Marathon Petroleum Corp (24 Hours) and Phillips 66 (24 Hours) stand out alongside healthcare names Revvity Inc (24 Hours), Thermo Fisher Scientific Inc (24 Hours), Agilent Technologies Inc (24 Hours) and Veeva Systems Inc. Their R² readings range from 0.82 to 0.93, indicating relatively consistent upward trends over the three-month window. This does not establish whether those trends will continue.
All six stocks are trading below their regression trend lines. Marathon Petroleum sits 6.8% below its line and Revvity 4.9% below. These pullbacks put the durability of the existing uptrends in focus.
S&P 500 outlook for November
Oil prices, refining margins, interest rates and investor scrutiny of AI spending remain key to the rotation. Energy and healthcare lead on relative strength, with consumer staples following. Improving market breadth is constructive, but it does not by itself confirm a renewed rally in the broader index.