes are aligned bullish and momentum is the strongest of any large, liquid name in the sector — a trend that’s still speeding up rather than stalling. Runner-up: GEN (Gen Digital), near-record levels on all three timeframes with momentum re-accelerating (+5.4).
Buy – Reversal: BZAI (Blaize Holdings) — L 3.3 / M 78.0 / S 87.8, Momentum +22.1 A textbook base-to-breakout profile: long-term score still depressed but medium- and short-term trend has flipped hard bullish with strong momentum — an AI-compute name catching a fresh bid. Caution: DAIC and LHSW screened even higher on momentum (+218% and +43%) but are illiquid micro-caps where such extreme readings are more likely data noise than a tradable signal — treat as speculative only.
Sell – Trend: WETO (Wetour Robotics) — L 4.3 / M 11.5 / S 0.9, Momentum −61.9 Collapsing on every timeframe with the sector’s steepest momentum breakdown — a name in freefall, not consolidation.
Sell – Reversal: PAYS (Paysign Inc) — L 87.6 / M 24.0 / S 20.8, Momentum −7.0 Was a long-term leader (Level 87.6) but medium- and short-term trend has broken down hard — classic distribution/topping pattern in a name with real trading history, worth watching for further downside confirmation.
Buy – Trend: RNXT (RenovoRx Inc) — L 95.2 / M 91.7 / S 88.3, Momentum +17.7 Strong on all three timeframes with momentum still building — one of the cleanest continuation setups in biotech. Runner-up: BLSM (BlossomHill Therapeutics), similarly aligned with momentum +18.9.
Buy – Reversal: CAPR (Capricor Therapeutics) — L 18.4 / M 70.5 / S 82.3, Momentum +41.5 A clinical-stage cell/gene-therapy name flipping from long-term laggard to short-term leader with very strong momentum — likely catalyst-driven (data readout/news flow). HCWB (HCW Biologics) shows an even sharper reversal (Momentum +43.0) but is a smaller, thinner name — higher risk/reward.
Sell – Trend: OSRH (OSR Holdings Inc) — L 4.1 / M 4.3 / S 9.9, Momentum −66.5 The single steepest breakdown across the entire screened universe — deeply weak on every timeframe.
Sell – Reversal: SYRE (Spyre Therapeutics) — L 79.5 / M 10.6 / S 9.8, Momentum −14.9 Was a strong long-term performer, now breaking down sharply on medium/short trend with accelerating negative momentum — a former biotech leader losing its uptrend fast. CLYM (Climb Bio) is a similar topping pattern, slightly less severe momentum.
This is also the sector with by far the most bearish signals (87 sell-trend, 40 sell-reversal) — biotech’s binary, news-driven nature means the same screen that surfaces sharp reversals up also surfaces the sector’s steepest breakdowns. Position sizing discipline matters more here than anywhere else on this list.
3. Investment Banking & Brokerage Services
Buy – Trend: FRHC (Freedom Holding Corp) — L 97.8 / M 93.6 / S 92.5, Momentum +2.8 Broad, clean alignment across all three timeframes with momentum still positive — the standout non-shell name in a sector otherwise dominated by SPACs. Runner-up: BGC (BGC Group), similarly aligned with momentum +2.8.
Buy – Reversal: AVAT (Avalanche Treasury Corp) — L 3.4 / M 91.1 / S 87.8, Momentum +18.2 Sharpest reversal in the sector, but flagged as high-risk: this and the other two qualifiers (CFND, FGNX) are all digital-asset “treasury” vehicles, whose price action tends to track crypto sentiment more than operating fundamentals — treat as speculative, not a core position.
Sell – Trend: IPST (IP Strategy Holdings Inc) — L 1.0 / M 1.5 / S 1.7, Momentum −55.9 Total breakdown across every timeframe.
Sell – Reversal: FUND (Royce Focus Trust Inc) — L 91.5 / M 33.9 / S 8.9, Momentum −1.1 A former long-term leader (closed-end fund) now rolling over hard on medium/short trend — a slow-motion but confirmed topping pattern.
4. Oil, Gas and Coal
Buy – Trend: DINO (HF Sinclair Corp) — L 98.3 / M 93.2 / S 88.4, Momentum +2.5 Refiner leading the energy complex on all three timeframes, momentum still positive. MPC (Marathon Petroleum) is nearly identical; SXC (SunCoke Energy) has the fastest momentum of the three (+4.9).
Buy – Reversal: METC (Ramaco Resources) — L 25.1 / M 78.5 / S 78.2, Momentum +11.0 Metallurgical-coal name flipping from long-term weakness to a strong medium/short uptrend — both share classes (METC/METCB) qualify, a sign of genuine underlying strength rather than a single noisy print.
Sell – Trend: RCON (Recon Technology Ltd) — L 0.0 / M 1.1 / S 2.9, Momentum −45.1 Deep, uniform breakdown.
Sell – Reversal: EOG (EOG Resources) — L 81.3 / M 11.0 / S 11.0, Momentum −5.9 A major, widely-held E&P name rolling over from long-term leadership — the most significant sell-reversal signal in the sector given its size and liquidity. CNQ (Canadian Natural Resources) shows the same pattern.
5. Industrial Support Services
Buy – Trend: RVTY (Revvity Inc) — L 98.6 / M 92.7 / S 91.8, Momentum +2.6 Life-sciences/diagnostics name leading its sub-sector on every timeframe.
Buy – Reversal: QUCY (Quantum Cyber) — L 24.7 / M 67.3 / S 77.1, Momentum +10.0 The only qualifying reversal in the sector — a clean flip from weak to strong, but as the sole candidate it’s a thin, small-cap name; confirm liquidity before sizing.
Sell – Trend: SUGP (SU Group Holdings Ltd) — L 0.1 / M 0.9 / S 1.4, Momentum −60.9 Sector’s steepest breakdown.
Sell – Reversal: UNF (Unifirst Corp) — L 85.4 / M 37.0 / S 9.3, Momentum −2.0 Established uniform/workwear-services name rolling over from a long-term leadership position — a recognizable, liquid name showing the topping pattern most clearly.
6. Banks
Buy – Trend: DB (Deutsche Bank AG) — L 96.4 / M 93.5 / S 84.0, Momentum +6.1 Best-aligned major global bank, with the strongest momentum of the group. UBS (UBS Group AG) is a close second.
Buy – Reversal: none qualified. No bank screened as a fresh long-term-laggard-to-leader flip — the sector’s bullishness is entirely trend-continuation, not turnaround, right now.
Sell – Trend: SHFS (SHF Holdings Inc) — L 0.1 / M 5.8 / S 15.8, Momentum −3.0 Deep micro-cap breakdown (cannabis-banking niche lender).
Sell – Reversal: BAP (Credicorp Ltd) — L 76.4 / M 20.6 / S 4.3, Momentum −0.5 The most notable sell-reversal in Banks precisely because it’s a large, liquid, well-known Latin American banking group rather than a thin community bank — a genuine former leader now breaking down on medium/short trend.
7. Technology Hardware and Equipment
Buy – Trend: MEI (Methode Electronics) — L 84.6 / M 87.4 / S 90.4, Momentum +29.3 Best combination of full-timeframe alignment and the fastest-accelerating momentum in the sector. NSIT (Insight Enterprises) is the larger-cap, steadier alternative (Momentum +6.6).
Buy – Reversal: ENVX (Enovix Corp) — L 6.4 / M 57.7 / S 67.6, Momentum +8.8 Battery-technology name flipping from long-term weakness to a strengthening medium/short uptrend.
Sell – Trend: SDST (Stardust Power Inc) — L 0.3 / M 1.2 / S 5.0, Momentum −35.6 Sector’s sharpest breakdown.
Sell – Reversal: NVEC (NVE Corp) — L 60.1 / M 8.0 / S 18.7, Momentum −1.4 Established sensor/semiconductor name rolling over from long-term strength — smaller but liquid and well-known within its niche.
8. Medical Equipment and Services
Buy – Trend: BIO.B (Bio-Rad Laboratories, Cl B) — L 100 / M 100 / S 100, Momentum +6.8 Perfect alignment across every timeframe in a large, well-established life-sciences name, with genuine (not flat) momentum behind it.
Buy – Reversal: RXST (RxSight Inc) — L 26.9 / M 84.1 / S 95.0, Momentum +9.1 Ophthalmic-device maker flipping cleanly from long-term laggard to short-term leader. PMI (Picard Medical) shows a far more extreme momentum reading (+84%) but is a thin micro-cap — flag as a high-risk outlier rather than a core reversal candidate.
Sell – Trend: PFSA (Profusa Inc) — L 0.0 / M 2.1 / S 7.8, Momentum −46.4 Deep breakdown across all timeframes.
Sell – Reversal: HAE (Haemonetics Corp) — L 91.2 / M 13.3 / S 6.5, Momentum −6.1 Blood-management/plasma-technology leader rolling over sharply from a long-term-leadership position — the sector’s clearest large-cap topping signal.
9. Chemicals
Buy – Trend: IFF (International Flavors & Fragrances) — L 93.0 / M 86.6 / S 73.6, Momentum +2.6 Best-known, largest name in the sector showing full-timeframe alignment. IOSP (Innospec) is very similar.
Buy – Reversal: GEVO (Gevo Inc) — L 19.1 / M 73.6 / S 67.8, Momentum +9.5 Renewable-fuels name flipping from long-term weakness to a strengthening short-term uptrend, the sector’s strongest reversal momentum.
Sell – Trend: OLN (Olin Corp) — L 1.5 / M 2.6 / S 11.9, Momentum −3.8 The most prominent name in a genuine sector-wide breakdown — a large, well-known chlor-alkali/chemicals producer trading weak on every timeframe.
Sell – Reversal: CLMT (Calumet Inc) — L 85.9 / M 26.3 / S 29.9, Momentum −2.4 Was a long-term leader, now clearly rolling over on medium/short trend.
10. Non-life Insurance
Buy – Trend: GBLI (Global Indemnity PLC) — L 86.9 / M 95.6 / S 90.9, Momentum +6.0 Best-aligned name across all three timeframes. LIFE (Ethos Technologies) has the fastest momentum in the sector (+11.4).
Buy – Reversal: none qualified. As with Banks, insurance’s bullish signals are all continuation, not fresh reversals.
Sell – Trend: SLQT (Selectquote Inc) — L 3.6 / M 11.6 / S 11.6, Momentum −38.5 Steepest breakdown in the sector.
Sell – Reversal: CB (Chubb Ltd) — L 66.2 / M 10.8 / S 23.4, Momentum −0.8 The standout signal here: a global blue-chip insurer rolling over from long-term leadership — notable given its size and index weight. AON (Aon Corp) shows the same pattern.
Reading this report
Buy-Trend names are momentum-continuation plays — they’re already working; the thesis is “don’t fight the tape.” Risk is chasing an extended move.
Buy-Reversal names are the higher-reward, higher-risk turnaround plays — confirm the catalyst (earnings, data readout, corporate action) before sizing, since a percentile-score flip alone isn’t proof of a durable change in direction.
Sell-Trend / Sell-Reversal picks are shorting or trim/avoid candidates, not necessarily “cheap” — several (RCON, OSRH, SDST, PFSA, SUGP, WETO) are in freefall with momentum still accelerating lower, which argues for caution rather than bottom-fishing.
This is a quantitative screen of one data snapshot with no fundamental, valuation, or news overlay — use it to build a watchlist, then do the qualitative work before committing capital.
BUY SIDE — Bullish Trend & Reversal Sectors (ranked by breadth × momentum)
1. Investment Banking & Brokerage Services — 14 bullish names (strongest breadth in the market)
This is the standout sector: asset managers, brokers and market infrastructure names dominate the bullish list, evidence of broad institutional flow rather than one or two isolated movers.
IGG (IG Group) — Bullish Reversal. LT 40.6 → ST 83.6, momentum +5.30. Sharpest turn in the sector; short-term strength has decisively outrun the long-term base, suggesting a fresh leg higher rather than a bounce.
JUP (Jupiter Fund Management) — Bullish Reversal. LT 44.2 → ST 67.1, momentum +4.75. Asset manager recovering off a weak base, momentum still accelerating.
TCAP (TP ICAP) — Bullish Trend. 89/94/99 across LT/MT/ST, momentum +3.51. Near-maximum readings on all three timeframes — a trend with no sign of exhaustion yet.
OCI (Oakley Capital Investments) — Bullish Trend. 78/92/97, momentum +3.72. Same profile as TCAP — full alignment, strong and accelerating.
Reasoning: breadth this wide across brokers/asset managers/exchanges usually reflects a sector-wide re-rating (rates, trading volumes, M&A activity) rather than stock-specific noise — the reversal names (IGG, JUP, PLUS) are the higher-beta way to play it; the trend names (TCAP, OCI, ABDN) are the lower-risk continuation trades.
2. Software and Computer Services — 6 bullish names, best average momentum (+4.13)
CCC (Computacenter) — Bullish Trend. 100/98/99, momentum +8.20. Essentially maxed out on all three timeframes with the strongest momentum of any trend (non-reversal) name in the sector — textbook institutional accumulation.
GBG (GB Group) — Bullish Reversal. LT 8.1 → ST 79.6, momentum +4.83. One of the most extreme reversals in the whole dataset — was deeply out of favour long-term, now firmly back in favour short-term.
NCC (NCC Group) — Bullish Trend. 80/94/99, momentum +2.79. Strengthening into the short term, cybersecurity/consulting demand story.
Reasoning: CCC is the highest-conviction trend-continuation buy in the sector; GBG is the reversal play — much higher risk given how weak its long-term base was, but the momentum confirms it isn’t a dead-cat bounce.
HFD (Halfords) — Bullish Trend. 97/94/90, momentum +12.14 — the single strongest momentum reading among all trend (non-reversal) names in the entire dataset. Already strong across all timeframes, now accelerating hard.
JD. (JD Sports Fashion) — Bullish Trend. 71/73/74, momentum +5.19. Even alignment across all three timeframes, steady rather than explosive.
INCH (Inchcape) — Bullish Trend. 72/69/86, momentum +2.28. Short-term acceleration ahead of medium-term.
Reasoning: Retailers show no reversal names — this is a sector where existing winners are simply extending, which is generally the safer type of bullish signal (less risk of a false start than a reversal).
TRN (Trainline) — Bullish Reversal. LT 23.2 → ST 74.5, momentum +9.47. Very strong turn, second-highest reversal momentum in the sector list.
WIZZ (Wizz Air) — Bullish Reversal. LT 43.6 → ST 67.6, momentum +5.72. Airline recovering off a low base.
DOM (Domino’s Pizza Group) — Bullish Trend. 82/68/89, momentum +3.64.
Reasoning: this sector is reversal-led rather than trend-led — TRN and WIZZ are names that were out of favour and are now being bought aggressively; higher risk/reward than the Retailers list above.
DSCV (Discoverie Group) — Bullish Trend. 93/82/90, momentum +7.93. Strongest trend momentum in this sector.
HLMA (Halma) — Bullish Reversal. LT 22.1 → ST 80.3, momentum +4.70. Large-cap quality name turning up sharply off a weak base — worth flagging given Halma’s size and typical low volatility.
Notable single-name reversals outside the top sectors (highest momentum in the whole dataset)
VTY (Vistry Group), Household Goods/Home Construction — Bullish Reversal, LT 15.7 → ST 69.6, momentum +14.05 — the single strongest reading in the entire 350-name screen.
MRO (Melrose Industries), Aerospace and Defense — Bullish Reversal, LT 37.5 → ST 82.7, momentum +9.51.
These four sit in sectors too thin (1 qualifying name each) to call the sector strong, but the individual momentum readings are exceptional and worth a closer look on their own merits.
SELL SIDE — Bearish Trend & Reversal Sectors (ranked by breadth × momentum)
LMP (LondonMetric Property), SAFE (Safestore) — both Bearish Trend, deep in single digits/low teens short-term.
Reasoning: five REITs breaking down together points to a sector-wide issue (rate sensitivity, valuation reset) rather than idiosyncratic weakness — the reversal names (SHC, GPE) are the ones that were previously strong and are now failing, typically the more damaging signal for holders.
QQ. (QinetiQ) — Bearish Reversal. LT 62.7 → ST 11.6, momentum -3.54. Sharpest deterioration in the sector.
BA. (BAE Systems) — Bearish Reversal. LT 62.2 → ST 25.6, momentum -1.00. Notable given BAE’s index weight — a large-cap rolling over.
SNR (Senior), BAB (Babcock) — also weakening.
Reasoning: this sector also contains two of the strongest bullish reversals (MRO, and to a lesser extent AVON in the raw data) — the split (MRO up, QQ./BAE down) suggests this is stock-specific rotation within defense rather than a sector-wide call, so treat individually rather than as a blanket sell.
3. Media — 3 bearish names, avg momentum -1.37
WPP (WPP Group) — Bearish Reversal. LT 85.0 → ST 31.0, momentum -2.50. Large, fast collapse from a very strong base — the standout sell in this sector.
ITV — Bearish Trend, deep weakness across all timeframes (LT 4.6/MT 13.4/ST 11.9).
Highest-conviction individual sells (steepest momentum, regardless of sector breadth)
KNOS (Kainos Group), Software and Computer Services — Bearish Reversal, LT 91.3 → ST 36.5, momentum -7.12 — the sharpest reversal in the entire dataset. Notable because the same sector is also home to two of the strongest buys (CCC, GBG) — this is a stock-specific breakdown, not a sector call.
ENOG (Energean), Oil, Gas and Coal — Bearish Trend, 15/12/10, momentum -6.40. Entrenched downtrend with no reversal signs.
SHEL (Shell), Oil, Gas and Coal — Bearish Reversal, LT 74.6 → ST 17.4, momentum -2.71. Combined with ENOG, the two qualifying Oil & Gas names both show heavy deterioration despite the sector having only 2 names on the list — small breadth, but a consistent and severe signal.
This is a technical/relative-strength read only — not investment advice, and levels like these can shift quickly, so it’s worth cross-checking against fundamentals and news flow before acting on any of these.
