Daily Market Brief

Neutral-Down: XLY leads the SPDR 11: SPY trend Defensive: 1 in a squeeze for over a week

November 11, 2026 · Data through the US close · Auto-generated from quantitative models

Educational commentary, not investment advice. See full disclaimer.

Market Conditions are Neutral-Down (score 45.0/100): main risks: distribution red, credit red. Underlying SPY trend is Defensive with MEI at 63.2/100 (MODERATE GROWTH) and sentiment reading NEUTRAL. Discretionary (XLY) leads at #1 with a Strong signal and score 75.7, while Technology (XLK) trails at #11.

Market Conditions

Neutral-Down45/100

Mixed: conditions softening

Trend

Breadth

Distribution

Volatility

Credit

Internals

Macro Regime

Main risks: Distribution (red) • Credit (red)

Synthesised from trend, breadth, distribution, volatility, credit, internals, and macro inputs. See the Market Conditions tab for full detail on each light.

US Market Indicators

All indicators are based on US equity markets and economic data.

SPY Sentiment?

NEUTRAL

53.3/100

Macro Economic Indicator?

MODERATE GROWTH

63.2/100

Economic Regime?

Recession

growth -1.9 · prices -2.0 · too close to call

US Sector Rotation (SPDR 11)

Rank	Δ	Sector	Signal	Quadrant	Score
1	↑2	XLYDiscretionary	Strong	Leading	76
2	↓1	XLVHealthcare	Strong	Leading	75
3	↑1	XLFFinancials	Strong	Leading	74
4	↓2	XLPStaples	Strong	Leading	74
5	→	XLREReal Estate	Strong	Leading	74
6	↑1	XLUUtilities	Stable	Leading	69
7	↓1	XLBMaterials	Stable	Leading	66
8	→	XLCCommunications	Weak	Leading	62
9	→	XLIIndustrials	Weak	Leading	59
10	→	XLEEnergy	Weak	Lagging	34
11	→	XLKTechnology	Weak	Lagging	22

Notable Changes

⚡XLI has been in a TTM Squeeze for 28 days in a row, so its price range has narrowed.

What to Watch

Sectors near a signal threshold or with elevated seasonal tailwinds.

›XLY: seasonal score bullish (90/100)
›XLV: seasonal score bullish (92/100)
›XLF: seasonal score bullish (91/100)
›XLP: seasonal score bullish (87/100)
›XLRE: seasonal score bullish (81/100)
›XLU (Utilities): score 69, approaching Strong threshold (70)
›XLB (Materials): score 66, approaching Strong threshold (70)
›XLB: seasonal score bullish (90/100)
›XLC: seasonal score bullish (80/100)
›XLI: seasonal score bullish (91/100)
›XLK: seasonal score bullish (88/100)

Sector Readings

Historically stronger with this economic indicator reading

Sectors that have historically done well when this reading looks like it does today. That is history, not a forecast.

XLV, XLP, XLU

Persistent Weakness

Sectors with an Avoid signal or in Stage 4 (Declining), excluding the historically stronger sectors above. A description, not advice.

XLK

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