Most Active Market Themes Today

Twelve tracked investment themes ranked by activity — price movement, breadth, and momentum-score change — updated every market day.

Today's Market Pulse

Enterprise Software & Cloud leads today at +2.6%, while Semiconductors — Design lags at -3.2%. 4 of 12 tracked themes are classified Accelerating; 3 are Weakening or Reversing.

Data as of 2026-07-24, market close · 12 curated themes · Theme states v1.1

SignalIQ Leaderboard Brief™

Published · as of 2026-07-24

Semiconductors Equipment and Testing showed high breadth (83.3%) but saw negative momentum today, while Semiconductors Design maintained excellent breadth at 75.0%. The Utilities theme posted a positive 1-day return of 0.29%, supported by solid AIQ breadth (66.7%). Conversely, the Internet Social and Digital Media theme exhibited zero breadth and suffered significant losses (-7.71% over 7 days). For Industrials Diversified and Equipment, the strong conviction count increased by one constituent, suggesting broadening participation despite a negative daily return of -0.82%.

Summary ▸

The Semiconductors Equipment and Testing theme posted a 1-day return of -2.19%, led by CSCO. This suggests caution despite strong underlying AIQ breadth in the sector.

#1Semiconductors — Design

Accelerating

1d basket-3.2%7d basket+2.5%Signal breadth75%Strong conviction0Constituents12 / 12

LeaderCRUS

#2Semiconductors — Equipment & Testing

Accelerating

1d basket-2.2%7d basket+1.0%Signal breadth83%Strong conviction0Constituents12 / 12

LeaderCSCO

#3Enterprise Software & Cloud

Reversing

1d basket+2.6%7d basket-3.6%Signal breadth8%Strong conviction0(-2 7d)Constituents12 / 12

LeaderADBE

#4AI Infrastructure — Power & Data Centers

Established

1d basket+0.3%7d basket+0.5%Signal breadth58%Strong conviction0Constituents12 / 12

LeaderEME

#5Utilities

Accelerating

1d basket+0.3%7d basket+1.5%Signal breadth67%Strong conviction0Constituents12 / 12

LeaderAES

#6Industrials — Diversified & Equipment

Accelerating

1d basket-0.8%7d basket+2.8%Signal breadth50%Strong conviction1(+1 7d)Constituents12 / 12

LeaderALLE

#7Internet, Social & Digital Media

Established

1d basket+0.0%7d basket-7.7%Signal breadth0%Strong conviction0Constituents12 / 12

LeaderEA

#8Fintech, Payments & Exchanges

Narrowing

1d basket+0.8%7d basket+1.5%Signal breadth25%Strong conviction1(-1 7d)Constituents12 / 12

LeaderDAVE

#9Defense, Aerospace & Space

Narrowing

1d basket+0.5%7d basket+1.1%Signal breadth42%Strong conviction0Constituents12 / 12

LeaderGD

#10Large Pharma & Biopharma

Weakening

1d basket+0.6%7d basket+0.7%Signal breadth17%Strong conviction2(-2 7d)Constituents12 / 12

LeaderACAD

#11AI Software & Infrastructure

Established

1d basket-0.1%7d basket-4.0%Signal breadth8%Strong conviction1Constituents12 / 12

LeaderDUOL

#12Consumer Retail & E-Commerce

Reversing

1d basket-0.3%7d basket-5.1%Signal breadth0%Strong conviction1(-1 7d)Constituents12 / 12

LeaderANF

Reading today's theme board

Takeaway: 4 of 12 tracked themes are accelerating while 3 are weakening or reversing — leadership is mixed, not broad-based.

Semiconductors — Design, Semiconductors — Equipment & Testing, Utilities, Industrials — Diversified & Equipment are classified Accelerating — positive basket returns with broad participation and strengthening signals. Acceleration with breadth is the profile that has historically sustained; acceleration without breadth (the Narrowing state) marks themes running on fewer and fewer names.

Enterprise Software & Cloud, Large Pharma & Biopharma, Consumer Retail & E-Commerce show Weakening or Reversing classifications — fading strength trends and declining conviction counts. Weakening themes are where position-size and exit discipline matter most, particularly for names that led the theme on the way up.

Strong-conviction counts measure how many constituents currently carry high-confidence signals — a breadth-of-quality reading that price returns alone cannot show. A theme rising on price while its conviction count falls is being carried by fewer strong names, which is the earliest version of narrowing this data can detect.

How themes are defined and measured

AlgovestIQ tracks twelve curated investment themes — spanning AI software and infrastructure, semiconductor design, enterprise cloud, fintech, pharma, defense, utilities, and consumer — each with a maintained constituent list drawn from the ~1,400-symbol tracked universe. Classification is by material business exposure, not keyword matching, and constituent lists change through review rather than drifting with headlines. For every theme, every market day, the pipeline computes basket returns, signal breadth (the share of constituents with strengthening AIQ signals), strong-conviction counts, and a momentum trend for the theme as a whole.

What "activity" means on this page

The activity ordering combines the size of the basket move (in either direction), signal breadth, and the magnitude of momentum-score change. A theme can be highly active while falling — activity measures how much is happening, and the state label (Accelerating, Narrowing, Weakening, Reversing) says which direction it is happening in. The two together replace the "top themes" framing with something closer to a market map.

FAQ

Why twelve themes rather than fifty?

Because theme-level statistics are only meaningful over defined, adequately sized constituent lists. Each tracked theme carries enough members for breadth and conviction counts to be statistically interpretable — a standard most long-tail "theme" lists cannot meet. Additional themes are added when they can meet the same bar.

How fresh is this page?

The thematic index recomputes after every market close. The snapshot date is shown in the Pulse block, and weekly comparisons use the same pipeline's week-lookback mode rather than an approximation.