Signals

Mechanics slack, Note: Returns to date will always be negative for current month if report is less than one month old, since this signal implies negative tape for report month.

All pillars are green. Defensive and compounders are disabled, all green would already be priced in.,

Washout risk

All pillars green except map. For compounders and defensives, this is negative.

Tape catch-up

Narrative vs structure

This is often a healthy pause before the next structural wave for a tech cycle company.

For a cyclical, this is a fatal trap. Cyclicals look the most profitable and have the cheapest P/E ratios exactly at the peak of the cycle right before demand falls off a cliff.