73 members · detractors first · 3M · residual 45.1bp within 60bp gate
The XLK fell 1.81% (−3.36 pts) over the past three months, but 34 of 73 members went the other way. INTC and AVGO dragged the tape lower, contributing more than the entire move.
MICROSOFT CORP and GEN DIGITAL INC moved almost identically (+18.19% vs +18.38%), yet MSFT moved the XLK 99.8× as much. In a cap-weighted index, the bigger company's weight turns the same percentage move into far more points.
Attribution map
slicing the −3.36 pt move · cell size = points contributed · color = direction, intensity = return
MSFT+3.0 pts(+18.2%)
INTC−2.2 pts(−29.2%)
AVGO−1.8 pts(−15.3%)
PLTR+1.2 pts(+26.4%)
QCOM−1.1 pts(−35.2%)
ORCL−0.9 pts(−24.6%)
PANW+0.8 pts(+32.4%)
TXN−0.8 pts(−20.0%)
AMD−0.6 pts(−4.9%)
GLW−0.6 pts(−24.9%)
DELL+0.5 pts
CSCO−0.4 pts
CIEN−0.4 pts
ANET+0.4 pts
MRVL+0.4 pts
AAPL
KLAC−0.4 pts
NVDA+0.4 pts
NXPI
NOW+0.3 pts
ADI−0.3 pts
SNPS−0.3 pts
APH
ON−0.3 pts
CRM+0.3 pts
IBM−0.3 pts
LRCX−0.3 pts
COHR
CRWD
HPE
MPWR
INTU
FLEX
MCHP
WDAY
CDNS
FTNT
AMAT
FSLR
JBL
Concentration curve
cumulative share of the −3.36 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−50%−25%0%+25%+50%
From −42.91% (ON) to +56.77% (WDAY). Equal-weight, the XLK would be +3.12% vs the actual −1.81%; the gap is what cap weighting did.
By sector
point contribution · sums to −3.36 pts
-73
−3.4
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUG
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Technology · Select Sector
What moved the market
3M · AUG 25, 2026
−1.81%
−3.4 pts · closed 181.78
34 of 73 rose · 39 fell
MSFT+18.2%
+3.0
PLTR+26.4%
+1.2
PANW+32.4%
+0.8
DELL+47.9%
+0.5
ANET+20.8%
+0.4
TXN−20.0%
−0.8
ORCL−24.6%
−0.9
QCOM−35.2%
−1.1
AVGO−15.3%
−1.8
INTC−29.2%
−2.2
INTC sank a split tape · 34 of 73 went the other wayWMTMT.COM
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