Market report
Friday, October 9, 2026
The Hub's call
Made at 9:00 AM ET, after the 8:30 data
Risk-on sentiment shifts bias to bullish as tech leads premarket gains
Premarket risk-on sentiment and strong sector rotation into technology override last night's choppy breadth concerns.
The session is set for a bullish open as tech and software sectors show strength. I will focus on momentum in key software names and look for consolidation above pivot levels to confirm the trend.
Macro read: Rising yields and a stronger dollar may pressure small caps, but current risk-on sentiment in futures supports a bullish tilt. Gold and oil are stable, providing a neutral backdrop for equity performance.
The plan
If / then, and the levels it hangs on
- IfSPY holds 773.82 pivot → Look for a test of R1 at 777.20.
- IfQQQ holds 749.33 pivot → Target a move toward R1 at 755.43.
| Index | Support | Pivot | Resistance | Prior low | Prior high |
|---|---|---|---|---|---|
| SPY | 770.55 | 773.82 | 777.20 | 770.44 | 777.09 |
| QQQ | 741.48 | 749.33 | 755.43 | 743.23 | 757.18 |
| IWM | 275.45 | 276.64 | 278.76 | 274.52 | 277.83 |
Where money is moving
The Hub's sector and industry rotation ranks
Rotation favors Technology, Healthcare, Consumer Discretionary — Technology leads at +7.3%/month. Cybersecurity (18.3%/month) is beating its sector — watch for breakouts. Key risk: Financials deteriorating (-3.8%/month).
- ▼Communication Services (XLC) left the top 3 → #7 (was #2)
- ▲Consumer Discretionary (XLY) entered the top 3 → #3 (was #6)
- ▼Industrials (XLI) left the top 3 → #6 (was #3)
- ▼Financials (XLF) entered the bottom 3 → #11 (was #8)
- ▲Healthcare (XLV) entered the top 3 → #2 (was #4)
- ▲Consumer Staples (XLP) moved +3 → #4 (was #7)
- ▲Materials (XLB) recovered from the bottom → #9 (was #10)
Tailwinds
- Cybersecurity — Leading the market with 13% monthly growth and strong sector momentum.
- Software — Strong performance and multiple leaders showing consolidation setups.
Headwinds
- Real Estate — Deteriorating sector with -5.9% monthly performance.
- Financials — Weakening sector rank and negative monthly momentum.
Market regime
Trend state at the close
SPY
Bull Trend
1M +2.7% · above its 50-day (+1.9%)
QQQ
Bull Trend
1M +6.0% · above its 50-day (+3.3%)
IWM
Recovery
1M −3.0% · below its 50-day (−2.9%)
DIA
Recovery
1M −0.9% · below its 50-day (−0.8%)
Breadth: 5 of 11 sectors above their 200-day average.
Track record
Last 8 scored calls
88%
7 of 8 calls right
Bullish / bearish: 3/3
Neutral / choppy: 4/5
How it's scored: bullish is right when SPY closes up, bearish when it closes down, neutral or choppy when SPY closes within ±0.5%. Every call is shown, misses included.
Sector scoreboard
ranked by 1-month return · this week alongside · the rotation map1 week
- 1Technology−0.5%
- 2Healthcare+2.8%
- 3Consumer Discretionary+2.5%
- 4Consumer Staples+3.6%
- 5Energy+3.6%
- 6Industrials−0.4%
- 7Communication Services+0.1%
- 8Utilities+4.0%
- 9Materials+1.2%
- 10Real Estate+2.0%
- 11Financials+2.3%
1 month (the ranking)
- 1Technology+7.3%
- 2Healthcare+3.1%
- 3Consumer Discretionary+0.8%
- 4Consumer Staples+0.4%
- 5Energy+0.2%
- 6Industrials−0.8%
- 7Communication Services−1.0%
- 8Utilities−2.6%
- 9Materials−2.6%
- 10Real Estate−3.3%
- 11Financials−3.8%
Rotation map · week against month
Today's briefing & event risk
Regime BULL: 8/11 sectors leading, 3 weakening or lagging. VIX 15.1. Premarket risk on (avg +0.33%).
Key risk: Watch VIX for a spike above 25. · Options focus: SPY at-the-money options for directional exposure with defined risk.
The full rotation report
Rotation favors Technology, Healthcare, Consumer Discretionary — Technology leads at +7.3%/month. Cybersecurity (18.3%/month) is beating its sector — watch for breakouts. Key risk: Financials deteriorating (-3.8%/month).
| Market regime | Price | 1D | 1W | 1M | 3M | vs 50D | vs 200D | vs 21W | Regime |
|---|---|---|---|---|---|---|---|---|---|
| S&P 500 SPY | $778.57 | +0.60% | +1.2% | +2.7% | +3.1% | +1.9% | +6.4% | +3.4% | Bull Trend |
| Nasdaq 100 QQQ | $751.27 | +0.49% | +0.2% | +6.0% | +3.5% | +3.3% | +9.6% | +5.5% | Bull Trend |
| Russell 2000 IWM | $278.94 | +0.49% | -0.9% | -3.0% | -5.8% | -2.9% | +0.1% | -2.6% | Recovery |
| Dow Jones DIA | $516.11 | +0.87% | +1.0% | -0.9% | -1.8% | -0.8% | +1.9% | -0.2% | Recovery |
| ARK Innovation ARKK | $89.62 | +2.31% | -0.2% | +7.9% | +11.7% | +4.8% | +10.1% | +8.5% | Bull Trend |
Rotation alerts & money flow
- ▼ Left top 3Communication Services (XLC) left the top 3#2→#7
- ▲ Top 3 entryConsumer Discretionary (XLY) entered the top 3#6→#3
- ▼ Left top 3Industrials (XLI) left the top 3#3→#6
- ▼ OutflowFinancials (XLF) entered the bottom 3#8→#11
- ▲ Top 3 entryHealthcare (XLV) entered the top 3#4→#2
- ▲ Rank upConsumer Staples (XLP) moved +3#7→#4
- ▲ InflowMaterials (XLB) recovered from the bottom#10→#9
- ▲ InflowMoney flow surge — Consumer Discretionary climbed 3 rank(s) this week#6→#3
- ▲ InflowMoney flow surge — Consumer Staples climbed 3 rank(s) this week#7→#4
- ▼ OutflowRapid outflow — Industrials dropped 3 rank(s) this week#3→#6
- ▼ OutflowRapid outflow — Communication Services dropped 5 rank(s) this week#2→#7
- ▼ OutflowRapid outflow — Financials dropped 3 rank(s) this week#8→#11
Sector scoreboard
ranked by 1-month return · rank change vs last week / month1 week
- 1Technology−0.5%
- 2Healthcare+2.8%
- 3Consumer Discretionary+2.5%
- 4Consumer Staples+3.6%
- 5Energy+3.6%
- 6Industrials−0.4%
- 7Communication Services+0.1%
- 8Utilities+4.0%
- 9Materials+1.2%
- 10Real Estate+2.0%
- 11Financials+2.3%
1 month (the ranking)
- 1Technology+7.3%
- 2Healthcare+3.1%
- 3Consumer Discretionary+0.8%
- 4Consumer Staples+0.4%
- 5Energy+0.2%
- 6Industrials−0.8%
- 7Communication Services−1.0%
- 8Utilities−2.6%
- 9Materials−2.6%
- 10Real Estate−3.3%
- 11Financials−3.8%
Rotation map · week against month
| # | Sector | Δ wk / mo | Phase & signal | 1D | 1W | 1M | 3M | 6M | Rel vol | vs 200D |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Technology XLK | — / ↑6 | MomentumLong | +0.51% | -0.5% | +7.3% | +7.0% | +36.5% | 0.74 | +15.3% |
| 2 | Healthcare XLV | ↑2 / ↓1 | MomentumLong | +1.58% | +2.8% | +3.1% | +6.2% | +15.4% | 0.85 | +7.6% |
| 3 | Consumer Discretionary XLY⚡ | ↑3 / ↓1 | MomentumLong | +1.02% | +2.5% | +0.8% | -3.7% | -0.9% | 1.01 | -2.4% |
| 4 | Consumer Staples XLP⚡ | ↑3 / ↑4 | Early AccumLong | +0.01% | +3.6% | +0.4% | -0.8% | +2.3% | 0.71 | +0.4% |
| 5 | Energy XLE | — / — | MomentumLong | -0.25% | +3.6% | +0.2% | +18.2% | +14.0% | 0.77 | +13.8% |
| 6 | Industrials XLI⚡ | ↓3 / ↑4 | NeutralNeutral | +0.50% | -0.4% | -0.8% | -7.0% | -2.0% | 0.51 | -1.4% |
| 7 | Communication Services XLC⚡ | ↓5 / ↓4 | NeutralNeutral | -1.51% | +0.1% | -1.0% | -1.1% | -3.9% | 0.96 | -2.3% |
| 8 | Utilities XLU | ↑1 / ↑3 | BottomingLong | +0.83% | +4.0% | -2.6% | -8.8% | -10.7% | 0.49 | -5.7% |
| 9 | Materials XLB | ↑1 / ↓5 | DistributionAvoid | +0.32% | +1.2% | -2.6% | -2.9% | -5.3% | 0.6 | -1.4% |
| 10 | Real Estate XLRE | ↑1 / ↓1 | BottomingLong | +1.86% | +2.0% | -3.3% | -6.4% | -3.3% | 1.04 | -3.6% |
| 11 | Financials XLF⚡ | ↓3 / ↓5 | BottomingLong | +0.92% | +2.3% | -3.8% | -1.8% | +5.9% | 0.91 | +0.6% |
Get the next call by email — free