diff --git a/signal_v2/signal_generator.py b/signal_v2/signal_generator.py
index df1c59d..fe24070 100644
--- a/signal_v2/signal_generator.py
+++ b/signal_v2/signal_generator.py
@@ -20,9 +20,9 @@ MOMENTUM_SCORES = {
 
 
 def generate_signals(state, dedup, settings) -> None:
-    """Phase 4 entry — state mutating. 매수/매도 룰 적용."""
-    _evaluate_buy_signals(state, dedup, settings)
+    """Phase 4 entry — state-mutating. Evaluation order: sell first (priority), then buy. A ticker receiving a sell signal in this cycle is excluded from buy evaluation to avoid silent overwrite."""
     _evaluate_sell_signals(state, dedup, settings)
+    _evaluate_buy_signals(state, dedup, settings)
 
 
 # ----- 매수 -----
@@ -30,6 +30,9 @@ def generate_signals(state, dedup, settings) -> None:
 def _evaluate_buy_signals(state, dedup, settings) -> None:
     candidates = _buy_candidates(state)
     for ticker, name, rank in candidates:
+        existing = state.signals.get(ticker)
+        if existing is not None and existing.get("action") == "sell":
+            continue
         if not _check_buy_hard_gate(state, ticker, settings):
             continue
         confidence = _compute_buy_confidence(state, ticker, rank)
@@ -65,16 +68,16 @@ def _buy_candidates(state) -> list[tuple[str, str, int | None]]:
 
 def _check_buy_hard_gate(state, ticker: str, settings) -> bool:
     pred = state.chronos_predictions.get(ticker)
-    if pred is None or pred["median"] <= 0:
+    if pred is None or pred.get("median", 0) <= 0:
         return False
-    spread = pred["q90"] - pred["q10"]
+    spread = pred.get("q90", 0) - pred.get("q10", 0)
     if spread >= settings.chronos_spread_threshold:
         return False
     momentum = state.minute_momentum.get(ticker)
     if momentum != settings.min_momentum_for_buy:
         return False
     ap = state.asking_price.get(ticker)
-    if ap is None or ap["bid_ratio"] < settings.asking_bid_ratio_threshold:
+    if ap is None or ap.get("bid_ratio", 0) < settings.asking_bid_ratio_threshold:
         return False
     return True
 
@@ -83,7 +86,7 @@ def _compute_buy_confidence(state, ticker: str, rank: int | None) -> float:
     pred = state.chronos_predictions[ticker]
     chronos_conf = pred["conf"]
     minute_score = MOMENTUM_SCORES.get(state.minute_momentum.get(ticker, "neutral"), 0.5)
-    screener_norm = 1 - (rank - 1) / 20 if rank is not None else 0.0
+    screener_norm = max(0.0, 1 - (rank - 1) / 20) if rank is not None else 0.0
     return chronos_conf * 0.5 + minute_score * 0.3 + screener_norm * 0.2
 
 
diff --git a/signal_v2/tests/test_signal_generator.py b/signal_v2/tests/test_signal_generator.py
index 7b70d03..00e9ad2 100644
--- a/signal_v2/tests/test_signal_generator.py
+++ b/signal_v2/tests/test_signal_generator.py
@@ -85,7 +85,7 @@ def test_silent_when_chronos_median_negative(dedup_mock):
 
 
 def test_silent_when_distribution_spread_too_wide(dedup_mock):
-    # spread = (0.5 - (-0.5)) / max(0.001, 0.001) = 1000 → > 0.6
+    # spread = q90 - q10 = 0.5 - (-0.5) = 1.0 > 0.6 → hard gate fails
     state = _make_state_with_buy_candidate(
         chronos_median=0.001, chronos_q10=-0.5, chronos_q90=0.5,
     )
@@ -143,3 +143,30 @@ def test_silent_when_dedup_recently_sent(dedup_mock):
     generate_signals(state, dedup_mock, _settings())
     assert "005930" not in state.signals
     dedup_mock.record.assert_not_called()
+
+
+def test_sell_signal_triggers_on_anomaly_path(dedup_mock):
+    """Anomaly sell: median < -1%, momentum strong_down, low bid_ratio, confidence > threshold."""
+    state = PollState()
+    state.portfolio = {"holdings": [{
+        "ticker": "005930", "name": "삼성전자",
+        "avg_price": 75000, "current_price": 70000,
+        "pnl_pct": -0.067,  # within stop_loss tolerance (default -0.07): NOT triggering stop_loss
+        "quantity": 100, "broker": "키움",
+    }]}
+    state.screener_preview = {"items": []}
+    state.chronos_predictions["005930"] = {
+        "median": -0.025, "q10": -0.05, "q90": 0.005, "conf": 0.85,
+    }
+    state.minute_momentum["005930"] = "strong_down"
+    state.asking_price["005930"] = {"current_price": 70000, "bid_ratio": 0.30}
+    # bid_ratio 0.30 < (1 - 0.6) = 0.4 → anomaly bid_ratio gate passes
+    # confidence = 0.85*0.5 + 1.0*0.3 + 1.0*0.2 = 0.425 + 0.3 + 0.2 = 0.925 > 0.7
+
+    generate_signals(state, dedup_mock, _settings())
+
+    assert "005930" in state.signals
+    sig = state.signals["005930"]
+    assert sig["action"] == "sell"
+    assert sig["context"]["sell_reason"] == "anomaly"
+    assert sig["confidence_webai"] > 0.7