Under the surface, we are seeing breakdowns in high-beta stocks that had formerly been upside leadership for the market, even as the major indices hold up above initial support. A correction has been in place for high-flying stocks since mid-October, which has resulted in a one-month return of -11.7% for the ARK Innovation ETF (ARKK) , a high-growth technology stock proxy. We view the sell-off in ARKK as a risk-off indication for the broader market. The correction in ARKK looks poised to deepen over the next few weeks, at least. Intermediate-term momentum recently shifted to the downside per the weekly MACD, and the weekly stochastics have room to move into oversold territory. Next support on the chart is near $67, where the February high and the 200-day MA converge. The daily chart suggests that there is downside risk in the short term to the 200-day MA. ARKK broke down below cloud-based support late last week as a fresh bearish catalyst. The daily MACD shows that short-term momentum is strongly negative, and there are no signs of downside exhaustion yet. The ratio of ARKK to the SPX saw a steep run-up in September, reflective of a strong tape led by riskier assets. The ratio has since seen a significant retracement, indicating that the market is now avoiding risk. The underperformance has resulted in a downturn in the 50-day MA for the ratio, something we last saw in late February. The ratio also has room to move toward next support from its 200-day MA, supporting additional downside leadership from ARKK in the near term. In conclusion, the sell-off in ARKK is a risk-off indication for the broader market, which looks vulnerable to a deeper correction over the next few weeks. We would be quicker to reduce exposure to volatile technology stocks, which tend to get hit harder than the average stock during corrective phases. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . 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Xabi Alonso at opening ceremony of Real Madrid Graduate School
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NASA, Industry Weave Data Fabric with Artificial Intelligence
One of the biggest goals for companies in the field of artificial intelligence is developing “agentic” or autonomous systems. These metaphorical agents can perform tasks without a guiding human hand. This parallels the goals of the emerging urban air mobility industry, which hopes to bring autonomous flying vehicles to cities around the world. One company got a head start on doing both with some help from NASA.
Autonomy Association International Inc. (AAI) is a public benefit corporation based in Mountain View, California, near NASA’s Ames Research Center in Silicon Valley. In 2022, AAI signed a Space Act Agreement with Ames to support the agency’s Data and Reasoning Fabric project, which aimed to support the transportation of people and cargo to areas previously unserved or underserved by aviation, and to provide reliable, accurate, and current data for aeronautic decision-making.
“Inspiration to lean into data fabric to solve certain complexities came from our NASA partnership,” said AAI cofounder and the project’s industry principal investigator Greg Deeds. “Working on this project was a great experience. Working with NASA engineers and leaders gave us experience that we’ll carry forward in all of our products.”
Similar to how clothing fabric is made of intertwined threads, a data fabric comprises intertwined data sources. While a data fabric built by a tech company may include data from a few different cloud service providers, NASA’s Data and Reasoning Fabric can also use information provided by local governments and other service providers. By viewing airspace as a large data fabric, an autonomous vehicle can take in data and requests from the cities and towns it flies over and prioritize responses between them.
Working with Ken Freeman, principal investigator of the project at Ames, AAI and NASA performed four testing adaptations of the data fabric technology in the air over Arizona. Using hardware and software developed by AAI, the flights tested advanced air mobility passenger flights and the use of a drone for rapid delivery of medical supplies from urban to rural areas and back, while sending new tasks to the aircraft in flight. A helicopter stood in for the drone and air taxi, flying over towns, universities, tribal lands, and the airspace around Phoenix Sky Harbor airport and obtaining data and programs given to it from different places.
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In the years since the original NASA project, the company has cultivated relationships and customers abroad, including companies in agriculture, real estate development, and industrial food production using its system to aggregate and manage data. Released in 2024, the company’s Digital Infrastructure Platform uses the same technology originally designed for the NASA flight test. A new, “agentic” version followed not long after, able to retrieve necessary AI programs with minimal interaction.
As AI unlocks innovation across American industries, NASA is equipping its commercial partners with the keys, using proven technology to generate breakthrough solutions.
Learn more: https://spinoff.nasa.gov/
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