Storage names own the NASDAQ-100 momentum table right now, and STX's earnings Monday will be the first real test of whether the sector's move has legs.
Earnings this week
STX — July 28 (NASDAQ-100, rank 3) Seagate sits third in NASDAQ-100 momentum with SNDK and MU ahead of it — hard-drive peers holding the top two slots. Results will either confirm the storage cycle narrative or complicate it fast.
RSI — July 29 (S&P 600, rank 2) Rogers Industrial sits second in small-cap momentum. Industrial small-caps have been quietly strong, and this report is a read on that corner of the market.
BTSG — July 31 (S&P 600, rank 1) BrightSpring Health Services leads the S&P 600 momentum board. Healthcare services at the top of small-cap momentum is worth watching; Thursday's print will show whether the move is fundamentals-driven.
What the momentum table says
The storage cluster is unusually tight. SNDK (rank 1), MU (rank 2), STX (rank 3), and WDC (rank 4) are all in the NASDAQ-100 top four — four names from the same supply chain sitting together at the top of a major index's momentum ranking doesn't happen often. LITE rounds out the top five.
Across the S&P 500, DELL holds rank 3 — another data-infrastructure name, consistent with the same theme running through large caps.
Small caps are more mixed. BTSG and RSI lead the S&P 600, with LQDA (pharma), ECPG (debt buyer), and ATEN (networking) filling out the rest of the top five — no single sector sweep the way storage dominates the NASDAQ-100.
The S&P 400 mid-cap leaders include ARWR and ROIV (both biotech), VIAV (networking/photonics, which fits the storage/data infrastructure thread), and DOCN.
No index composition changes are scheduled this week.