An RS line hitting a new high first marks a market leader
A relative-strength high is often used to identify shares holding up better than a benchmark.
Result
Volatility illusion — The observed move was consistent with volatility, without a clearer directional difference.
- Observed up-rate
- 50.3%
- Volatility-matched expected rate
- 50.1%
- 95% lift interval
- 0.97 ~ 1.04x
- Signals · symbols · dates
- 9,311 · 3,340 · 245
As of 2026-10-09 · Observed period 2025-09-29 to 2026-10-09
Source: DawnScan daily scan records and daily price records
Rule definition
An event is the stock-to-SPY price ratio reaching its highest level of roughly the past year (up to 260 trading days).
Why people use this rule
A relative-strength high is often used to identify shares holding up better than a benchmark.
Results by market regime
| Regime | Cases | Observed | Expected | Verdict |
|---|---|---|---|---|
| Neutral | 2,101 | 44.9% | 42.9% | No difference |
| Risk-off | 847 | 68.2% | 76.9% | Not enough data |
| Risk-on | 6,363 | 49.7% | 48.9% | Volatility illusion |
Recent confirmed cases
| Date | Symbol | Outcome |
|---|---|---|
| 2026-10-09 | QETA | -31.1% Delisted (last recorded value) |
| 2026-10-07 | QETAU | -26.1% Delisted (last recorded value) |
| 2026-10-02 | XRPNU | -50.5% Delisted (last recorded value) |
| 2026-10-02 | VEON | +9.1% |
| 2026-10-02 | TNK | -2.2% |
| 2026-10-02 | NTWK | +29.1% |
| 2026-10-02 | NNBR | -12.9% |
| 2026-10-02 | NAT | -6.1% |
| 2026-10-02 | MTW | -0.8% |
| 2026-10-02 | MTRN | -28.9% |
| 2026-10-02 | LIND | +7.4% |
| 2026-10-02 | JILL | -3.5% |
| 2026-10-02 | IMOS | -34.7% |
| 2026-10-02 | FRO | +7.9% |
| 2026-10-02 | ECO | +16.1% |
| 2026-10-02 | CVI | +6.5% |
| 2026-10-02 | AUDC | +0.5% |
| 2026-10-02 | ASX | -16.8% |
| 2026-10-01 | ZETA | +1.0% |
| 2026-10-01 | VRA | +33.3% |
| 2026-10-01 | SILC | -34.2% |
| 2026-10-01 | SCSC | -5.2% |
| 2026-10-01 | PXS | -4.3% |
| 2026-10-01 | PBF | -8.3% |
| 2026-10-01 | PAYS | -0.1% |
| 2026-10-01 | OESX | -33.6% |
| 2026-10-01 | NXL | -78.4% |
| 2026-10-01 | HPE | -8.8% |
| 2026-10-01 | DT | +2.9% |
| 2026-10-01 | DHT | +6.5% |
Method and limitations
Definition: An event is the stock-to-SPY price ratio reaching its highest level of roughly the past year (up to 260 trading days).
Historical outcomes only. The sample may reflect a limited market regime. Results do not account for stops, position sizing, fees, or taxes.
Past data · not investment advice