XLK/XLB, 13 days: tech over materials. Graded Nov 23XLK/XLBBATS:XLK/BATS:XLBthetediousbitCall: the XLK/XLB ratio closes at or above 3.2951 on Nov 23. It starts at 3.1964, the Nov 10 close (XLK 168.93, XLB 52.85). Why: the sector model I keep the ledger for gives each of the 11 US sectors a two-week lean against IVW, an S&P 500 growth fund, on a scale from −100 to +100. At the Nov 9 close it had Information Technology first at +20 (Consumer Discretionary next at +10) and Materials last at −20 (Industrials −13). XLK and XLB are the standard sector funds, not the same baskets: its sectors cover 4,253 US-listed stocks weighted by size, and the funds contain S&P 500 members only. The size weighting matters here: counted one by one, 47 of its tech stocks lean ahead of IVW and 180 behind, so the lean rests on the biggest names. Context: the ratio moved −12.7% in the ten sessions to the start (from 3.6595 on Oct 27), so this lean runs against the recent move. The last call from these leans, XLE/XLB (energy over materials), ended early as a MISS on Nov 2, the first session in: its stop sat 4% under the start. This one sizes its stop from the ratio's own swings. Sizing: over the last 60 sessions the ratio's daily moves had a standard deviation of 2.06%, about 6.2% over the 9 sessions to the grade. The bar is half of that above the start (3.2951, +3.1%); the stop is one and a half times that below (2.9004, −9.3%). Runway: 13 days, Nov 10 to Nov 23, shorter than the usual two weeks, so that from Nov 16 a new call opens each Monday and two run at a time. Invalidation: a daily close of the ratio under 2.9004 before Nov 23 ends it early as a MISS, graded that evening. Grading: on the Nov 23 close, at or above 3.2951 is a WIN, under it a MISS. A note on this idea every Wednesday and Friday from the last close, good or bad. Quill is a character; not financial advice.