Quantmatix — The Chip Turn: Semiconductors Advance From the Bottom as Software Rolls Over <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <table style="max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:22px 24px 18px 24px;border-bottom:3px solid #DEDC04" class="rz-html-editor-cell-selected"> <p style="margin:0 0 6px 0;color:#8fa3bd;font-family:Arial,sans-serif;font-size:9.5px;font-weight:bold;letter-spacing:2px;text-transform:uppercase">Quantmatix · Thematic · Technology & Semiconductors · Institutional Research</p> <p style="margin:0 0 8px 0;color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1.35">The Chip Turn: Semiconductors Advance From the Bottom as Software Rolls Over From the Top</p> </td></tr> <tr><td style="background-color:#202020;padding:18px 24px;border-left:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">The Setup</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Across the technology universe the turn is happening at the bottom of the stack, not the top. <b style="color:#66cc66">60% of semiconductors & equipment names are Advancing while their mean Q Score is still deeply negative (−2.8)</b> — the model’s definition of a fresh turn from a beaten-up base — and there is not a single High-Score Negative Reversal anywhere in the group. Software & Services shows the mirror image: mean Q +3.1, only 44% Advancing, and 24 names carrying a confirmed High-Score Negative Reversal.</p> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">The Signal</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Twenty-four confirmed <b style="color:#66cc66">Deep Positive Reversals</b> across semiconductors, equipment and hardware, one-directional and building from deep discounts; twenty-eight confirmed <b style="color:#ff6666">High-Score Negative Reversals</b>, concentrated in software. Two early-stage <b>Q Signals</b> bracket the move — one at each end of the stack. This extract carries Quantmatix reference bands and Velocity data; consensus figures shown for corroboration are third-party and are marked as such throughout.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:20px 24px 4px 24px"> <table style="border-collapse:collapse;font-family:Arial,sans-serif;text-align:center"> <tbody><tr style="background-color:#152030"> <td style="color:#d9d9d9;padding:8px">Deep Positive Reversals<br /><span style="font-size:17px;font-weight:bold;color:#66cc66">24</span><br /><span style="font-size:9px;color:#8fa3bd">10 semis · 10 hardware · 4 software</span></td> <td style="color:#d9d9d9;padding:8px">High-Score Negative Reversals<br /><span style="font-size:17px;font-weight:bold;color:#ff6666">28</span><br /><span style="font-size:9px;color:#8fa3bd">24 software · 4 hardware</span></td> <td style="color:#d9d9d9;padding:8px">Q Signals<br /><span style="font-size:17px;font-weight:bold;color:#f0d48a">2</span><br /><span style="font-size:9px;color:#8fa3bd">1 positive · 1 negative</span></td> <td style="color:#d9d9d9;padding:8px">Universe Advancing<br /><span style="font-size:15px;font-weight:bold;color:#ffffff">51%</span><br /><span style="font-size:9px;color:#8fa3bd">606 names, all horizons</span></td> </tr> </tbody></table> </td></tr><tr><td style="background-color:#1a1a1a;padding:22px 24px 4px 24px"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Why Now — Three Groups, Three States</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:10px 24px 0px 24px"> <p style="margin:0 0 10px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">This is not a broad technology rally. It is a rotation down the stack, and it maps closely onto where AI infrastructure spending is landing: semiconductors and equipment are Advancing from deeply negative scores with zero exhaustion; hardware is a step further along; software is high-scored and rolling over. One table sets out the contrast.</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:11px"> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Group</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Names</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Advancing</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Mean Q</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Deep‑Pos</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">HSNR</td> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>Semiconductors & Equipment</b></td> <td style="color:#d9d9d9;padding:6px">126</td> <td style="color:#66cc66;font-weight:bold;padding:6px">60%</td> <td style="color:#ff6666;font-weight:bold;padding:6px">−2.8</td> <td style="color:#66cc66;font-weight:bold;padding:6px">10</td> <td style="color:#d9d9d9;padding:6px">0</td> </tr><tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>Technology Hardware</b></td> <td style="color:#d9d9d9;padding:6px">145</td> <td style="color:#66cc66;font-weight:bold;padding:6px">61%</td> <td style="color:#d9d9d9;padding:6px">+0.2</td> <td style="color:#d9d9d9;padding:6px">4</td> </tr><tr style="background-color:#2e1a1a"> <td style="color:#d9d9d9;padding:6px"><b>Software & Services</b></td> <td style="color:#d9d9d9;padding:6px">335</td> <td style="color:#ff6666;font-weight:bold;padding:6px">44%</td> <td style="color:#d9d9d9;padding:6px">+3.1</td> <td style="color:#ff6666;font-weight:bold;padding:6px">24</td> <p style="margin:8px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10px;line-height:1.6">Advancing on a negative score describes momentum strengthening from a beaten-up base — the earliest part of a turn. HSNR = High Score Negative Reversal, a confirmed downward turn from an elevated score. Both are read of directional model state, not a recommendation to act. One hardware name carried a reversal flag inconsistent with its rising score and was held out of the signal set; it still counts in breadth.</p> </tr><tr><td style="background-color:#1a1a1a;padding:18px 24px 4px 24px"> <table style="border-collapse:collapse"> <tbody><tr><td style="background-color:#202020;border-top:2px solid #DEDC04;border-bottom:2px solid #DEDC04;padding:14px 16px;text-align:center"> <p style="margin:0;color:#ffffff;font-family:Arial,sans-serif;font-size:14px;font-style:italic;font-weight:bold;line-height:1.4">The Velocity is in the layer of the stack that gets paid first in an AI build-out — the silicon and the machines that make it. The exhaustion is in the layer that pays for it.</p> <p style="margin:0;color:#66cc66;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Highest Expected-Value Signal Reads — Deep Positive Reversals</p> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12px;line-height:1.6">Nine of the twenty-four confirmed Deep Positive Reversals in semiconductors, equipment and hardware, ranked by depth of the turn. Memory, foundry and the test/materials layer all appear, which is what makes this a supply-chain-wide read rather than a handful of names. Reference bands are the model’s trading levels from the 18 Sep close.</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:11px"> <td style="color:#ffffff;font-size:8.5px;font-weight:bold;padding:5px">Name</td> <td style="color:#ffffff;font-size:8.5px;font-weight:bold;padding:5px">Q</td> <td style="color:#ffffff;font-size:8.5px;font-weight:bold;padding:5px">ΔQ</td> <td style="color:#ffffff;font-size:8.5px;font-weight:bold;padding:5px">Close · Wk</td> <td style="color:#ffffff;font-size:8.5px;font-weight:bold;padding:5px">Ref. Levels (Up / Mean / Down)</td> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Cirrus Logic</b><br /><span style="color:#8a8a8a;font-size:9px">audio / mixed-signal</span></td><td style="color:#d9d9d9;padding:5px">−8.4</td><td style="color:#66cc66;padding:5px">+0.9</td><td style="color:#d9d9d9;padding:5px">$118.82<br /><span style="color:#66cc66">▲10.7%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px"><span style="color:#66cc66">+0.0%</span> / −1.0% / <span style="color:#ff9900">−12.8%</span></td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>MACOM Technology</b><br /><span style="color:#8a8a8a;font-size:9px">RF / photonics</span></td><td style="color:#d9d9d9;padding:5px">−8.1</td><td style="color:#66cc66;padding:5px">+0.6</td><td style="color:#d9d9d9;padding:5px">$275.86<br /><span style="color:#66cc66">▲24.2%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px"><span style="color:#66cc66">+1.3%</span> / −21.6% / <span style="color:#ff9900">−0.4%</span></td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Rambus</b><br /><span style="color:#8a8a8a;font-size:9px">memory interface / IP</span></td><td style="color:#d9d9d9;padding:5px">−6.1</td><td style="color:#66cc66;padding:5px">+0.9</td><td style="color:#d9d9d9;padding:5px">$87.60<br /><span style="color:#66cc66">▲20.4%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px"><span style="color:#66cc66">+3.8%</span> / −12.8% / <span style="color:#ff9900">+0.7%</span></td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>IPG Photonics</b><br /><span style="color:#8a8a8a;font-size:9px">lasers / hardware</span></td><td style="color:#d9d9d9;padding:5px">−6.0</td><td style="color:#66cc66;padding:5px">+0.6</td><td style="color:#d9d9d9;padding:5px">$76.55<br /><span style="color:#66cc66">▲24.9%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px"><span style="color:#66cc66">+5.5%</span> / −13.8% / <span style="color:#ff9900">−4.3%</span></td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>QUALCOMM</b><br /><span style="color:#8a8a8a;font-size:9px">mobile / compute</span></td><td style="color:#d9d9d9;padding:5px">−5.1</td><td style="color:#66cc66;padding:5px">+1.9</td><td style="color:#d9d9d9;padding:5px">$177.72<br /><span style="color:#66cc66">▲6.4%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px"><span style="color:#66cc66">−5.5%</span> / −17.4% / <span style="color:#ff9900">−2.3%</span></td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Keysight Technologies</b><br /><span style="color:#8a8a8a;font-size:9px">test & measurement</span></td><td style="color:#d9d9d9;padding:5px">−5.0</td><td style="color:#66cc66;padding:5px">+0.9</td><td style="color:#d9d9d9;padding:5px">$335.00<br /><span style="color:#66cc66">▲11.3%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px"><span style="color:#66cc66">−1.1%</span> / −13.5% / <span style="color:#ff9900">−1.1%</span></td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Enphase Energy</b><br /><span style="color:#8a8a8a;font-size:9px">power semis</span></td><td style="color:#d9d9d9;padding:5px">−4.7</td><td style="color:#66cc66;padding:5px">+0.6</td><td style="color:#d9d9d9;padding:5px">$34.64<br /><span style="color:#66cc66">▲25.6%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px"><span style="color:#66cc66">+9.9%</span> / −5.8% / <span style="color:#ff9900">−4.7%</span></td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Analog Devices</b><br /><span style="color:#8a8a8a;font-size:9px">analog / signal</span></td><td style="color:#d9d9d9;padding:5px">−4.4</td><td style="color:#66cc66;padding:5px">+1.1</td><td style="color:#d9d9d9;padding:5px">$375.72<br /><span style="color:#66cc66">▲8.6%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px"><span style="color:#66cc66">−0.6%</span> / −9.8% / <span style="color:#ff9900">−0.8%</span></td></tr> <tr style="background-color:#182a20"><td style="color:#d9d9d9;padding:5px"><b>FormFactor</b><br /><span style="color:#8a8a8a;font-size:9px">test / probe</span></td><td style="color:#d9d9d9;padding:5px">−4.4</td><td style="color:#66cc66;padding:5px">+0.9</td><td style="color:#d9d9d9;padding:5px">$118.38<br /><span style="color:#66cc66">▲18.6%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px"><span style="color:#66cc66">−4.4%</span> / −27.4% / <span style="color:#ff9900">+3.0%</span></td></tr> <p style="margin:8px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10px;line-height:1.6">The deepest turns (Cirrus −8.4, MACOM −8.1) carry the most room back to the mean; the sharpest weekly acceleration in the group is Qualcomm (ΔQ +1.9). The same fresh signals show up in overseas memory and passives names, held back from this extract for space.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Positive Reversals — One Step Behind the Deep Turns</p> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12px;line-height:1.6">Confirmed positive turns with Q above −4 — memory, foundry and the equipment layer a step behind the deep turns above.</p> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Micron Technology</b><br /><span style="color:#8a8a8a;font-size:9px">memory / HBM</span></td><td style="color:#d9d9d9;padding:5px">+1.6</td><td style="color:#66cc66;padding:5px">+1.4</td><td style="color:#d9d9d9;padding:5px">$1,015.80<br /><span style="color:#66cc66">▲10.2%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px">−6.4% / −23.1% / <span style="color:#ff9900">+4.2%</span></td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Taiwan Semiconductor (ADR)</b><br /><span style="color:#8a8a8a;font-size:9px">foundry</span></td><td style="color:#d9d9d9;padding:5px">0.0</td><td style="color:#66cc66;padding:5px">+1.0</td><td style="color:#d9d9d9;padding:5px">$434.67<br /><span style="color:#66cc66">▲5.5%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px">−2.6% / −10.8% / <span style="color:#ff9900">+0.3%</span></td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Coherent</b><br /><span style="color:#8a8a8a;font-size:9px">photonics / AI optics</span></td><td style="color:#d9d9d9;padding:5px">−0.3</td><td style="color:#66cc66;padding:5px">+1.9</td><td style="color:#d9d9d9;padding:5px">$317.36<br /><span style="color:#66cc66">▲27.8%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px">−3.2% / −34.3% / <span style="color:#ff9900">+3.9%</span></td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Teradyne</b><br /><span style="color:#8a8a8a;font-size:9px">test equipment</span></td><td style="color:#d9d9d9;padding:5px">−2.6</td><td style="color:#66cc66;padding:5px">+1.1</td><td style="color:#d9d9d9;padding:5px">$371.47<br /><span style="color:#66cc66">▲19.7%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px">+0.7% / −18.3% / <span style="color:#ff9900">−2.2%</span></td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Arm Holdings (ADR)</b><br /><span style="color:#8a8a8a;font-size:9px">compute IP</span></td><td style="color:#d9d9d9;padding:5px">−1.7</td><td style="color:#66cc66;padding:5px">+0.7</td><td style="color:#d9d9d9;padding:5px">$275.61<br /><span style="color:#66cc66">▲15.9%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px">−5.6% / −27.1% / <span style="color:#ff9900">+4.1%</span></td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Marvell Technology</b><br /><span style="color:#8a8a8a;font-size:9px">data-centre silicon</span></td><td style="color:#d9d9d9;padding:5px">+1.3</td><td style="color:#66cc66;padding:5px">+1.4</td><td style="color:#d9d9d9;padding:5px">$244.25<br /><span style="color:#66cc66">▲12.0%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px">−8.0% / −27.9% / <span style="color:#ff9900">+3.5%</span></td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Entegris</b><br /><span style="color:#8a8a8a;font-size:9px">materials / equipment</span></td><td style="color:#d9d9d9;padding:5px">0.0</td><td style="color:#66cc66;padding:5px">+1.4</td><td style="color:#d9d9d9;padding:5px">$142.25<br /><span style="color:#66cc66">▲20.4%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px">+0.3% / −19.9% / <span style="color:#ff9900">+1.3%</span></td></tr> <tr style="background-color:#182a20"><td style="color:#d9d9d9;padding:5px"><b>Intel</b><br /><span style="color:#8a8a8a;font-size:9px">foundry / compute</span></td><td style="color:#d9d9d9;padding:5px">−2.6</td><td style="color:#66cc66;padding:5px">+0.7</td><td style="color:#d9d9d9;padding:5px">$108.60<br /><span style="color:#66cc66">▲7.6%</span></td><td style="color:#d9d9d9;font-size:10px;padding:5px">−10.1% / −27.7% / <span style="color:#ff9900">+5.5%</span></td></tr> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Street Corroboration — Third-Party Consensus, Not Quantmatix Output</p> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12px;line-height:1.6">The figures below are third-party analyst consensus data, sourced from external providers and shown for context only — they are not Quantmatix model output and are not endorsed by Quantmatix. Shown against the 18 Sep close, for the names carrying the deepest turns above.</p> <td style="color:#ffffff;font-size:8.5px;font-weight:bold;padding:5px">Close</td> <td style="color:#ffffff;font-size:8.5px;font-weight:bold;padding:5px">Consensus Δ</td> <td style="color:#ffffff;font-size:8.5px;font-weight:bold;padding:5px">Analyst View</td> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Micron</b></td><td style="color:#d9d9d9;padding:5px">$1,015.80</td><td style="color:#66cc66;font-weight:bold;padding:5px">+52%</td><td style="color:#d9d9d9;padding:5px">Strongly positive (58 · 10 · 2)</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Arm Holdings</b></td><td style="color:#d9d9d9;padding:5px">$275.61</td><td style="color:#66cc66;font-weight:bold;padding:5px">+32%</td><td style="color:#d9d9d9;padding:5px">Positive-tilted</td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Analog Devices</b></td><td style="color:#d9d9d9;padding:5px">$375.72</td><td style="color:#66cc66;font-weight:bold;padding:5px">+28%</td><td style="color:#d9d9d9;padding:5px">Positive-tilted</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Teradyne</b></td><td style="color:#d9d9d9;padding:5px">$371.47</td><td style="color:#66cc66;font-weight:bold;padding:5px">+24%</td><td style="color:#d9d9d9;padding:5px">Positive-tilted</td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Coherent</b></td><td style="color:#d9d9d9;padding:5px">$317.36</td><td style="color:#66cc66;font-weight:bold;padding:5px">+23%</td><td style="color:#d9d9d9;padding:5px">Positive-tilted</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px"><b>Marvell</b></td><td style="color:#d9d9d9;padding:5px">$244.25</td><td style="color:#66cc66;font-weight:bold;padding:5px">+11%</td><td style="color:#d9d9d9;padding:5px">Strongly positive (60 · 12 · 1)</td></tr> <tr style="background-color:#202020"><td style="color:#d9d9d9;padding:5px"><b>Qualcomm</b></td><td style="color:#d9d9d9;padding:5px">$177.72</td><td style="color:#66cc66;font-weight:bold;padding:5px">+15%</td><td style="color:#ff9900;font-weight:bold;padding:5px">Split — Street still cautious (30 · 34 · 5)</td></tr> <p style="margin:8px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10px;line-height:1.6">Qualcomm is the point of interest: the model carries the sharpest weekly acceleration in the group (ΔQ +1.9) while the Street remains split (30 positive · 34 neutral · 5 negative). That places the model’s read ahead of consensus rather than behind it — an earlier reading, not a confirmation of the Street’s view. Micron carries both the strongest consensus positioning and a fresh model turn into its quarter, addressed below.</p> <p style="margin:0;color:#ff6666;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">The Other Side — Software High-Score Negative Reversals</p> <tr><td style="background-color:#1a1a1a;padding:10px 24px 20px 24px"> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12px;line-height:1.6">Twenty-four names in Software & Services carry a confirmed High-Score Negative Reversal (Q +7 to +10, turning down), against four Deep Positive Reversals in a group more than twice the size of semiconductors and hardware combined. These are exhaustion signals on names that have run hot, not fresh negative calls — a relative read that momentum is leaving application software for the layer underneath it.</p> </td><td style="color:#ffffff;font-size:8.5px;font-weight:bold;padding:5px">Wk</td> </tr><tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px">Manhattan Associates</td><td style="color:#ff6666;font-weight:bold;padding:5px">+9.0</td><td style="color:#d9d9d9;padding:5px">−0.3</td><td style="color:#66cc66;padding:5px">+4.8%</td></tr> <tr style="background-color:#2e2318;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px">Gen Digital</td><td style="color:#ff6666;font-weight:bold;padding:5px">+8.7</td><td style="color:#d9d9d9;padding:5px">−0.9</td><td style="color:#ff6666;padding:5px">−4.1%</td></tr> <tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px">Five9 · Amplitude · Sprout Social</td><td style="color:#ff6666;font-weight:bold;padding:5px">+8.6</td><td style="color:#8a8a8a;padding:5px">cluster</td><td style="color:#8a8a8a;padding:5px">—</td></tr> <tr style="background-color:#2e2318;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px">GitLab</td><td style="color:#ff6666;font-weight:bold;padding:5px">+8.4</td><td style="color:#d9d9d9;padding:5px">−0.6</td><td style="color:#66cc66;padding:5px">+4.8%</td></tr> <tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:5px">Box · Intapp · Computacenter</td><td style="color:#ff6666;font-weight:bold;padding:5px">+8.1–8.3</td><td style="color:#8a8a8a;padding:5px">cluster</td><td style="color:#8a8a8a;padding:5px">—</td></tr> <tr style="background-color:#2e2318"><td style="color:#d9d9d9;padding:5px">Bill.com</td><td style="color:#ff6666;font-weight:bold;padding:5px">+8.0</td><td style="color:#d9d9d9;padding:5px">−0.6</td><td style="color:#66cc66;padding:5px">+0.7%</td></tr> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Early Warnings — Q Signals, Not Yet Confirmed</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">A Q Signal is the model’s earliest-stage warning of a potential reversal — a different, earlier read than a confirmed reversal, and not a directional recommendation. Two are notable this week, one at each end of the stack. <b>GLOBALFOUNDRIES</b> is flashing a <b style="color:#66cc66">positive Q Signal</b> while Advancing at Q −8.9 — a foundry name at the very bottom of the band, the earliest possible stage of the same turn showing across the chip cluster. <b>DXC Technology</b> is flashing a <b style="color:#ff6666">negative Q Signal</b> at Q +9.0 and Declining — an early warning at the top, consistent with the software rollover.</p> <tr><td style="background-color:#202020;padding:16px 24px;border-left:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">The Thread — One Story</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">The technology turn is narrow and specific: it sits in the chips, not the software, and it follows where AI infrastructure spending is landing — memory, custom silicon, foundry and the equipment layer, turning up from the bottom of the score band with no exhaustion anywhere in semiconductors. Consensus already sits above price on the marquee names, and on Qualcomm the model is reading ahead of a still-cautious Street. The other side of the same read is the software rollover: infrastructure spend is taking budget from applications, and that is where the High-Score Negatives are concentrated. The Velocity is in the layer that gets paid first; the exhaustion is in the layer that pays.</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">A Q Signal is an early warning of model state, not an instruction to transact. Reference bands, close prices and reversal flags are subject to change with each nightly scoring run. The levels behind every name mentioned here are set out in the full research.</p> <tbody><tr><td style="background-color:#2e2318;border:1px solid #4d3a1a;border-radius:3px;padding:14px 16px"> <p style="margin:0 0 4px 0;color:#ff9900;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">What Would Flip the Read</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6">The view changes if any of these turn: semiconductor breadth rolls back over (Advancing share falling from 60% while scores stay negative — a failed turn); the deepest-turn names slip back to Declining (Cirrus Logic, MACOM, Rambus, Qualcomm); Micron’s quarter breaks the memory read and the cluster loses its footing; or software stops rolling over and the High-Score Negative cluster switches back off, which would say the rotation down the stack has stalled.</p> <tbody><tr><td style="background-color:#202020;padding:12px 14px;border-left:3px solid #333333"> <p style="margin:0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:11px;line-height:1.6"><b style="color:#aaaaaa">Data & method.</b> The Q Score is a proprietary measure of Velocity (Direction and Momentum), −10 (deeply beaten down) to +10 (stretched), computed here on the weekly (medium-horizon) timeframe across 606 technology instruments. A <b>Q Signal</b> is the model’s earliest-stage warning of a potential reversal (not a directional recommendation); a <b>Deep Positive Reversal</b> is a confirmed positive reversal on a Q Score of −4 to −10; a <b>High Score Negative Reversal (HSNR)</b> is a confirmed downward turn from a Q Score of +7 to +10. Reference bands (Upside Ref. / Mean Ref. / Downside Ref.) are the model’s trading bands from the 18 Sep close and are estimates, not forecasts or guarantees. Third-party consensus targets and analyst ratings are shown for context only, sourced from external data providers, and are not Quantmatix output. All figures are Quantmatix data as at 18 September 2026 and subject to change with each nightly scoring run.</p> <tbody><tr><td style="background-color:#152030;padding:16px 18px;border-radius:3px;border-left:3px solid #DEDC04"> <p style="margin:0;color:#e6e6e6;font-family:Arial,sans-serif;font-size:13px;line-height:1.6"><b style="color:#DEDC04">The full technology & semiconductors extract is available to subscribers now.</b> All 606 names, scored nightly across weekly and daily horizons, across our full universe of 10,000 markets. Subscribe at <b style="color:#DEDC04"><a href="http://quantmatix.com" style="color:#DEDC04;text-decoration:none">quantmatix.com</a></b>, or get in touch directly: <b style="color:#DEDC04"><a href="mailto:Liam.Boggan@quantmatix.com" style="color:#DEDC04;text-decoration:none">Liam.Boggan@quantmatix.com</a></b> · Enterprise & institutional: <b style="color:#DEDC04"><a href="mailto:Colm.Gaughran@quantmatix.com" style="color:#DEDC04;text-decoration:none">Colm.Gaughran@quantmatix.com</a></b>.</p> </td></tr><tr><td style="background-color:#141414;padding:16px 24px;border-top:1px solid #2a2a2a"> <p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"> <strong style="color:#aaaaaa">Important Notice:</strong> This is internal working analysis of Quantmatix’s own quantitative model output, produced by Quantmatix and shared identically with all recipients, ranked solely on objective model metrics. It is provided for informational purposes only and does not constitute investment advice, a personal recommendation, or an offer or solicitation to buy or sell any financial instrument. References to individual instruments describe the output of our models — including Q Scores, Q Signals, Deep Positive Reversals and High Score Negative Reversals — and are identical for all recipients; they do not take into account any recipient’s individual investment objectives, financial situation or needs. A Q Signal is an early warning of a potential reversal and does not represent a directional recommendation. Q Scores, reversal flags and reference bands (Upside Ref. / Mean Ref. / Downside Ref.) are model estimates as at the date of writing, not forecasts or guarantees, and are subject to change with each scoring run. Third-party analyst consensus targets and ratings are shown for context only, are sourced from external data providers, are not Quantmatix output, and are not endorsed by Quantmatix. Past signal performance is not indicative of future results. Recipients should conduct independent due diligence and, where appropriate, seek advice from an authorised financial adviser before making any investment decision. Quantmatix is not authorised to provide investment advice under MiFID II. Quantmatix, its employees or associated persons may hold positions in instruments mentioned. Methodology available on request. <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/00a9.png?v=61548701430" class="not-responsive emoji emoji-android emoji--copyright" style="height:23px;width:auto;vertical-align:middle" title="©" alt="©" /> 2026 Quantmatix Limited. All rights reserved. </p> </td></tr><tr><td style="background-color:#152030;padding:16px 24px;text-align:center"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold">Quantmatix · Technology & Semiconductors · 18 September 2026</p></td></tr></tbody></td></tr></tbody></td></tr></tbody></td></tr></table></td></tr></tbody></table></td></tr></table></td></tr></tbody></table></td></tr></tbody></table>

Quantmatix — US & Europe: Themes, Sectors & Highest Expected-Value Signal Reads <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <table style="max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:22px 24px 18px 24px;border-bottom:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#8fa3bd;font-family:Arial,sans-serif;font-size:9.5px;font-weight:bold;letter-spacing:2px;text-transform:uppercase">Quantmatix · Sector Research — US & Europe · Institutional Research</p> <p style="margin:0 0 8px 0;color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1.35">US & Europe — Themes, Sectors & Highest Expected-Value Signal Reads</p> </td></tr> <tr><td style="background-color:#202020;padding:18px 24px;border-left:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">The Read</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Model breadth is Positive and broadening. The US universe reads <b style="color:#66cc66">54% Advancing / 64% Positive</b> on the weekly Q Score — our proprietary measure of Velocity (Direction and Momentum) — with <b style="color:#66cc66">75 Deep Positive Reversals</b>. Europe reads <b style="color:#66cc66">60% Advancing / 57% Positive</b> with <b style="color:#66cc66">106 Deep Positive Reversals</b>. The strongest velocity sits in the cyclical complex — Energy and Materials — alongside a clear precious-metals lead in the cross-asset feed.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:20px 24px 4px 24px"> <table style="border-collapse:collapse;font-family:Arial,sans-serif;text-align:center"> <tbody><tr style="background-color:#152030"> <td style="color:#d9d9d9;padding:10px">US Advancing / Positive<br /><span style="font-size:15px;font-weight:bold;color:#66cc66">54% / 64%</span></td> <td style="color:#d9d9d9;padding:10px">US Deep Positive Reversals<br /><span style="font-size:18px;font-weight:bold;color:#66cc66">75</span></td> <td style="color:#d9d9d9;padding:10px">Europe Advancing / Positive<br /><span style="font-size:15px;font-weight:bold;color:#66cc66">60% / 57%</span></td> <td style="color:#d9d9d9;padding:10px">Europe Deep Positive Reversals<br /><span style="font-size:18px;font-weight:bold;color:#66cc66">106</span></td> </tr> </tbody></table> </td></tr><tr><td style="background-color:#1a1a1a;padding:22px 24px 4px 24px"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Key Themes on the Move</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:12px 24px 0px 24px"> <table> <tbody><tr><td style="padding:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6"><b style="color:#66cc66">Commodity & cyclical complex is where the new signals sit</b> — this week’s fresh Top Quantmatix / TEVO activations cluster almost entirely in Materials (Celanese, Albemarle, Alpha Met, Glencore) and Energy (Liberty Energy, Brookfield Renewable), consistent with Energy as the US Max Overweight sector at 89% Advancing.</td></tr> <tr><td style="padding:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6"><b style="color:#66cc66">Precious-metals leadership in the cross-asset feed</b> — SPDR Gold and the gold-miner and metals-&-mining proxies are Advancing off a beaten-up base; the clearest velocity outside single stocks.</td></tr> <tr><td style="padding:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6"><b style="color:#66cc66">“Advancing Positive” profile</b> — the qualifying new-signal names carry deeply negative Q Scores (roughly -5 to -8) turning up from a beaten-up base: an early-stage reversal footprint, not a late-stage one.</td></tr> <tr><td style="padding:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6"><b style="color:#66cc66">Softer dollar, firmer international</b> — the US Dollar proxy is Declining in momentum while MSCI Europe and EAFE Advance; US small-caps (Russell 2000) are the notable laggard, Declining.</td></tr> <tr><td style="padding:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6"><b style="color:#66cc66">Europe: breadth is Positive but the signals are shallow</b> — Energy, Materials and Communication Services all read Positive, yet only Glencore and Husqvarna printed fresh large/mid-cap signals with positive Expected Value this week; the highest-EV European name, Headlam, is micro-cap.</td></tr> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Sectors on the Move · United States</p> <tr><td style="background-color:#1a1a1a;padding:10px 24px 0px 24px"> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:12px"> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Sector</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Adv / Pos %</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Model State</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Signal Cluster</td> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>Energy</b></td> <td style="color:#d9d9d9;padding:6px">89<span style="color:#8a8a8a">/42</span></td> <td style="padding:6px"><span style="color:#66cc66;font-size:10px;font-weight:bold">Max Overweight</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲10</span> <span style="color:#ff6666;font-weight:bold">▼3</span></td> </tr><tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px">Materials</td> <td style="color:#d9d9d9;padding:6px">68<span style="color:#8a8a8a">/48</span></td> <td style="padding:6px"><span style="color:#66cc66;font-size:10px;font-weight:bold">Overweight</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲6</span> <span style="color:#ff6666;font-weight:bold">▼1</span></td> <td style="color:#d9d9d9;padding:6px">Financials</td> <td style="color:#d9d9d9;padding:6px">61<span style="color:#8a8a8a">/85</span></td> <td style="padding:6px"><span style="color:#66cc66;font-size:10px;font-weight:bold">Neutral Positive</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲8</span> <span style="color:#ff6666;font-weight:bold">▼28</span></td> </tr><tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px">Consumer Staples</td> <td style="color:#d9d9d9;padding:6px">60<span style="color:#8a8a8a">/61</span></td> <td style="padding:6px"><span style="color:#ff6666;font-size:10px;font-weight:bold">Neutral Negative</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲4</span> <span style="color:#ff6666;font-weight:bold">▼3</span></td> </tr><tr style="background-color:#2e2318;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px">Communication Services</td> <td style="color:#d9d9d9;padding:6px">58<span style="color:#8a8a8a">/51</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲6</span> <span style="color:#ff6666;font-weight:bold">▼4</span></td> <td style="color:#d9d9d9;padding:6px">Information Technology</td> <td style="color:#d9d9d9;padding:6px">57<span style="color:#8a8a8a">/53</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲7</span> <span style="color:#ff6666;font-weight:bold">▼8</span></td> <td style="color:#d9d9d9;padding:6px">Health Care</td> <td style="color:#d9d9d9;padding:6px">49<span style="color:#8a8a8a">/80</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲9</span> <span style="color:#ff6666;font-weight:bold">▼14</span></td> <td style="color:#d9d9d9;padding:6px">Industrials</td> <td style="color:#d9d9d9;padding:6px">47<span style="color:#8a8a8a">/55</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲10</span> <span style="color:#ff6666;font-weight:bold">▼5</span></td> <td style="color:#d9d9d9;padding:6px">Consumer Discretionary</td> <td style="color:#d9d9d9;padding:6px">45<span style="color:#8a8a8a">/56</span></td> <td style="padding:6px"><span style="color:#ff6666;font-size:10px;font-weight:bold">Underweight</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲9</span> <span style="color:#ff6666;font-weight:bold">▼3</span></td> <td style="color:#d9d9d9;padding:6px">Utilities</td> <td style="color:#d9d9d9;padding:6px">33<span style="color:#8a8a8a">/42</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲4</span></td> </tr><tr style="background-color:#2e1a1a"> <td style="color:#d9d9d9;padding:6px">Real Estate</td> <td style="color:#d9d9d9;padding:6px">22<span style="color:#8a8a8a">/78</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲2</span> <span style="color:#ff6666;font-weight:bold">▼5</span></td> <p style="margin:8px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6"><b style="color:#aaaaaa">Slowing (context):</b> Real Estate (22% Advancing) and Utilities (33%) are the US laggards; Financials carries the heaviest High-Score Negative Reversal count (28) — mature, not accelerating.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Sectors on the Move · Europe</p> <td style="color:#d9d9d9;padding:6px">Energy</td> <td style="color:#d9d9d9;padding:6px">73<span style="color:#8a8a8a">/54</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲3</span> <span style="color:#ff6666;font-weight:bold">▼1</span></td> <td style="color:#d9d9d9;padding:6px">66<span style="color:#8a8a8a">/48</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲7</span> <span style="color:#ff6666;font-weight:bold">▼2</span></td> <td style="color:#d9d9d9;padding:6px">64<span style="color:#8a8a8a">/75</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲7</span> <span style="color:#ff6666;font-weight:bold">▼19</span></td> <td style="color:#d9d9d9;padding:6px">62<span style="color:#8a8a8a">/60</span></td> <td style="color:#d9d9d9;padding:6px">61<span style="color:#8a8a8a">/58</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲13</span> <span style="color:#ff6666;font-weight:bold">▼5</span></td> <td style="color:#d9d9d9;padding:6px">58<span style="color:#8a8a8a">/56</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲21</span> <span style="color:#ff6666;font-weight:bold">▼11</span></td> <td style="color:#d9d9d9;padding:6px">56<span style="color:#8a8a8a">/55</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲13</span> <span style="color:#ff6666;font-weight:bold">▼1</span></td> <td style="color:#d9d9d9;padding:6px">56<span style="color:#8a8a8a">/46</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲15</span></td> <td style="color:#d9d9d9;padding:6px">37<span style="color:#8a8a8a">/45</span></td> <td style="padding:6px;font-size:10px;white-space:nowrap"><span style="color:#66cc66;font-weight:bold">▲2</span></td> <p style="margin:8px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6"><b style="color:#aaaaaa">Slowing (context):</b> Utilities (37% Advancing) is the sole Underweight model state in Europe; Health Care and Consumer Discretionary breadth is decelerating despite positive scores.</p> <p style="margin:6px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10px;line-height:1.5">Adv / Pos % = share Advancing (accelerating) / share with a Positive score. Model State uses Quantmatix’s standard six-tier scale: Max Overweight, Overweight, Neutral Positive, Neutral Negative, Underweight, Max Underweight. Signal Cluster: ▲ Deep Positive Reversals, ▼ High-Score Negative Reversals.</p> <p style="margin:0;color:#66cc66;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Highest Expected-Value Signal Reads · United States</p> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Name / New Signal</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Q / Δ</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Exp. Value</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Freq.</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Room→Ref. Level</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Risk</td> <td style="color:#d9d9d9;padding:6px;vertical-align:top"> <b>1. Celanese Corporation</b><br /> <span style="color:#8a8a8a;font-size:10px">CE · Mid cap · Materials · Earnings 05 Nov</span><br /> <span style="color:#C8A84B;font-weight:bold;font-size:10px">★ TOP QUANTMATIX</span> <span style="color:#8fa3bd;font-weight:bold;font-size:10px">◐ TEVO</span> <span style="color:#66cc66;font-size:10px">NEW · w/e 14 Aug</span> </td> <td style="padding:6px;vertical-align:top"> <span style="color:#ff6666;font-weight:bold">-5.9</span><br /><span style="color:#8a8a8a;font-size:10px">Δ +0.7</span><br /><span style="color:#66cc66;font-size:10px;font-weight:bold">▲ Advancing Positive</span> </td><td style="padding:6px;vertical-align:top"><span style="color:#66cc66;font-weight:bold">+3.6%</span></td> <td style="padding:6px;vertical-align:top;color:#d9d9d9">74%</td> <td style="padding:6px;vertical-align:top;color:#66cc66;font-weight:bold">+10.5%</td> <td style="padding:6px;vertical-align:top;color:#d9d9d9">-0.4%<br /><span style="color:#8a8a8a;font-size:9px">to Wk Mean</span></td> <b>2. Albemarle Corporation</b><br /> <span style="color:#8a8a8a;font-size:10px">ALB · Large cap · Materials · Earnings 04 Nov</span><br /> <span style="color:#8fa3bd;font-weight:bold;font-size:10px">◐ TEVO</span> <span style="color:#66cc66;font-size:10px">NEW · w/e 14 Aug</span> <span style="color:#ff6666;font-weight:bold">-7.3</span><br /><span style="color:#8a8a8a;font-size:10px">Δ +1.7</span><br /><span style="color:#66cc66;font-size:10px;font-weight:bold">▲ Advancing Positive</span> <td style="padding:6px;vertical-align:top"><span style="color:#66cc66;font-weight:bold">+0.7%</span></td> <td style="padding:6px;vertical-align:top;color:#d9d9d9">76%</td> <td style="padding:6px;vertical-align:top;color:#66cc66;font-weight:bold">+7.7%</td> <td style="padding:6px;vertical-align:top;color:#d9d9d9">+8.3%<br /><span style="color:#8a8a8a;font-size:9px">to Wk Mean</span></td> </tr><tr style="background-color:#182a20"> <b>3. McDonald’s Corporation</b><br /> <span style="color:#8a8a8a;font-size:10px">MCD · Large cap · Consumer Discretionary · Earnings 04 Nov</span><br /> <span style="color:#66cc66;font-size:10px">NEW · w/e 14 Aug</span> <span style="color:#ff6666;font-weight:bold">-6.1</span><br /><span style="color:#8a8a8a;font-size:10px">Δ +0.9</span><br /><span style="color:#66cc66;font-size:10px;font-weight:bold">▲ Advancing Positive</span> <td style="padding:6px;vertical-align:top"><span style="color:#66cc66;font-weight:bold">+1.9%</span></td> <td style="padding:6px;vertical-align:top;color:#66cc66;font-weight:bold">+4.1%</td> <td style="padding:6px;vertical-align:top;color:#d9d9d9">+0.2%<br /><span style="color:#8a8a8a;font-size:9px">to Wk Mean</span></td> <p style="margin:0;color:#66cc66;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Highest Expected-Value Signal Reads · Europe</p> <b>1. Halma plc</b><br /> <span style="color:#8a8a8a;font-size:10px">HLMA · Large cap · Information Technology · Earnings 19 Nov</span><br /> <span style="color:#ff6666;font-weight:bold">-8.6</span><br /><span style="color:#8a8a8a;font-size:10px">Δ +0.6</span><br /><span style="color:#66cc66;font-size:10px;font-weight:bold">▲ Advancing Positive</span> <td style="padding:6px;vertical-align:top"><span style="color:#66cc66;font-weight:bold">+6.0%</span></td> <td style="padding:6px;vertical-align:top;color:#d9d9d9">87%</td> <td style="padding:6px;vertical-align:top;color:#66cc66;font-weight:bold">+7.8%</td> <td style="padding:6px;vertical-align:top;color:#d9d9d9">-0.2%<br /><span style="color:#8a8a8a;font-size:9px">to Wk Mean</span></td> <b>2. Bayerische Motoren Werke AG</b><br /> <span style="color:#8a8a8a;font-size:10px">BMW · Large cap · Consumer Discretionary · Earnings 04 Nov</span><br /> <span style="color:#ff6666;font-weight:bold">-7.9</span><br /><span style="color:#8a8a8a;font-size:10px">Δ +0.7</span><br /><span style="color:#66cc66;font-size:10px;font-weight:bold">▲ Advancing Positive</span> <td style="padding:6px;vertical-align:top"><span style="color:#66cc66;font-weight:bold">+2.0%</span></td> <td style="padding:6px;vertical-align:top;color:#d9d9d9">71%</td> <td style="padding:6px;vertical-align:top;color:#66cc66;font-weight:bold">+5.8%</td> <td style="padding:6px;vertical-align:top;color:#d9d9d9">+0.7%<br /><span style="color:#8a8a8a;font-size:9px">to Wk Mean</span></td> <b>3. Glencore plc</b><br /> <span style="color:#8a8a8a;font-size:10px">GLEN · Large cap · Materials · Earnings 24 Feb</span><br /> <span style="color:#C8A84B;font-weight:bold;font-size:10px">★ TOP QUANTMATIX</span> <span style="color:#66cc66;font-size:10px">NEW · w/e 14 Aug</span> <span style="color:#ff6666;font-weight:bold">-7.6</span><br /><span style="color:#8a8a8a;font-size:10px">Δ +0.4</span><br /><span style="color:#66cc66;font-size:10px;font-weight:bold">▲ Advancing Positive</span> <td style="padding:6px;vertical-align:top;color:#d9d9d9">72%</td> <td style="padding:6px;vertical-align:top;color:#66cc66;font-weight:bold">+5.6%</td> <td style="padding:6px;vertical-align:top;color:#d9d9d9">+3.9%<br /><span style="color:#8a8a8a;font-size:9px">to Wk Mean</span></td> <p style="margin:10px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6">Giant / Large / Mid-cap names Advancing on a current signal this week, screened for <b style="color:#aaaaaa">positive Expected Value</b> and a <b style="color:#aaaaaa">reversal-completion frequency (Freq.) above 70%</b>, ranked by <b style="color:#aaaaaa">room to the Ref. Level</b>, then Expected Value, then Freq. Expected Value = upside Freq. × upside-to-Ref. Level − downside Freq. × downside-to-Downside Ref. Distance to the Weekly Mean is the model’s momentum risk line.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Model Read</p> </tr><tr><td style="background-color:#1a1a1a;padding:10px 24px 20px 24px"> <table style="border-collapse:collapse"> <tbody><tr><td style="background-color:#202020;padding:14px 16px;border-left:3px solid #DEDC04"> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.65">The freshest Positive velocity is in the commodity / cyclical complex — <b style="color:#ffffff">CE, ALB, MCD</b> in the US and <b style="color:#ffffff">HLMA, BMW, GLEN</b> in Europe — each Advancing on a current signal with positive Expected Value and room to the Ref. Level. For every name the <b>Weekly Mean is the model’s momentum risk line</b>. The Q Signal is an early warning — a ceiling, not an instruction — and every figure here is a proprietary model output, not a recommendation.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:0px 24px 4px 24px"> <tbody><tr><td style="background-color:#152030;padding:16px 18px;border-radius:3px;border-left:3px solid #DEDC04"> <p style="margin:0;color:#e6e6e6;font-family:Arial,sans-serif;font-size:13px;line-height:1.6"><b style="color:#DEDC04">The full US & Europe sector and signal extract is available to subscribers now.</b> Scored nightly across our full universe of 10,000 markets, with model reference levels, reversal-completion frequencies and Expected Value for every qualifying name. Subscribe at <b style="color:#DEDC04"><a href="http://quantmatix.com" style="color:#DEDC04;text-decoration:none">quantmatix.com</a></b>, or get in touch directly: <b style="color:#DEDC04"><a href="mailto:Liam.Boggan@quantmatix.com" style="color:#DEDC04;text-decoration:none">Liam.Boggan@quantmatix.com</a></b> · Enterprise & institutional: <b style="color:#DEDC04"><a href="mailto:Colm.Gaughran@quantmatix.com" style="color:#DEDC04;text-decoration:none">Colm.Gaughran@quantmatix.com</a></b>.</p> </td></tr><tr><td style="background-color:#141414;padding:16px 24px;border-top:1px solid #2a2a2a" class="rz-html-editor-cell-selected"> <p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"><br /></p><p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"> <strong style="color:#aaaaaa">Important Notice:</strong> Produced and published by Quantmatix (producer: Liam Boggan, Head of Research) for general information only, and shared identically with all recipients of this channel. Sources: Quantmatix proprietary model data for the week ending 14 August 2026. Quantmatix is not authorised to provide investment advice under MiFID II and nothing herein is a personal recommendation, investment advice, or an offer or solicitation to buy, sell or hold any instrument; it is not tailored to any recipient’s circumstances. The Q Score, Velocity, Top Quantmatix, TEVO, reversals, reversal-completion frequency (Freq.) and Expected Value are proprietary quantitative model outputs describing model state — “Advancing/Declining” and “Positive/Negative” refer to the direction and momentum of the model score, not the merits of an investment. A Q Signal is an early warning of a potential change in momentum — a ceiling, not a signal to buy or sell. Past performance and modelled probabilities are not a reliable indicator of future results; the Ref. Level is a model reference level, not a price target or prediction. Capital is at risk. Seek advice from an appropriately authorised independent financial adviser. Methodology available on request. <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/00a9.png?v=61548701430" class="not-responsive emoji emoji-android emoji--copyright" style="height:23px;width:auto;vertical-align:middle" title="©" alt="©" /> 2026 Quantmatix Limited. All rights reserved. </p> </td></tr><tr><td style="background-color:#152030;padding:16px 24px;text-align:center"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold">Quantmatix · Sector Research — US & Europe · 15 August 2026</p> <tbody><tr><td style="padding:0 0 20px 0"> <tbody><tr><td style="padding:0 24px;font-family:Arial,sans-serif;color:#d9d9d9;font-size:13px;line-height:1.6"> Kind Regards,<br /><br /> Liam<br /><br /> <b>Liam Boggan</b> | CEO & Founder<br /> <a href="mailto:liam.boggan@quantmatix.com" style="color:#DEDC04">liam.boggan@quantmatix.com</a><br /> +353 872313505<br /> +44 7765111246<br /><br /> <a href="https://calendly.com/liam-boggan-quantmatix/demo" style="color:#DEDC04">Click to book a Demo or a Meeting with Liam</a><br /><br /> <a href="https://quantmatix.com/" style="color:#DEDC04">quantmatix.com</a></td></tr></tbody></td></tr></tbody></td></tr></tbody></td></tr></tbody></table></td></tr></table></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table>

Quantmatix — El Niño: The Repricing Has Begun <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <table style="max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:22px 24px 18px 24px;border-bottom:3px solid #DEDC04" class="rz-html-editor-cell-selected"> <p style="margin:0 0 6px 0;color:#8fa3bd;font-family:Arial,sans-serif;font-size:9.5px;font-weight:bold;letter-spacing:2px;text-transform:uppercase">Quantmatix · Global Thematic Research · El Niño 2026 · Institutional Research</p> <p style="margin:0 0 6px 0;color:#ffffff;font-family:Arial,sans-serif;font-size:19px;font-weight:bold;line-height:1.3">El Niño: The Repricing Has Begun</p> <p style="margin:0 0 8px 0;color:#c9d6ea;font-family:Arial,sans-serif;font-size:12.5px;font-style:italic">The commodity complex has turned — the window we flagged in June is now closing</p> <p style="margin:0;padding-top:8px;border-top:1px solid #2a3a4d;color:#8fa3bd;font-family:Arial,sans-serif;font-size:10px"><br /></p> </td></tr> <tr><td style="background-color:#1a1a1a;padding:18px 24px 4px 24px"> <table style="border-collapse:collapse"> <tbody><tr><td style="background-color:#241d10;border:1px solid #4d3d18;border-left:3px solid #ff9900;padding:14px 16px"> <p style="margin:0 0 6px 0;color:#ff9900;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> El Niño — Event Backdrop</p> <p style="margin:0;color:#d9c9a0;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.65">El Niño was formally declared on 11 June 2026, with a 90% probability of persisting through at least November 2026 and a forecast peak in Northern Hemisphere winter 2026–27. Strong events historically drive material agricultural supply disruption across Australia, South and Southeast Asia, sub-Saharan Africa and Central America, with a well-documented 6–18 month lag between declaration and the commodity price response. On 30 June we published <i>“Confirmed, Consequential, and Not Yet in the Price”</i> — the velocity data then showed a commodity complex still selling off, with no anticipatory positioning. Six weeks on, that has changed. This note assesses what the Quantmatix system is now reading as the event advances toward its forecast winter peak.</p> </td></tr></tbody></table> </td></tr><tr><td style="background-color:#1a1a1a;padding:16px 24px 4px 24px"> <tbody><tr><td style="background-color:#202020;padding:16px 18px;border-left:3px solid #DEDC04"> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">On 30 June, 11 of the 15 tracked agricultural commodities were Declining and there was not a single positive reversal anywhere in the complex. Today the picture has inverted: <b style="color:#66cc66">10 of 15 are Advancing</b>, and the move is concentrated in exactly the instruments with direct El Niño supply exposure — grains and sugar, the ones sold hardest in June.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:20px 24px 4px 24px"> <p style="margin:0 0 8px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Agricultural Commodity Velocity · 15 Instruments · 13 Aug 2026 Close</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:10px 24px 0px 24px"> <table style="border-collapse:collapse;font-family:Arial,sans-serif;text-align:center"> <tbody><tr style="background-color:#152030"> <td style="color:#d9d9d9;padding:10px">Advancing<br /><span style="font-size:20px;font-weight:bold;color:#66cc66">10</span><br /><span style="font-size:9.5px;color:#8fa3bd">was 4 on 30 Jun</span></td> <td style="color:#d9d9d9;padding:10px">Declining<br /><span style="font-size:20px;font-weight:bold;color:#ff6666">5</span><br /><span style="font-size:9.5px;color:#8fa3bd">was 11 on 30 Jun</span></td> <td style="color:#d9d9d9;padding:10px">Largest Q Score Change<br /><span style="font-size:16px;font-weight:bold;color:#ffffff">+2.3</span><br /><span style="font-size:9.5px;color:#8fa3bd">Raw Sugar #11</span></td> </tr> <tr><td style="background-color:#1a1a1a;padding:22px 24px 0px 24px"> <p style="margin:0 0 10px 0;color:#ffffff;font-family:Arial,sans-serif;font-size:15px;font-weight:bold">The Central Finding: The Market Has Started to Price It</p> <p style="margin:0 0 14px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">The clearest tells are in the names that have flipped from deeply negative Declining to positive Advancing. <b>Raw Sugar (#11)</b> has gone from Q −5.1 Declining to <b style="color:#66cc66">Q +4.6 Advancing</b> — a swing of nearly ten points, and the single largest Q Score change in the complex at +2.3. <b>Corn</b> has turned from −5.3 Declining to +1.3 Advancing. <b>Soybeans</b> and <b>soybean meal</b> from −4.7 Declining to +1.6 Advancing. <b>Wheat</b> from Declining to +4.0 Advancing. <b>Coffee</b> — which we flagged in June as the leading early mover — has continued its run to <b>Q +6.0</b>. This is no longer a complex with no anticipatory positioning. This is a complex turning up together.</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Two commodities have <i>not</i> joined: <b>Soybean oil</b> remains Declining at −3.3, and <b>frozen orange juice</b> at −2.4 — the laggards to watch for the next leg. And <b>cocoa</b>, the one commodity already at maximum velocity in June, has now rolled over — Advancing +9.0 in June, it is now recorded <b style="color:#ff6666">Declining at Q +9.4</b> with a decelerating Q Change. That is the exhaustion warning our June note said the system would flag first.</p> <tbody><tr><td style="background-color:#152030;padding:16px 18px;border-radius:3px;border-left:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">◆ Is the Market Taking El Niño Seriously Yet?</p> <p style="margin:0;color:#e6e6e6;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Six weeks ago the honest answer was no. Today the velocity data says the repricing has <b>begun but is not complete</b>. Sugar and coffee have moved and grains have turned, but the scores are still low — Corn at +1.3, soy at +1.6, wheat at +4.0 — early in a re-rating, not late. Soybean oil and orange juice have not moved at all. The market has started to take it seriously in the softs and grains, but the trend is young and the laggards are untouched. The window we described in June is closing — it is not yet shut.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:22px 24px 4px 24px"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">The Flip, Instrument by Instrument · 30 Jun → 13 Aug</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:11.5px"> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Commodity</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Dir.</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Q Now</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Q 30 Jun</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Q Chg</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Wk %</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Read</td> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Sugar #11 (Raw)</b></td><td style="color:#66cc66;padding:6px">▲</td><td style="color:#66cc66;font-weight:bold;padding:6px">+4.6</td><td style="color:#d9d9d9;padding:6px">−5.1</td><td style="color:#66cc66;padding:6px">+2.3</td><td style="color:#d9d9d9;padding:6px">+2.22%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Biggest turn in the complex; near resistance</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Corn</td><td style="color:#66cc66;padding:6px">▲</td><td style="color:#66cc66;font-weight:bold;padding:6px">+1.3</td><td style="color:#d9d9d9;padding:6px">−5.3</td><td style="color:#66cc66;padding:6px">+1.7</td><td style="color:#d9d9d9;padding:6px">+4.10%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Flipped from deep negative; early</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Soybean</td><td style="color:#66cc66;padding:6px">▲</td><td style="color:#66cc66;font-weight:bold;padding:6px">+1.6</td><td style="color:#d9d9d9;padding:6px">−4.7</td><td style="color:#66cc66;padding:6px">+0.9</td><td style="color:#d9d9d9;padding:6px">+0.71%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Turned positive; watch South America</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Soybean Meal</td><td style="color:#66cc66;padding:6px">▲</td><td style="color:#66cc66;font-weight:bold;padding:6px">+1.6</td><td style="color:#d9d9d9;padding:6px">−4.7</td><td style="color:#66cc66;padding:6px">+0.9</td><td style="color:#d9d9d9;padding:6px">+0.71%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Feed grain; protein cost read</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Wheat</td><td style="color:#66cc66;padding:6px">▲</td><td style="color:#66cc66;font-weight:bold;padding:6px">+4.0</td><td style="color:#ff6666;padding:6px">+1.4▼</td><td style="color:#66cc66;padding:6px">+1.1</td><td style="color:#d9d9d9;padding:6px">+2.03%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Direction flipped up; Australia in drought track</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Coffee</td><td style="color:#66cc66;padding:6px">▲</td><td style="color:#66cc66;font-weight:bold;padding:6px">+6.0</td><td style="color:#ff6666;padding:6px">−2.9</td><td style="color:#66cc66;padding:6px">+0.9</td><td style="color:#d9d9d9;padding:6px">+1.36%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Leading mover; ran from −2.9 to +6.0</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">White Sugar</td><td style="color:#66cc66;padding:6px">▲</td><td style="color:#66cc66;font-weight:bold;padding:6px">+4.7</td><td style="color:#ff6666;padding:6px">+5.9▼</td><td style="color:#d9d9d9;padding:6px">0.0</td><td style="color:#d9d9d9;padding:6px">+0.70%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Direction now confirmed Advancing; pressing resistance</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Cotton</td><td style="color:#66cc66;padding:6px">▲</td><td style="color:#66cc66;font-weight:bold;padding:6px">+4.4</td><td style="color:#ff6666;padding:6px">+1.4▼</td><td style="color:#66cc66;padding:6px">+1.6</td><td style="color:#d9d9d9;padding:6px">−0.01%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Turned up on velocity</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Rubber (OSE)</td><td style="color:#66cc66;padding:6px">▲</td><td style="color:#66cc66;font-weight:bold;padding:6px">+5.9</td><td style="color:#ff6666;padding:6px">+7.1▼</td><td style="color:#66cc66;padding:6px">+0.9</td><td style="color:#d9d9d9;padding:6px">+3.90%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Positive reversal printed</td></tr> <tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Cocoa</b></td><td style="color:#ff6666;padding:6px">▼</td><td style="color:#ff6666;font-weight:bold;padding:6px">+9.4</td><td style="color:#66cc66;padding:6px">+9.0▲</td><td style="color:#ff6666;padding:6px">−0.1</td><td style="color:#d9d9d9;padding:6px">−2.82%</td><td style="color:#d9d9d9;font-size:11px;padding:6px"><b>Rolled over</b> — exhaustion watch</td></tr> <tr style="background-color:#2e2318;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Soybean Oil</td><td style="color:#ff6666;padding:6px">▼</td><td style="color:#ff6666;font-weight:bold;padding:6px">−3.3</td><td style="color:#ff6666;padding:6px">+3.4▼</td><td style="color:#ff6666;padding:6px">−0.9</td><td style="color:#d9d9d9;padding:6px">+1.17%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Laggard; palm proxy still falling</td></tr> <tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Frozen OJ</td><td style="color:#ff6666;padding:6px">▼</td><td style="color:#ff6666;font-weight:bold;padding:6px">−2.4</td><td style="color:#ff6666;padding:6px">−1.0</td><td style="color:#ff6666;padding:6px">−0.1</td><td style="color:#d9d9d9;padding:6px">−3.02%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Laggard; no anticipatory bid</td></tr> <tr style="background-color:#182a20"><td style="color:#d9d9d9;padding:6px">Rubber (SHF)</td><td style="color:#66cc66;padding:6px">▲</td><td style="color:#ff6666;font-weight:bold;padding:6px">−2.3</td><td style="color:#ff6666;padding:6px">+4.7▼</td><td style="color:#66cc66;padding:6px">+0.3</td><td style="color:#d9d9d9;padding:6px">+1.01%</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Direction up but score reset low</td></tr> <p style="margin:10px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6">Q Score is a proprietary measure of Velocity (Direction and Momentum) on an oscillator from −10 to +10. ▲/▼ against the 30 Jun figure denotes the direction recorded on that date. The commodity feed carries no per-instrument signal-date field, so these are dateless velocity reads as at the 13 Aug close (only Rubber OSE printed a dated reversal flag). Duplicate exchange listings and a non-agricultural data row are excluded from the tradeable set shown.</p> <p style="margin:0 0 8px 0;color:#ffffff;font-family:Arial,sans-serif;font-size:14px;font-weight:bold">Sugar — The Signal We Said to Watch Has Fired</p> <p style="margin:0 0 16px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">In June we called white sugar “the most important read in the commodity universe for the El Niño thesis” — building velocity, pressing resistance, but still recorded Declining with no confirmation. That confirmation has now come. White sugar is Advancing at Q +4.7. More striking is <b>raw sugar (#11)</b>, which in June was Declining at Q −5.1 and is now Advancing at <b>Q +4.6</b> with the largest Q Change in the whole complex (+2.3). Sugar was the deepest-negative El Niño commodity in June; it is now among the strongest.</p> <p style="margin:0 0 8px 0;color:#ffffff;font-family:Arial,sans-serif;font-size:14px;font-weight:bold">Cocoa — From Peak Velocity to Rollover</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Cocoa was the exception in June — already Advancing at Q +9.0, at maximum positive velocity, on the back of the 2023–24 West African structural deficit rather than any 2026 pricing. We wrote that the system “would flag any deceleration quickly.” It now has: cocoa is recorded <b style="color:#ff6666">Declining at Q +9.4</b> with a negative Q Change. The score is still elevated, but velocity has turned — a High Score Negative Reversal pattern, a high-score name rolling over, and the one El Niño-tagged commodity where the read is now to the downside on momentum, not the upside.</p> <tr><td style="background-color:#1a1a1a;padding:24px 24px 4px 24px"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Global Food & Consumer Staples Equities · 315 Stocks · 13 Aug 2026 Close</p> </td><td style="color:#d9d9d9;padding:8px">Advancing<br /><span style="font-size:17px;font-weight:bold;color:#66cc66">186</span><br /><span style="font-size:9px;color:#8fa3bd">was 164</span></td> <td style="color:#d9d9d9;padding:8px">Declining<br /><span style="font-size:17px;font-weight:bold;color:#ff6666">130</span><br /><span style="font-size:9px;color:#8fa3bd">was 153</span></td> <td style="color:#d9d9d9;padding:8px">Deep Positive Reversals<br /><span style="font-size:17px;font-weight:bold;color:#ffffff">13</span><br /><span style="font-size:9px;color:#8fa3bd">Q −4 to −10</span></td> <td style="color:#d9d9d9;padding:8px">High Score Negative Reversals<br /><span style="font-size:17px;font-weight:bold;color:#ff9900">5</span><br /><span style="font-size:9px;color:#8fa3bd">Q +7 to +10</span></td> </tr><tr><td style="background-color:#1a1a1a;padding:18px 24px 0px 24px"> <p style="margin:0 0 8px 0;color:#ffffff;font-family:Arial,sans-serif;font-size:14px;font-weight:bold">The New Read: The Equities Now Have Company</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">In June the equity read stood alone — food and staples names were reversing quietly from oversold levels while the commodities they depend on kept falling. That divergence has closed. Breadth in the 315-stock universe has firmed to <b style="color:#66cc66">186 Advancing versus 130 Declining</b> (59% up, from 52% in June), and 13 confirmed and pending Deep Positive Reversals are printing from deeply negative Q territory. What matters most for the El Niño read is <i>which</i> names: the reversals now include the sugar and grain producers themselves.</p> <tbody><tr><td style="background-color:#16261c;padding:16px 18px;border-radius:3px;border-left:3px solid #66cc66"> <p style="margin:0 0 6px 0;color:#66cc66;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">The Cross-Asset Confirmation</p> <p style="margin:0;color:#d9e8dc;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Sugar futures are turning up — and so are the companies that produce sugar. <b>São Martinho</b> (Brazilian sugar & ethanol, Q −4.0) and <b>ASTARTA Holding</b> (Ukrainian sugar & agri, Q −4.1) are both printing Deep Positive Reversals from oversold levels, joined by <b>Otmuchów</b> (Polish confectioner/sugar, Q −4.6) and grain trader <b>Bunge Global</b> (Q −4.9, Advancing). When the commodity and the equity that produces it reverse together, the signal carries more weight than either alone — the tightest confirmation in the current data that the El Niño supply-cost cycle is beginning to register in prices, not just in a single futures contract.</p> <p style="margin:0;color:#66cc66;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Deep Positive Reversals — Food & Consumer Staples · 13 Signals</p> <p style="margin:6px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10px">Advancing from deeply negative Q (−4 to −10) with a confirmed positive reversal.</p> </td><td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Name</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Q</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Signal Date</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Segment / El Niño link</td> </tr><tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Walmart Inc.</td><td style="color:#d9d9d9;padding:6px">−8.3</td><td style="color:#d9d9d9;padding:6px">+3.72%</td><td style="color:#66cc66;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px">US grocery — own-brand food input exposure</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Wawel S.A.</td><td style="color:#d9d9d9;padding:6px">−8.0</td><td style="color:#d9d9d9;padding:6px">+1.13%</td><td style="color:#66cc66;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Polish chocolate — direct cocoa exposure</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Strauss Group Ltd.</td><td style="color:#d9d9d9;padding:6px">−7.7</td><td style="color:#d9d9d9;padding:6px">+2.16%</td><td style="color:#66cc66;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Coffee & food mfr — coffee cost exposure</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Nahdi Medical Company</td><td style="color:#d9d9d9;padding:6px">−7.3</td><td style="color:#d9d9d9;padding:6px">+1.10%</td><td style="color:#66cc66;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Staples retail (KSA)</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Albertsons Companies, Inc.</td><td style="color:#d9d9d9;padding:6px">−7.1</td><td style="color:#d9d9d9;padding:6px">0.00%</td><td style="color:#66cc66;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px">US grocery — food input pass-through</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Neto Malinda Trading Ltd.</td><td style="color:#d9d9d9;padding:6px">−7.0</td><td style="color:#d9d9d9;padding:6px">−4.85%</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">07 Aug · Confirmed</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Food distribution (Israel)</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Philip Morris CR a.s.</td><td style="color:#d9d9d9;padding:6px">−5.1</td><td style="color:#d9d9d9;padding:6px">−0.85%</td><td style="color:#66cc66;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Tobacco (agri input)</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Sligro Food Group N.V.</td><td style="color:#d9d9d9;padding:6px">−4.6</td><td style="color:#d9d9d9;padding:6px">−1.29%</td><td style="color:#66cc66;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Foodservice distribution (NL)</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Otmuchów (Z.P.C.)</b></td><td style="color:#d9d9d9;padding:6px">−4.6</td><td style="color:#d9d9d9;padding:6px">+0.41%</td><td style="color:#66cc66;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px"><b>Confectionery / sugar processor</b></td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Masan Group</td><td style="color:#d9d9d9;padding:6px">−4.4</td><td style="color:#d9d9d9;padding:6px">+0.30%</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">07 Aug · Confirmed</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Vietnam consumer / SE-Asia weather exposure</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>ASTARTA Holding N.V.</b></td><td style="color:#d9d9d9;padding:6px">−4.1</td><td style="color:#d9d9d9;padding:6px">−1.82%</td><td style="color:#66cc66;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px"><b>Ukrainian sugar & agriculture producer</b></td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">CJ Cheiljedang Corp.</td><td style="color:#d9d9d9;padding:6px">−4.0</td><td style="color:#d9d9d9;padding:6px">−10.76%</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">07 Aug · Confirmed</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Korean food processing (grain input)</td></tr> <tr style="background-color:#182a20"><td style="color:#d9d9d9;padding:6px"><b>São Martinho S.A.</b></td><td style="color:#d9d9d9;padding:6px">−4.0</td><td style="color:#d9d9d9;padding:6px">+0.07%</td><td style="color:#66cc66;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px"><b>Brazilian sugar & ethanol producer</b></td></tr> <p style="margin:10px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6">Signal Date = the date the reversal printed. 10 of these 13 reversals are dated this week (12 Aug) and Pending intra-week confirmation; the 07 Aug cohort is Confirmed at last week’s close. A Deep Positive Reversal is a velocity turn from an oversold base, not a price forecast.</p> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">◆ Why the Dates Matter — the Turn Is Happening This Week</p> <p style="margin:0;color:#e6e6e6;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">These reversals are not scattered across the summer — they are concentrated in the current week. Ten of the thirteen Deep Positive Reversals, and all five High Score Negative Reversals, carry a 12 August signal date and are still Pending intra-week confirmation. A burst of one-directional turns landing together in a single week is the system’s signature of a momentum shift in progress, not one already spent. It also means these are the freshest possible reads: the move is being caught as it forms, not after the fact. The dating says the same thing the scores do — this is an early-stage move, still forming.</p> <p style="margin:0;color:#ff9900;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">High Score Negative Reversals — Food & Consumer Staples · 5 Signals</p> <p style="margin:0 0 10px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6">Five names are rolling over from elevated Q (+7 to +10) — the exhaustion cohort. Each has printed a High Score Negative Reversal — every one dated 12 August and Pending, the same current-week cluster as the positive reversals above, only pointing the other way. These carry the double read the June note described: velocity already peaking, into a period where unhedged input costs in sugar, grains and coffee are rising rather than falling. Hormel (protein, feed-grain sensitive) and Coca-Cola (sugar and packaging) are the two worth monitoring most closely against the commodity turn above.</p> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Segment</td> <tr style="background-color:#2e2318;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Bid Corporation Limited</td><td style="color:#ff9900;font-weight:bold;padding:6px">+8.1</td><td style="color:#d9d9d9;padding:6px">−0.46%</td><td style="color:#ff9900;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Food distribution (ZA)</td></tr> <tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Anadolu Efes</td><td style="color:#ff9900;font-weight:bold;padding:6px">+7.7</td><td style="color:#d9d9d9;padding:6px">−9.55%</td><td style="color:#ff9900;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Brewer (sugar/grain input)</td></tr> <tr style="background-color:#2e2318;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Woolworths Group Limited</td><td style="color:#ff9900;font-weight:bold;padding:6px">+7.3</td><td style="color:#d9d9d9;padding:6px">−1.39%</td><td style="color:#ff9900;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Grocery (AU)</td></tr> <tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Hormel Foods Corporation</b></td><td style="color:#ff9900;font-weight:bold;padding:6px">+7.0</td><td style="color:#d9d9d9;padding:6px">−2.52%</td><td style="color:#ff9900;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px"><b>Protein — feed-grain sensitive</b></td></tr> <tr style="background-color:#2e2318"><td style="color:#d9d9d9;padding:6px"><b>The Coca-Cola Company</b></td><td style="color:#ff9900;font-weight:bold;padding:6px">+7.0</td><td style="color:#d9d9d9;padding:6px">−0.39%</td><td style="color:#ff9900;font-weight:bold;padding:6px;white-space:nowrap">12 Aug · Pending</td><td style="color:#d9d9d9;font-size:11px;padding:6px"><b>Beverage — sugar & packaging</b></td></tr> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">US Cross-Read · The June Watch-List, Updated</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">The specific US names we told readers to watch in June have moved as the sequence suggested. <b>Ingredion</b> — the deepest name in the June universe at Q −9.9 with no reversal — has recovered to <b style="color:#66cc66">Q −2.7, Advancing</b> with a positive reversal: the deep-oversold turn has begun. <b>Tyson Foods</b>, which in June we flagged at peak selling pressure (−5.9, accelerating negative), has stopped falling — direction is now Positive with a positive reversal building at Q −6.4. The June turnaround names remain in play: <b>BellRing Brands</b> is now positive (Q +1.1), <b>Freshpet</b> has recovered to Q +2.9, and <b>Marzetti</b> is a live Deep Positive Reversal at Q −5.4.</p> <p style="margin:0 0 14px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">The next place to watch, per the June playbook, is agri-inputs — where demand accelerates when farmers face stressed growing conditions. The velocity there is now turning positive: <b>Mosaic</b> (Q +1.7), <b>CF Industries</b> (Q +2.4) and <b>Nutrien</b> (Q −0.4) are all Advancing with positive reversals; <b>Corteva</b> (crop protection, Q +2.9) is the laggard still Declining. The one deep-negative outlier is <b>FMC Corporation</b> at Q −8.9 Declining — crop-chemicals selling pressure not yet exhausted, and the input name to watch for the next reversal.</p> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Reversal</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Last Reversal Date</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Role</td> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Ingredion Incorporated</td><td style="color:#d9d9d9;padding:6px">−2.7</td><td style="color:#66cc66;padding:6px">Positive</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">06 Jul 2026</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Starches/sweeteners — deep-oversold turn</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Tyson Foods, Inc.</td><td style="color:#d9d9d9;padding:6px">−6.4</td><td style="color:#66cc66;padding:6px">Positive</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">27 Jul 2026</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Protein — was peak selling pressure</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">The Marzetti Company</td><td style="color:#d9d9d9;padding:6px">−5.4</td><td style="color:#66cc66;padding:6px">Positive</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">22 Jun 2026</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Dressings/oils — live Deep Positive Reversal</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">BellRing Brands, Inc.</td><td style="color:#d9d9d9;padding:6px">+1.1</td><td style="color:#66cc66;padding:6px">Positive</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">22 Jun 2026</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Nutrition — June name, now positive</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Freshpet, Inc.</td><td style="color:#d9d9d9;padding:6px">+2.9</td><td style="color:#66cc66;padding:6px">Positive</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">29 Jun 2026</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Pet food — grain input, recovered</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">The Mosaic Company</td><td style="color:#d9d9d9;padding:6px">+1.7</td><td style="color:#66cc66;padding:6px">Positive</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">01 Jun 2026</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Fertilizer (agri-input)</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">CF Industries Holdings</td><td style="color:#d9d9d9;padding:6px">+2.4</td><td style="color:#66cc66;padding:6px">Positive</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">13 Jul 2026</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Nitrogen fertilizer (agri-input)</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Nutrien Ltd.</td><td style="color:#d9d9d9;padding:6px">−0.4</td><td style="color:#66cc66;padding:6px">Positive</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">13 Jul 2026</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Fertilizer (agri-input)</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px">Corteva, Inc.</td><td style="color:#d9d9d9;padding:6px">+2.9</td><td style="color:#ff6666;padding:6px">Negative</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">03 Aug 2026</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Crop protection — laggard, Declining</td></tr> <tr style="background-color:#2e1a1a"><td style="color:#d9d9d9;padding:6px"><b>FMC Corporation</b></td><td style="color:#d9d9d9;padding:6px">−8.9</td><td style="color:#ff6666;padding:6px">Negative</td><td style="color:#d9d9d9;padding:6px;white-space:nowrap">11 May 2026</td><td style="color:#d9d9d9;font-size:11px;padding:6px">Crop chemicals — deep-negative outlier</td></tr> <p style="margin:10px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6">US feed reports <i>Last Reversal Date</i> — the date of the most recent reversal, which for an established trend can be several weeks old. This is a different field from the <i>Signal Date</i> in the global staples tables above (which dates the current in-progress reversal); the two should not be read as the same measure.</p> </tbody><tbody><tr><td style="background-color:#16261c;border-left:3px solid #66cc66;padding:14px 16px"> <p style="margin:0 0 6px 0;color:#66cc66;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">▲ What Would Confirm the Full Repricing</p> <p style="margin:0;color:#d9e8dc;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6">A positive reversal appearing in <b>soybean oil</b> (the palm proxy) and <b>frozen orange juice</b> — the two laggards still Declining — would close the last gap in the complex. On the grains, watch for the Q Scores on corn and soy to build above +5 from today’s low-single-digit readings; that would move the read from “turning” to “trending.” A Deep Positive Reversal firming in <b>FMC</b> would confirm the agri-input leg.</p> </td></tr><tr><td style="height:10px"></td></tr> <tr><td style="background-color:#241d10;border-left:3px solid #ff9900;padding:14px 16px"> <p style="margin:0 0 6px 0;color:#ff9900;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">▼ What Would Confirm Cost-Pressure Transmission</p> <p style="margin:0;color:#e8dcc4;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6">More High Score Negative Reversals in unhedged food manufacturers — sugar, vegetable-oil and grain-heavy names — would signal input costs registering in equity velocity before earnings confirm it. <b>Hormel</b>, <b>Coca-Cola</b> and the exhaustion cohort above are the early read. And a downward reversal firming in <b>cocoa</b> would mark the end of the 2023–24 structural trade.</p> </td></tr><tr><td style="background-color:#202020;padding:18px 24px;border-left:3px solid #DEDC04;margin-top:20px"> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">Closing Signal Summary</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Pulling it together: in June the data showed a commodity complex selling off with no anticipatory positioning. Six weeks on, the velocity data shows the first leg of a repricing underway — led by sugar and coffee, joined by grains, and corroborated by the sugar-producer equities reversing in tandem. The strongest current reads sit with the beaten-up names turning up from oversold — the Deep Positive Reversals in sugar and grain producers — set against the elevated, unhedged manufacturers now rolling over. The reversals are concentrated in the current week and are still Pending confirmation — the freshest read the system can give. Each instrument’s own Weekly Mean band is the level the model itself will watch next; a close back below it would negate the turn.</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">A few honest caveats are only fair. Scores remain low across the grains, and two commodities — soybean oil and frozen orange juice — have not moved at all: this is early in the trend, not late. An early-stage reversal is a read, not a certainty, and whether these turns hold will be seen in the coming weekly closes. Cocoa’s rollover is a reminder that beaten-up or peaked readings can persist before they resolve. The window described in June is closing, not shut.</p> <tbody><tr><td style="background-color:#202020;padding:12px 14px;border-left:3px solid #333333"> <p style="margin:0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:11px;line-height:1.6"><b style="color:#aaaaaa">Data & method.</b> The Q Score is a proprietary measure of Velocity (Direction and Momentum), −10 (deeply beaten down) to +10 (stretched). <b>Advancing/Declining</b> is the confirmed direction on that scale. A <b>Deep Positive Reversal</b> is a confirmed positive reversal on a Q Score of −4 to −10; a <b>High Score Negative Reversal</b> is a confirmed downward turn from a Q Score of +7 to +10. Signal Date (global staples tables) dates the current in-progress reversal; Last Reversal Date (US cross-read table) dates the most recent reversal on record and can be several weeks old — the two fields are not equivalent. The Weekly Mean band referenced in the closing summary is the model’s own reference range for each instrument, not a personalised trading instruction. All figures are Quantmatix data as at the 13 August 2026 close.</p> <p style="margin:0;color:#e6e6e6;font-family:Arial,sans-serif;font-size:13px;line-height:1.6"><b style="color:#DEDC04">The full El Niño thematic extract is available to subscribers now.</b> All 15 tracked agricultural commodities and the full 315-stock food & staples universe, scored nightly, across our full universe of 10,000 markets. Subscribe at <b style="color:#DEDC04"><a href="http://quantmatix.com" style="color:#DEDC04;text-decoration:none">quantmatix.com</a></b>, or get in touch directly: <b style="color:#DEDC04"><a href="mailto:Liam.Boggan@quantmatix.com" style="color:#DEDC04;text-decoration:none">Liam.Boggan@quantmatix.com</a></b> · Enterprise & institutional: <b style="color:#DEDC04"><a href="mailto:Colm.Gaughran@quantmatix.com" style="color:#DEDC04;text-decoration:none">Colm.Gaughran@quantmatix.com</a></b>.</p> </td></tr><tr><td style="background-color:#141414;padding:16px 24px;border-top:1px solid #2a2a2a"> <p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"> <strong style="color:#aaaaaa">Important Notice:</strong> This report is produced by Quantmatix and is intended solely for institutional and professional investors. It is provided for informational purposes only and does not constitute investment advice, a personal recommendation, or an offer or solicitation to buy or sell any financial instrument. References to individual instruments describe the output of our models — including Q Scores, Advancing/Declining direction, Deep Positive Reversals and High Score Negative Reversals — and are identical for all recipients; they do not take into account any recipient’s individual investment objectives, financial situation or needs. A reversal signal is a velocity turn from an oversold or overbought base and does not represent a directional recommendation. El Niño probability, timing and historical lag figures are drawn from public meteorological and agricultural sources as at the date of writing and are estimates, not guarantees. All Q Scores, percentage moves and reversal flags reflect the most recent scoring run and are subject to change. Past signal performance is not indicative of future results. Recipients should conduct independent due diligence and, where appropriate, seek advice from an authorised financial adviser before making any investment decision. Quantmatix is not authorised to provide investment advice under MiFID II. Methodology available on request. <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/00a9.png?v=61548701430" class="not-responsive emoji emoji-android emoji--copyright" style="height:23px;width:auto;vertical-align:middle" title="©" alt="©" /> 2026 Quantmatix Limited. All rights reserved. </p> </td></tr><tr><td style="background-color:#152030;padding:16px 24px;text-align:center"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold">Quantmatix · Global Thematic Research — El Niño 2026 · 13 August 2026</p></td></tr></tbody></td></tr></tbody></td></tr></table></td></tr></tbody></td></tr></tbody></table></td></tr></tbody></td></tr></tbody></table></td></tr></tbody></table>

Quantmatix — Gold Miners +20% in Three Weeks as the July Deep Positive Reversal Cluster Confirms and Broadens <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <table style="max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:22px 24px 18px 24px;border-bottom:3px solid #DEDC04" class="rz-html-editor-cell-selected"> <p style="margin:0 0 6px 0;color:#8fa3bd;font-family:Arial,sans-serif;font-size:9.5px;font-weight:bold;letter-spacing:2px;text-transform:uppercase">Quantmatix · Global Miners & Metals · Institutional Research</p> <p style="margin:0 0 8px 0;color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1.35">Gold Miners +20% in Three Weeks as the July Deep Positive Reversal Cluster Confirms and Broadens</p> <p style="margin:0;padding-top:8px;border-top:1px solid #2a3a4d;color:#8fa3bd;font-family:Arial,sans-serif;font-size:10px"><br /></p> </td></tr> <tr><td style="background-color:#202020;padding:18px 24px;border-left:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">The Setup</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Three weeks ago the Q Score map read the miners complex at the floor and turning: gold pinned between −9.4 and −9.7 across the currencies scored, the daily clock leading the weekly, and a forming cluster of Deep Positive Reversals in the gold and silver producers. On the current file, every one of the sixteen names carried in that read is <b style="color:#66cc66">higher</b> — a full-list average of <b style="color:#66cc66">+15.7%</b> in three weeks (median +16.1%), with the nine gold miners in the group averaging <b style="color:#66cc66">+20%</b> (median +19%).</p> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">The Signal</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Breadth has moved from 44% to <b style="color:#66cc66">96% Advancing</b>, and negative reversals in the complex have cleared to zero. <b style="color:#66cc66">Nine confirmed Deep Positive Reversals</b> remain live, and the weekly reversal that was still pending in July is now confirmed on spot gold and spot silver themselves. Only 16% of miners carry a positive Q Score — on the model this remains an early-stage advance from a deep, beaten-up base, not a stretched one.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:20px 24px 4px 24px"> <table style="border-collapse:collapse;font-family:Arial,sans-serif;text-align:center"> <tbody><tr style="background-color:#152030"> <td style="color:#d9d9d9;padding:10px">Full-List Avg. Move<br /><span style="font-size:18px;font-weight:bold;color:#66cc66">+15.7%</span><br /><span style="font-size:9px;color:#8fa3bd">24 Jul → 12 Aug</span></td> <td style="color:#d9d9d9;padding:10px">Weekly Advancing<br /><span style="font-size:15px;font-weight:bold;color:#ffffff">44% → 96%</span></td> <td style="color:#d9d9d9;padding:10px">Negative Reversals<br /><span style="font-size:18px;font-weight:bold;color:#ffffff">5 → 0</span></td> <td style="color:#d9d9d9;padding:10px">Deep Positive Reversals Live<br /><span style="font-size:18px;font-weight:bold;color:#66cc66">9</span></td> </tr> </tbody></table> </td></tr><tr><td style="background-color:#1a1a1a;padding:22px 24px 4px 24px"> <p style="margin:0;color:#66cc66;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">The Scorecard — Every Name Higher · Gold Miners +20% (Median +19%) · Full List +15.7%</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:10px 24px 0px 24px"> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12px;line-height:1.6">Performance is measured on Quantmatix’s own files: the single-name close in the 25 July note (week ending 24 July) against the close in the 12 August miners file. No name is excluded; every read is shown.</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:12px"> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Name</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Metal</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Signal (25 Jul)</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Close 24 Jul</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Close 12 Aug</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Move</td> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>B2Gold</b> BTG</td><td style="color:#d9d9d9;padding:6px">Gold</td> <td style="color:#d9d9d9;padding:6px">Watch list</td> <td style="color:#d9d9d9;padding:6px">$5.44</td><td style="color:#d9d9d9;padding:6px">$7.05</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+29.6%</td> </tr><tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>K92 Mining</b> KNT</td><td style="color:#d9d9d9;padding:6px">Gold-copper</td> <td style="color:#d9d9d9;padding:6px">Deep Positive Reversal · weekly</td> <td style="color:#d9d9d9;padding:6px">$22.41</td><td style="color:#d9d9d9;padding:6px">$28.57</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+27.5%</td> <td style="color:#d9d9d9;padding:6px"><b>Equinox Gold</b> EQX</td><td style="color:#d9d9d9;padding:6px">Gold</td> <td style="color:#d9d9d9;padding:6px">Deep Positive Reversal · daily</td> <td style="color:#d9d9d9;padding:6px">$13.08</td><td style="color:#d9d9d9;padding:6px">$16.22</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+24.0%</td> <td style="color:#d9d9d9;padding:6px"><b>Agnico Eagle</b> AEM</td><td style="color:#d9d9d9;padding:6px">Gold (large-cap)</td> <td style="color:#d9d9d9;padding:6px">$204.81</td><td style="color:#d9d9d9;padding:6px">$253.20</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+23.6%</td> <td style="color:#d9d9d9;padding:6px"><b>OceanaGold</b> OGC</td><td style="color:#d9d9d9;padding:6px">Gold</td> <td style="color:#d9d9d9;padding:6px">$33.57</td><td style="color:#d9d9d9;padding:6px">$40.01</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+19.2%</td> <td style="color:#d9d9d9;padding:6px"><b>Gold Fields</b> GFI</td><td style="color:#d9d9d9;padding:6px">Gold</td> <td style="color:#d9d9d9;padding:6px">$548.93</td><td style="color:#d9d9d9;padding:6px">$653.09</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+19.0%</td> <td style="color:#d9d9d9;padding:6px"><b>Pan American Silver</b> PAAS</td><td style="color:#d9d9d9;padding:6px">Silver</td> <td style="color:#d9d9d9;padding:6px">$62.09</td><td style="color:#d9d9d9;padding:6px">$72.19</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+16.3%</td> <td style="color:#d9d9d9;padding:6px"><span style="color:#C8A84B;font-weight:bold">★</span> <b>Royal Gold</b> RGLD</td><td style="color:#d9d9d9;padding:6px">Gold (royalty)</td> <td style="color:#d9d9d9;padding:6px">Q Signal</td> <td style="color:#d9d9d9;padding:6px">$200.96</td><td style="color:#d9d9d9;padding:6px">$233.51</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+16.2%</td> <td style="color:#d9d9d9;padding:6px"><b>Endeavour Mining</b> EDV</td><td style="color:#d9d9d9;padding:6px">Gold</td> <td style="color:#d9d9d9;padding:6px">$36.07</td><td style="color:#d9d9d9;padding:6px">$41.83</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+16.0%</td> <td style="color:#d9d9d9;padding:6px"><b>Kinross Gold</b> KGC</td><td style="color:#d9d9d9;padding:6px">Gold</td> <td style="color:#d9d9d9;padding:6px">$33.66</td><td style="color:#d9d9d9;padding:6px">$37.93</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+12.7%</td> <td style="color:#d9d9d9;padding:6px"><b>Sprott Uranium Miners ETF</b></td><td style="color:#d9d9d9;padding:6px">Uranium</td> <td style="color:#d9d9d9;padding:6px">$49.43</td><td style="color:#d9d9d9;padding:6px">$55.37</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+12.0%</td> <td style="color:#d9d9d9;padding:6px"><b>Alamos Gold</b> AGI</td><td style="color:#d9d9d9;padding:6px">Gold</td> <td style="color:#d9d9d9;padding:6px">$41.73</td><td style="color:#d9d9d9;padding:6px">$46.61</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+11.7%</td> <td style="color:#d9d9d9;padding:6px"><b>Ma’aden</b></td><td style="color:#d9d9d9;padding:6px">Diversified</td> <td style="color:#d9d9d9;padding:6px">$58.45</td><td style="color:#d9d9d9;padding:6px">$64.15</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+9.8%</td> <td style="color:#d9d9d9;padding:6px"><b>Anglo American</b> AAL</td><td style="color:#d9d9d9;padding:6px">Diversified</td> <td style="color:#d9d9d9;padding:6px">$37.21</td><td style="color:#d9d9d9;padding:6px">$40.21</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+8.1%</td> <td style="color:#d9d9d9;padding:6px"><b>Central Asia Metals</b> CAML</td><td style="color:#d9d9d9;padding:6px">Copper</td> <td style="color:#d9d9d9;padding:6px">$1.48</td><td style="color:#d9d9d9;padding:6px">$1.53</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+3.4%</td> </tr><tr style="background-color:#16261c"> <td style="color:#d9d9d9;padding:6px"><b>Zangge Mining</b></td><td style="color:#d9d9d9;padding:6px">Lithium / potash</td> <td style="color:#d9d9d9;padding:6px">$79.73</td><td style="color:#d9d9d9;padding:6px">$81.15</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+1.8%</td> </tr><tr><td style="background-color:#1a1a1a;padding:12px 24px 4px 24px"> <table style="border-collapse:collapse"> <tbody><tr><td style="background-color:#202020;padding:12px 14px;border-left:3px solid #333333"> <p style="margin:0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:11px;line-height:1.65">The gold and silver names led — the nine gold miners on the list averaging <b style="color:#66cc66">+20%</b> (B2Gold +29.6%, K92 +27.5%, Equinox +24.0%, Agnico +23.6%), concentrated in the metals the Deep Positive Reversal cluster flagged in July. The “next to turn” watch list — deeply negative names Advancing on the daily but not yet carrying a reversal flag — averaged <b style="color:#66cc66">+18.3%</b>, ahead of the names that had already fired their reversal (+13.8%) at the time of the July read. The two lightest movers, Central Asia Metals (+3.4%) and Zangge Mining (+1.8%), were the copper and lithium reversals — the base-metal edge of the cluster, where the turn was firmer but shallower, as characterised in the July note.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Why the Floor Held — the Structural Bid Behind the Move</p> <p style="margin:0 0 10px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">The forces behind the spring run have not gone anywhere; the summer was a pause in a structural bid, and the model read the miners at the point of maximum discount to it.</p> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6"><b style="color:#ffffff">Central-bank accumulation.</b> Official-sector gold buying has remained the persistent structural bid under the metal through the cooling, keeping the floor firm even as price corrected.</p> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6"><b style="color:#ffffff">Easing real yields and a softer dollar</b> lowered the opportunity cost of holding non-yielding metal — the classic tailwind for gold, and by extension the geared producers.</p> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6"><b style="color:#ffffff">A structural silver deficit.</b> The silver market has run short of physical metal for years; on the model, silver showed the sharpest breadth flip of any metal at the call (3→10 Advancing) and its producers followed.</p> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6"><b style="color:#ffffff">Electrification, grid and nuclear demand</b> into tight supply underpins the copper, nickel and uranium leg — the reason a bid running from bullion through base metals to uranium reads as broad appetite for metals, not a narrow dash for the haven.</p> <p style="margin:0 0 4px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12.5px;line-height:1.6"><b style="color:#ffffff">The overshoot that made the setup.</b> Gold ran to roughly $4,700 in the spring and silver rose more than 140% across the year before both cooled; the geared miners fell harder than the metal, opening the deep-negative discount the Q Score flagged at the floor.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Where the Complex Sits Now — 96% Advancing, Surge Intact but Not Yet Mature</p> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12px;line-height:1.6">Read on the current file: <b style="color:#ffffff">Advancing</b> = the Q Score is accelerating; <b style="color:#ffffff">Positive</b> = the Q Score is above zero. The complex is accelerating almost everywhere while its score base is still negative — the beaten-up-but-accelerating signature, led by gold and silver, with lithium the one leg yet to turn.</p> </td><td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Metal Group</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Names</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Advancing %</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Positive %</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Avg Q</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Live DPRs</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Positioning</td> <td style="color:#d9d9d9;padding:6px"><b>Gold</b> — the engine</td> <td style="color:#d9d9d9;padding:6px">26</td><td style="color:#d9d9d9;padding:6px">100%</td><td style="color:#d9d9d9;padding:6px">23%</td> <td style="color:#d9d9d9;padding:6px">−2.15</td><td style="color:#d9d9d9;padding:6px">4</td> <td style="padding:6px"><span style="background-color:#C8A84B;color:#1a1a1a;font-size:8.5px;font-weight:bold;letter-spacing:0.4px;padding:2px 7px;border-radius:2px">MAX OVERWEIGHT</span></td> </tr><tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>Silver</b> — sharpest flip</td> <td style="color:#d9d9d9;padding:6px">7</td><td style="color:#d9d9d9;padding:6px">100%</td><td style="color:#d9d9d9;padding:6px">0%</td> <td style="color:#d9d9d9;padding:6px">−2.46</td><td style="color:#d9d9d9;padding:6px">spot ▲</td> <td style="color:#d9d9d9;padding:6px">Copper — firmest base</td> <td style="color:#d9d9d9;padding:6px">10</td><td style="color:#d9d9d9;padding:6px">100%</td><td style="color:#d9d9d9;padding:6px">20%</td> <td style="color:#d9d9d9;padding:6px">−1.17</td><td style="color:#d9d9d9;padding:6px">—</td> <td style="padding:6px"><span style="background-color:#3d7ab8;color:#ffffff;font-size:8.5px;font-weight:bold;letter-spacing:0.4px;padding:2px 7px;border-radius:2px">OVERWEIGHT</span></td> <td style="color:#d9d9d9;padding:6px">Uranium — miners + metal</td> <td style="color:#d9d9d9;padding:6px">3</td><td style="color:#d9d9d9;padding:6px">100%</td><td style="color:#d9d9d9;padding:6px">0%</td> <td style="color:#d9d9d9;padding:6px">−4.07</td><td style="color:#d9d9d9;padding:6px">2</td> <td style="color:#d9d9d9;padding:6px">Diversified & base — Glencore, Ma’aden, PGM</td> <td style="color:#d9d9d9;padding:6px">11</td><td style="color:#d9d9d9;padding:6px">100%</td><td style="color:#d9d9d9;padding:6px">0%</td> <td style="color:#d9d9d9;padding:6px">−2.90</td><td style="color:#d9d9d9;padding:6px">3</td> <td style="color:#d9d9d9;padding:6px">Steel / iron ore — most mature</td> <td style="color:#d9d9d9;padding:6px">5</td><td style="color:#d9d9d9;padding:6px">80%</td><td style="color:#d9d9d9;padding:6px">40%</td> <td style="color:#66cc66;padding:6px">+0.86</td><td style="color:#d9d9d9;padding:6px">—</td> <td style="padding:6px"><span style="background-color:#2e9e8f;color:#ffffff;font-size:8.5px;font-weight:bold;letter-spacing:0.4px;padding:2px 7px;border-radius:2px">NEUTRAL POSITIVE</span></td> </tr><tr style="background-color:#2e2318"> <td style="color:#d9d9d9;padding:6px"><b>Lithium</b> — the laggard</td> <td style="color:#d9d9d9;padding:6px">5</td><td style="color:#d9d9d9;padding:6px">60%</td><td style="color:#d9d9d9;padding:6px">0%</td> <td style="color:#d9d9d9;padding:6px">−6.90</td><td style="color:#d9d9d9;padding:6px">—</td> <td style="padding:6px"><span style="background-color:#ff9900;color:#1a1a1a;font-size:8.5px;font-weight:bold;letter-spacing:0.4px;padding:2px 7px;border-radius:2px">NEUTRAL NEGATIVE</span></td> <p style="margin:0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:11px;line-height:1.65"><b style="color:#aaaaaa">The weekly has confirmed.</b> In July the turn was on the fast clock only — the weekly trend still had to climb off its lows. It now has: spot <b style="color:#ffffff">gold</b> (Q −6.4), spot <b style="color:#ffffff">silver</b> (Q −5.6), and the <b style="color:#ffffff">gold-miner</b> and <b style="color:#ffffff">silver-miner</b> ETFs all carry a confirmed positive reversal while still Advancing from deeply negative scores. <b style="color:#ffffff">Palladium</b>, the lone negative at the call, has flipped from Declining to Advancing — the last holdout joining. What was a first-days daily signal in July is now a broad, weekly-confirmed advance. That it is broad yet still majority-negative on score is the point: on the model the move has confirmed and broadened internally — early names such as B2Gold (now Q −2.4), K92 (−1.6) and Gold Fields (−3.7) have moved out of the deep-discount band as newer, deeper names rotated in — without yet becoming stretched.</p> <p style="margin:0;color:#66cc66;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Highest Expected-Value Signal Reads Now — Nine Live Deep Positive Reversals, the Cluster Rotated Deeper</p> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12px;line-height:1.6">This extract carries Q Score, direction and reversal flags but <b style="color:#ffffff">no Top Quantmatix or TEVO fields and no target prices</b>, so reads are ranked on signal strength and score depth, not expected value or hit rate. Nine confirmed Deep Positive Reversals remain live — the cluster has rotated deeper and wider since July, now reaching platinum, uranium and diversified base metals alongside the gold core.</p> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">#</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Signal</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Q Score</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Latest Close Δ</td> <td style="color:#d9d9d9;padding:6px">1</td><td style="color:#d9d9d9;padding:6px"><b>Alamos Gold</b> AGI</td><td style="color:#d9d9d9;padding:6px">Gold</td> <td style="color:#66cc66;padding:6px">Deep Positive Reversal</td><td style="color:#d9d9d9;padding:6px">−8.0</td><td style="color:#66cc66;padding:6px">+0.8%</td> <td style="color:#d9d9d9;padding:6px">2</td><td style="color:#d9d9d9;padding:6px"><b>Glencore</b> GLEN</td><td style="color:#d9d9d9;padding:6px">Diversified / base</td> <td style="color:#66cc66;padding:6px">Deep Positive Reversal</td><td style="color:#d9d9d9;padding:6px">−7.4</td><td style="color:#66cc66;padding:6px">+3.1%</td> <td style="color:#d9d9d9;padding:6px">3</td><td style="color:#d9d9d9;padding:6px"><b>Northam Platinum</b></td><td style="color:#d9d9d9;padding:6px">PGM</td> <td style="color:#66cc66;padding:6px">Deep Positive Reversal</td><td style="color:#d9d9d9;padding:6px">−6.9</td><td style="color:#ff6666;padding:6px">−0.6%</td> <td style="color:#d9d9d9;padding:6px">4</td><td style="color:#d9d9d9;padding:6px"><b>Equinox Gold</b> EQX</td><td style="color:#d9d9d9;padding:6px">Gold</td> <td style="color:#66cc66;padding:6px">Deep Positive Reversal</td><td style="color:#d9d9d9;padding:6px">−6.6</td><td style="color:#66cc66;padding:6px">+0.4%</td> <td style="color:#d9d9d9;padding:6px">5</td><td style="color:#d9d9d9;padding:6px"><b>Uranium Energy</b> UEC</td><td style="color:#d9d9d9;padding:6px">Uranium</td> <td style="color:#66cc66;padding:6px">Deep Positive Reversal</td><td style="color:#d9d9d9;padding:6px">−6.1</td><td style="color:#66cc66;padding:6px">+1.8%</td> <td style="color:#d9d9d9;padding:6px">6</td><td style="color:#d9d9d9;padding:6px"><b>Endeavour Mining</b> EDV</td><td style="color:#d9d9d9;padding:6px">Gold</td> <td style="color:#66cc66;padding:6px">Deep Positive Reversal</td><td style="color:#d9d9d9;padding:6px">−6.0</td><td style="color:#66cc66;padding:6px">+3.4%</td> <td style="color:#d9d9d9;padding:6px">7</td><td style="color:#d9d9d9;padding:6px"><b>Pason Systems</b></td><td style="color:#d9d9d9;padding:6px">Energy / uranium svc</td> <td style="color:#66cc66;padding:6px">Deep Positive Reversal</td><td style="color:#d9d9d9;padding:6px">−5.1</td><td style="color:#66cc66;padding:6px">+3.2%</td> <td style="color:#d9d9d9;padding:6px">8</td><td style="color:#d9d9d9;padding:6px"><b>Ma’aden</b></td><td style="color:#d9d9d9;padding:6px">Diversified</td> <td style="color:#66cc66;padding:6px">Deep Positive Reversal</td><td style="color:#d9d9d9;padding:6px">−4.4</td><td style="color:#66cc66;padding:6px">+6.1%</td> </tr><tr style="background-color:#182a20"> <td style="color:#d9d9d9;padding:6px">9</td><td style="color:#d9d9d9;padding:6px"><b>Kinross Gold</b> KGC</td><td style="color:#d9d9d9;padding:6px">Gold</td> <td style="color:#66cc66;padding:6px">Deep Positive Reversal</td><td style="color:#d9d9d9;padding:6px">−4.1</td><td style="color:#ff6666;padding:6px">−1.5%</td> <p style="margin:0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:11px;line-height:1.65"><b style="color:#aaaaaa">Next to turn.</b> The deepest scores still Advancing but without a reversal flag yet remain the watch list — the lithium and select large-cap gold names: <b style="color:#ffffff">Tianqi Lithium</b> (Q −9.1, Advancing), <b style="color:#ffffff">Mineral Resources</b> (−5.1), <b style="color:#ffffff">Royal Gold</b> (−5.7) and <b style="color:#ffffff">OceanaGold</b> (−5.0). On the July precedent, this deeply-discounted, already-Advancing cohort is where the next Deep Positive Reversals are most likely to fire if daily strength holds.</p> </tr><tr><td style="background-color:#1a1a1a;padding:18px 24px 4px 24px"> <tbody><tr><td style="background-color:#202020;padding:16px 18px;border:1px solid #333333;border-left:3px solid #DEDC04"> <p style="margin:0 0 8px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase">Summary — Confirmed and Broadened, Not Yet Spent</p> <p style="margin:0 0 10px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">On the model, the July signal has confirmed and broadened, and is not yet spent. Breadth has moved from 44% to 96% Advancing and negative reversals have cleared to zero, yet only 16% of miners carry a positive Q Score — the signature of an advance that has confirmed and broadened but not matured. Gold and silver remain the engine; the base-metal, PGM and uranium legs are the broadening; lithium is the one leg yet to turn. The Deep Positive Reversal cluster remains concentrated in gold and silver.</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ffffff">Risk context.</b> The reads rest on velocity Advancing from a negative base. On the model, spot gold’s weekly mean sits roughly 5% below the current price; a weekly close back below that mean would neutralise the signal before the score turns positive. The read to watch is the complex flipping majority-positive on score — the point at which an early-stage advance on the model would mature into a confirmed trend.</p> <p style="margin:0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:11px;line-height:1.6"><b style="color:#aaaaaa">Data & method.</b> The Q Score is a proprietary measure of Velocity (Direction and Momentum), an oscillator from −10 (deeply beaten down) to +10 (stretched), computed nightly across Quantmatix’s universe. Advancing / Declining denotes the Q Score accelerating / decelerating; a negative score that is Advancing is strengthening from a beaten-up base. A <b style="color:#aaaaaa">Deep Positive Reversal</b> is a confirmed positive reversal on a Q Score of −4 to −10; a <b style="color:#aaaaaa">Q Signal</b> is the model’s earliest-stage warning of a potential reversal — a ceiling, not a directional recommendation. Signal reads rank on the strict Quantmatix hierarchy (Top Quantmatix → TEVO → Delta Reversals); this extract carries no Top Quantmatix, TEVO or target-price fields, so reads rank on signal strength and score depth, not expected value or hit rate. All figures are Quantmatix model data: benchmark closes are from the 25 July note (week ending 24 July); current reads and closes are the file for the week ending 12 August 2026. Macro drivers are background context drawn from observable metal prices and public market data, not independently verified, and are not the basis of any individual signal.</p> <tbody><tr><td style="background-color:#152030;padding:16px 18px;border-radius:3px;border-left:3px solid #DEDC04"> <p style="margin:0;color:#e6e6e6;font-family:Arial,sans-serif;font-size:13px;line-height:1.6"><b style="color:#DEDC04">The full miners & metals extract is available to subscribers now.</b> All names, scored nightly on weekly and daily horizons, across our full universe of 10,000 markets. Subscribe at <b style="color:#DEDC04"><a href="http://quantmatix.com" style="color:#DEDC04;text-decoration:none">quantmatix.com</a></b>, or get in touch directly: <b style="color:#DEDC04"><a href="mailto:Liam.Boggan@quantmatix.com" style="color:#DEDC04;text-decoration:none">Liam.Boggan@quantmatix.com</a></b> · Enterprise & institutional: <b style="color:#DEDC04"><a href="mailto:Colm.Gaughran@quantmatix.com" style="color:#DEDC04;text-decoration:none">Colm.Gaughran@quantmatix.com</a></b>.</p> </td></tr><tr><td style="background-color:#141414;padding:16px 24px;border-top:1px solid #2a2a2a"> <p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"> <strong style="color:#aaaaaa">Important Notice:</strong> This report is produced by Quantmatix and is intended solely for institutional and professional investors. It is provided for informational purposes only and does not constitute investment advice, a personal recommendation, or an offer or solicitation to buy or sell any financial instrument. Named references describe the output of our models — including Q Scores, Q Signals, Deep Positive Reversals and Advancing/Declining status — and are identical for all recipients; they do not take into account any recipient’s individual investment objectives, financial situation or needs. Historical close prices and percentage moves shown against the 25 July 2026 benchmark note are factual data drawn from Quantmatix’s own files and are shown for every name carried in that note, with no exclusions. A Q Signal is an early warning of a potential reversal and does not represent a directional recommendation. <strong style="color:#aaaaaa">Past signal performance is not indicative of future results.</strong> All price levels, percentage moves and scores reflect the most recent scoring run and are subject to change. Recipients should conduct independent due diligence and, where appropriate, seek advice from an authorised financial adviser before making any investment decision. Quantmatix is not authorised to provide investment advice under MiFID II. Quantmatix, its employees or associated persons may hold positions in instruments or sectors referenced. Methodology available on request. <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/00a9.png?v=61548701430" class="not-responsive emoji emoji-android emoji--copyright" style="height:23px;width:auto;vertical-align:middle" title="©" alt="©" /> 2026 Quantmatix Limited. All rights reserved. </p> </td></tr><tr><td style="background-color:#152030;padding:16px 24px;text-align:center"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold">Quantmatix · Global Miners & Metals · 12 August 2026</p></td></tr></tbody></td></tr></tbody></td></tr></tbody></table></td></tr></table></td></tr></tbody></table></td></tr></tbody></table>

Quantmatix — Japan Across the Asset Classes <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <table style="max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:22px 24px 18px 24px;border-bottom:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#8fa3bd;font-family:Arial,sans-serif;font-size:9.5px;font-weight:bold;letter-spacing:2px;text-transform:uppercase">Quantmatix · Japan Cross-Asset · Institutional Research</p> <p style="margin:0 0 8px 0;color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1.35">Japan Across the Asset Classes — Records but Cooling in Equities, Yields Pushing Higher, and a Yen Basing After a 40-Year Low</p> <p style="margin:0;padding-top:8px;border-top:1px solid #2a3a4d;color:#8fa3bd;font-family:Arial,sans-serif;font-size:10px"><br /></p> </td></tr> <tr><td style="background-color:#202020;padding:18px 24px;border-left:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">Executive Summary</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Japan is in the mature phase of its normalization trade, and the model shows it in every asset class at once. <b style="color:#ffffff">Equities</b> sit at record highs — the Nikkei near 64,400 — with the medium-term trend still up (64% of stocks Advancing on the weekly) but the short-term cooling hard (only 40% on the daily), and a cluster of the model’s earliest ceiling warnings concentrated in the very banks and insurers that led the rate-hike rally. <b style="color:#ffffff">Rates</b> are the engine: the model has JGB yields turning higher again across the curve, confirming the Bank of Japan’s move to its highest policy rate since 1995. <b style="color:#ffffff">FX</b> is where the drama is: the yen fell to a 40-year low near ¥164 per dollar in July before rebounding past ¥157 on suspected intervention, and the model now reads it as trying to base.</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#DEDC04">The one-line read.</b> The rate-normalization winners (banks, insurers) are stretched and flashing exhaustion just as yields push higher and the yen turns — a rotation risk inside a still-intact equity bull, with the currency the swing factor.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:22px 24px 4px 24px"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Highest-Conviction Signal Reads — Three Equities and the Cross-Asset Trades</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:10px 24px 0px 24px"> <p style="margin:0 0 10px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12px;line-height:1.6">The model’s highest-conviction reads this week: two beaten-up equities turning up, one stretched leader flashing a ceiling, plus the rates and FX expressions of the same normalization. These are model-derived signal reads, identical for all recipients and not recommendations; with no target prices in the data, conviction rests on signal strength and the two-horizon read.</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:12px"> <tbody><tr style="background-color:#152030"> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px;width:18px">#</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Equity Read</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Direction</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Sector · Level</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Signal</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Weekly Q</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Daily</td> </tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>1</b></td> <td style="color:#d9d9d9;padding:6px"><b>Tokyo Gas</b></td> <td style="color:#66cc66;font-weight:bold;padding:6px">▲ Positive</td> <td style="color:#d9d9d9;padding:6px">Utilities · ¥6,219</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">Deep Positive Reversal</td> <td style="color:#d9d9d9;padding:6px">−7.9</td> <td style="color:#66cc66;padding:6px">Advancing</td> </tr><tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>2</b></td> <td style="color:#d9d9d9;padding:6px"><b>Mitsubishi Electric</b></td> <td style="color:#d9d9d9;padding:6px">Capital Goods · ¥5,912</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">Positive Q Signal (early)</td> <td style="color:#d9d9d9;padding:6px">−7.1</td> <td style="color:#66cc66;padding:6px">Advancing · +0.7</td> </tr><tr style="background-color:#2e1a1a"> <td style="color:#d9d9d9;padding:6px"><b>3</b></td> <td style="color:#d9d9d9;padding:6px"><b>Mitsubishi UFJ</b></td> <td style="color:#ff6666;font-weight:bold;padding:6px">▼ Negative</td> <td style="color:#d9d9d9;padding:6px">Banks · ¥3,571</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">Ceiling Q Signal</td> <td style="color:#d9d9d9;padding:6px">+8.3</td> <td style="color:#ff6666;padding:6px">Declining</td> </tr></tbody></table> <p style="margin:10px 0 12px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6">Tokyo Gas is the deepest confirmed turn in the book (Osaka Gas reads the same); Mitsubishi Electric carries the model’s earliest up-warning off a deep score, already confirming on the daily; Mitsubishi UFJ heads a one-directional cluster of bank/insurer ceiling warnings (SMFG, Chiba, Yokohama, Japan Post), with Sumitomo Mitsui Trust already on a confirmed High Score Negative Reversal.</p> </td><td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Cross-Asset Read</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Model Signal Read</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Key Signal</td> </tr><tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>Rates — JGBs</b></td> <td style="color:#d9d9d9;padding:6px">Higher yields · bear-steepening bias</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">Confirmed Positive Reversals at the 2Y (1.50%) and 30Y (3.99%); 10Y re-accelerating on the daily. 1Y at Q +9.7 — near-term hikes already priced.</td> </tr><tr style="background-color:#202020"> <td style="color:#d9d9d9;padding:6px"><b>FX — Japanese Yen</b></td> <td style="color:#d9d9d9;padding:6px">Yen recovery from oversold</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">Confirmed daily Positive Reversal off a deeply oversold weekly (Q −7.3), supported by the rising JGB curve and the intervention backstop. Swing factor: the US Fed path.</td> <p style="margin:10px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6">One thread runs through all five: rising yields and a firmer yen argue for rotation away from the stretched exporters and rate-winner banks toward beaten-up domestic and import-sensitive names — exactly what the equity signals show.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Cross-Asset Dashboard</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:11.5px"> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Asset Class</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Level</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Weekly Read</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Daily Read</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Model Signal</td> <td style="color:#d9d9d9;padding:6px"><b>Equities — Nikkei 225</b></td> <td style="color:#d9d9d9;padding:6px">64,362</td> <td style="color:#d9d9d9;padding:6px">Q +1.6 · Declining</td> <td style="color:#ff6666;padding:6px">Q −6.7 · Declining</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">Trend up but short-term rolling over near records.</td> <tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>Equities — TOPIX</b></td> <td style="color:#d9d9d9;padding:6px">4,003</td> <td style="color:#d9d9d9;padding:6px">Q +2.4 · Declining</td> <td style="color:#ff6666;padding:6px">Negative Reversal</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">Confirmed short-term turn down from the high.</td> <td style="color:#d9d9d9;padding:6px"><b>Rates — JGB 10Y</b></td> <td style="color:#d9d9d9;padding:6px">2.79%</td> <td style="color:#d9d9d9;padding:6px">Q +1.9</td> <td style="color:#66cc66;padding:6px">Advancing (Q +5.3)</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">Yield turning back up on the daily.</td> <td style="color:#d9d9d9;padding:6px"><b>Rates — JGB 2Y / 30Y</b></td> <td style="color:#d9d9d9;padding:6px">1.50% / 3.99%</td> <td style="color:#66cc66;padding:6px">Positive Reversal</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">Confirmed higher yields at both ends — normalization.</td> </tr><tr style="background-color:#182a20"> <td style="color:#d9d9d9;padding:6px"><b>FX — Yen (vs CNY, model)</b></td> <td style="color:#d9d9d9;padding:6px">—</td> <td style="color:#d9d9d9;padding:6px">Q −7.3 · Advancing</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">Deeply weak but turning up — a basing signal.</td> <p style="margin:10px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6">Q Score runs −10 (deeply beaten down) to +10 (stretched). The weekly is the durable trend; the daily surfaces turns first. On a yield, “Advancing” means the yield is rising.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Equities — the Trend Holds, the Leaders Tire</p> <p style="margin:0 0 14px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">The Japanese equity market is at record levels and its medium-term trend is intact: <b>64% of the ~277 stocks we score are Advancing on the weekly</b>. But the short-term has turned down — only <b>40% are Advancing on the daily</b>, and both headline indices are rolling over on the fast horizon (Nikkei daily Q −6.7; TOPIX a confirmed daily Negative Reversal). This is a near-term pullback within an uptrend, not a breakdown — but it is arriving with a clear message about <i>where</i> the fatigue is.</p> <p style="margin:0 0 14px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ffffff">The tell is in the rate-hike winners.</b> Of the 18 fresh <b>Q Signals</b> — the model’s earliest warning of a potential reversal — the largest cluster is in <b>banks and insurers</b>, the sectors that re-rated hardest on rising rates: Mitsubishi UFJ (Q +8.3), Sumitomo Mitsui Financial (+7.7), Sumitomo Mitsui Trust (+7.7), Chiba Bank (+7.9), Yokohama Financial (+7.4), plus Japan Post and M3 among insurers/health. The TOPIX Banks and Insurance indices sit at stretched scores (+7.4, +8.1) and the TOPIX Services index has fired a High Score Negative Reversal (+8.9). Bank breadth has collapsed to just 9% Advancing on the weekly. The winners are not broken — but the model is flagging ceilings across them at once.</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ffffff">Where the early turns are.</b> Against the tiring leaders, the beaten-up side is stirring: <b>Mitsubishi Electric</b> (Q −7.1) and <b>Fuji Electric</b> (−3.0) carry positive Q Signals, and even a semiconductor name (<b>Advantest</b>) shows one, hinting at a chip-led bounce. At the index level, TOPIX Mining is a Deep Positive Reversal (−4.4), and Electric Power & Gas (−5.7), Construction (−4.6) and Wholesale (−3.3, Positive Reversal) are the low-scored domestic sectors turning up. Sector breadth is strongest in Energy, Real Estate, Pharma, Staples, Transportation, Media, Software and Autos; weakest in Banks (9%), Semiconductors (12%), Materials and Tech Hardware.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Rates — the JGB Curve Confirms Normalization</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Japanese government-bond yields are the highest in a generation, and the model shows fresh upward momentum rather than a peak. The <b>Bank of Japan held its policy rate at 1.00% on 31 July</b> — the highest since September 1995 — after a 25bp hike in June, with one board member dissenting for 1.25% and hawks arguing for steady moves toward a ~2% neutral rate (public sources: BoJ, Trading Economics). Our curve reads accordingly:</p> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Tenor</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Yield</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Read</td> </tr><tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>1Y</b></td><td style="color:#d9d9d9;padding:6px">1.22%</td><td style="color:#d9d9d9;padding:6px">+9.7</td><td style="color:#66cc66;padding:6px">Advancing</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Near-term policy expectations fully priced (stretched).</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>2Y</b></td><td style="color:#d9d9d9;padding:6px">1.50%</td><td style="color:#d9d9d9;padding:6px">+3.1</td><td style="color:#66cc66;padding:6px">Positive Reversal</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Policy-sensitive front end confirmed higher.</td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>10Y</b></td><td style="color:#d9d9d9;padding:6px">2.79%</td><td style="color:#d9d9d9;padding:6px">+1.9</td><td style="color:#66cc66;padding:6px">Daily Advancing (+5.3)</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Turning back up on the daily after a pause.</td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>20Y</b></td><td style="color:#d9d9d9;padding:6px">3.70%</td><td style="color:#d9d9d9;padding:6px">+2.3</td><td style="color:#66cc66;padding:6px">Advancing</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Long end cheapening with the curve.</td></tr> <tr style="background-color:#182a20"><td style="color:#d9d9d9;padding:6px"><b>30Y</b></td><td style="color:#d9d9d9;padding:6px">3.99%</td><td style="color:#d9d9d9;padding:6px">+3.4</td><td style="color:#66cc66;padding:6px">Positive Reversal</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Confirmed higher — fiscal supply and normalization.</td></tr> <p style="margin:10px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6">Positive reversals at both the 2Y (policy) and 30Y (fiscal/term-premium) ends, with the 10Y re-accelerating on the daily, describe a normalization that is not finished. The 1Y at +9.7 says the market has already priced the near-term hikes.</p> <tr><td style="background-color:#1a1a1a;padding:22px 24px 4px 24px"> <p style="margin:0;color:#ff9900;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">FX — What Is Going On With the Yen</p> <p style="margin:0 0 14px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">The currency is the centre of gravity for Japan right now, and it has been violent. Having hit a <b>40-year low near ¥164 per dollar in July</b>, the yen rebounded past ¥160 and traded around <b>¥157.4 by 31 July — up roughly 3% on the month, but still down about 7% over the year</b> (public market data: Trading Economics, Nikkei). The bounce is widely attributed to <b>suspected intervention</b>: press reporting had Japanese authorities entering the FX market just hours before the BoJ meeting, with US officials said to have requested dollar-yen quotes, and Finance Minister Satsuki Katayama repeatedly signalling readiness to act — following earlier Ministry of Finance yen-buying reported at roughly $74bn into late spring.</p> <p style="margin:0 0 14px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ffffff">Why the yen has been so weak — three forces.</b> First, the <b>interest-rate gap</b>: even after the BoJ’s hikes to 1.00%, the US Fed funds rate sits at 3.75% and the US 10-year near 4.74% against Japan’s 2.79%, so the carry incentive to be short yen remains large. Second, <b>energy import costs</b>: soaring LNG and fuel prices — tied to the conflict involving Iran — force Japanese importers to buy dollars, a structural yen drag for an energy-poor economy. Third, <b>fiscal concerns</b>: a domestic proposal to cut the food consumption tax to 1% from 8% raises the prospect of more debt issuance and yen supply.</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ffffff">What the model adds.</b> Our own signal on the yen (priced against the Chinese yuan) is deeply negative on the weekly (Q −7.3, reflecting how far it fell) but has fired a <b>confirmed positive reversal on the daily</b> — the model’s read that the yen is trying to base. That squares with the rates picture: the JGB curve confirming higher yields narrows the differential at the margin and, together with the intervention backstop and the BoJ’s hawkish lean, gives the currency its first genuine footing after the July capitulation. The swing factor from here is whether the US Fed’s own path lets that rate gap start to close.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Commodities & the Energy Link</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">The direct commodity content of the Japan file is limited (the Osaka rubber future, mildly stretched), but the commodity that matters most for Japan is energy — and it runs straight into the FX story. With crude and LNG elevated on the Iran conflict, Japan’s import bill is a live pressure on both the yen and the margins of its manufacturers and utilities. That is part of why the domestic <b>Electric Power & Gas</b> index sits so beaten-down (Q −5.7) even as it begins to turn: the sector wears the energy-cost squeeze most directly, and any easing in oil or the yen’s recovery would relieve it first.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">What to Watch</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:10px 24px 20px 24px"> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Three tensions decide the next move. <b style="color:#ffffff">(1) The bank/insurer exhaustion:</b> whether the cluster of ceiling warnings converts into a genuine pullback in the rate-winners, which given their index weight would pressure the TOPIX even if the broad market holds. <b style="color:#ffffff">(2) The yen’s base:</b> whether the daily positive reversal builds into a durable recovery — supportive for domestic and import-sensitive names, a headwind for the exporters that have led. <b style="color:#ffffff">(3) The BoJ path:</b> further hikes toward the ~2% neutral rate the hawks favour would extend the yield move and the rotation away from stretched growth toward value and domestic cyclicals. The equity uptrend is intact on the weekly; the risk is a leadership change, not a top.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:0px 24px 4px 24px"> <table style="border-collapse:collapse"> <tbody><tr><td style="background-color:#202020;padding:12px 14px;border-left:3px solid #333333"> <p style="margin:0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:11px;line-height:1.6"><b style="color:#aaaaaa">Data & method.</b> The Q Score is a proprietary measure of Velocity (Direction and Momentum), −10 (deeply beaten down) to +10 (stretched), computed on a weekly (preferred) and a daily horizon. “Advancing/Declining” is the direction of the score (for a bond yield, the direction of the yield); a <b>Deep Positive Reversal</b> is a confirmed positive reversal on a Q Score of −4 to −10; a <b>High Score Negative Reversal</b> is a confirmed downturn from +7 to +10; a <b>Q Signal</b> is the model’s earliest-stage warning of a potential reversal and is not a directional recommendation. These extracts carry Q Score, direction and reversal flags but no target prices, so reads are framed on signal strength and momentum, not expected value. Model figures are Quantmatix data for the readings dated 2 August 2026. Macro, rates and FX context (BoJ policy, USD/JPY levels, intervention reports, yield differentials, energy) is drawn from public sources including Trading Economics, Nikkei and the Bank of Japan, is provided for context, and has not been independently verified by Quantmatix.</p><p style="margin:0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:11px;line-height:1.6"><br /></p> </td></tr><tr><td style="background-color:#1a1a1a;padding:18px 24px 4px 24px"> <tbody><tr><td style="background-color:#152030;padding:16px 18px;border-radius:3px;border-left:3px solid #DEDC04"> <p style="margin:0;color:#e6e6e6;font-family:Arial,sans-serif;font-size:13px;line-height:1.6"><b style="color:#DEDC04">The full Japan cross-asset extract is available to subscribers now.</b> All ~277 equities, the full JGB curve and FX, scored nightly on weekly and daily horizons, across our full universe of 10,000 markets. Subscribe at <b style="color:#DEDC04"><a href="http://quantmatix.com" style="color:#DEDC04;text-decoration:none">quantmatix.com</a></b>, or get in touch directly: <b style="color:#DEDC04"><a href="mailto:Liam.Boggan@quantmatix.com" style="color:#DEDC04;text-decoration:none">Liam.Boggan@quantmatix.com</a></b> · Enterprise & institutional: <b style="color:#DEDC04"><a href="mailto:Colm.Gaughran@quantmatix.com" style="color:#DEDC04;text-decoration:none">Colm.Gaughran@quantmatix.com</a></b>.</p> </td></tr><tr><td style="background-color:#141414;padding:16px 24px;border-top:1px solid #2a2a2a"> <p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"><strong style="color:#aaaaaa"><br /></strong></p><p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"> <strong style="color:#aaaaaa">Important Notice:</strong> Model output for information and analysis only; not investment advice, a personal recommendation, or an offer or solicitation to buy or sell any instrument. Thematic and named references describe Quantmatix model output (Q Scores, directions and reversals across weekly and daily horizons), are identical for all recipients, and take no account of any recipient’s objectives or circumstances. Model reads and the highest-conviction “signal reads” are model-derived outputs, identical for all recipients and not recommendations, and are estimates, not forecasts or guarantees; a Q Signal is an early warning of a potential reversal, not a directional recommendation; past performance is not indicative of future results. Third-party market, economic and FX data is attributed to public sources and has not been independently verified by Quantmatix. Quantmatix is not authorised to provide investment advice under MiFID II. Quantmatix, its employees or associated persons may hold positions in instruments mentioned. <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/00a9.png?v=61548701430" class="not-responsive emoji emoji-android emoji--copyright" style="height:23px;width:auto;vertical-align:middle" title="©" alt="©" /> 2026 Quantmatix Limited. All rights reserved. </p> </td></tr><tr><td style="background-color:#152030;padding:16px 24px;text-align:center" class="rz-html-editor-cell-selected"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold">Quantmatix · Japan Cross-Asset · 3 August 2026</p></td></tr></tbody></td></tr></tbody></table></td></tr></table></tr></tbody></table></td></tr></tbody></table>

Quantmatix — US Sector Note: Rotation, Not Retreat <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <br /><table style="max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:22px 24px 18px 24px;border-bottom:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#8fa3bd;font-family:Arial,sans-serif;font-size:9.5px;font-weight:bold;letter-spacing:2px;text-transform:uppercase">Quantmatix · US Sectors · Institutional Research</p> <p style="margin:0 0 8px 0;color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1.35">US Sector Note — Rotation, Not Retreat: the Summer Leaders Cool, Semiconductors Keep Sliding, and Energy & Defensive Staples Hold the Line</p> <p style="margin:0;padding-top:8px;border-top:1px solid #2a3a4d;color:#8fa3bd;font-family:Arial,sans-serif;font-size:10px"><br /></p> </td></tr> <tr><td style="background-color:#202020;padding:18px 24px;border-left:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">The Week in One Read</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ffffff">The negative read.</b> This was a broad give-back by the summer’s leaders. Every sector that led in July lost breadth on the week — Utilities fell from 80% to 53% Advancing, Real Estate 51%→34%, Financials 67%→58%, Health Care 66%→58%, Consumer Staples 68%→55%. The model’s highest-conviction signals turned defensive with it: <b style="color:#ff6666">Top Quantmatix reads are net-negative, 15 to 5</b>, and the single cleanest one-directional cluster is now a <b style="color:#ff6666">negative</b> one — <b>Health Care</b>, which has swung from the market’s biggest positive cluster a fortnight ago to nine fresh High Score Negative Reversals, ten further negative reversals and five Top Quantmatix Negative reads (CVS, ICON, Neurocrine, Ligand). Office real estate is exhausting alongside it (BXP, Vornado).</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ffffff">The positive read.</b> Two pockets held their conviction. <b>Energy</b> is the one clean positive cluster in the book — <span style="color:#66cc66;font-weight:bold">five fresh Deep Positive Reversals</span> in the gas-weighted producers (EQT, Range, Northern Oil), zero negative reversals against them, and a Top Quantmatix Positive in Viper Energy. And <b>defensive food & staples</b> carry the model’s highest-conviction longs even as their breadth eased — <span style="color:#66cc66;font-weight:bold">Costco, Tyson and Post are all Top Quantmatix Positive</span>. Underneath, <b>Information Technology</b> was the only sector to gain breadth (28%→41%), as Amazon (+17% on the week) and Microsoft (+22%) bounced hard on earnings while Apple rolled over from stretched.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:22px 24px 4px 24px"> <p style="margin:0;color:#66cc66;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#66cc66;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Highest Expected-Value Signal Reads</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:10px 24px 0px 24px"> <p style="margin:0 0 10px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12px;line-height:1.6">The three Top Quantmatix Positive names that also carry TEVO — the model’s top signal tier — ranked by EV. EV is the probability-weighted blend of the two Ref. Levels less the two Downside Refs.; Freq. is the model’s historical reversal-completion frequency to the first Ref. Level. The sector detail and clusters that frame them follow below.</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:12px"> <tbody><tr style="background-color:#152030"> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Name</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Sector · cap</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Signal</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Q</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Ref. Level · Freq.</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">EV</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Earnings</td> </tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><span style="color:#C8A84B;font-weight:bold">★</span> <b>Globus Medical</b> GMED</td> <td style="color:#d9d9d9;padding:6px">Health Care · Large</td> <td style="color:#66cc66;font-size:10.5px;padding:6px">Top Q Positive + TEVO</td> <td style="color:#d9d9d9;padding:6px">−5.0</td> <td style="color:#d9d9d9;padding:6px">61%</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+10.4%</td> <td style="color:#d9d9d9;padding:6px">06 Aug</td> </tr><tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><span style="color:#C8A84B;font-weight:bold">★</span> <b>Costco</b> COST</td> <td style="color:#d9d9d9;padding:6px">Consumer Staples · Large</td> <td style="color:#d9d9d9;padding:6px">−5.1</td> <td style="color:#d9d9d9;padding:6px">85%</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+7.4%</td> <td style="color:#d9d9d9;padding:6px">24 Sep</td> </tr><tr style="background-color:#182a20"> <td style="color:#d9d9d9;padding:6px"><span style="color:#C8A84B;font-weight:bold">★</span> <b>Tyson Foods</b> TSN</td> <td style="color:#d9d9d9;padding:6px">−7.7</td> <td style="color:#d9d9d9;padding:6px">60%</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+6.2%</td> <td style="color:#d9d9d9;padding:6px">03 Aug</td> </tr></tbody></table> <p style="margin:10px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6">Costco and Tyson sit inside the week’s defensive-staples positive cluster — beaten-up on score, turning up, with Costco’s 85% Freq. the highest read in the book. Globus Medical carries the richest EV of any Top Quantmatix Positive, but it is a name-specific read: it stands apart from an otherwise-heavy health-care tape rather than inside a positive sector cluster. Viper Energy (Top Quantmatix Positive, EV +4.1%) is the named leader of the cleaner Energy cluster covered below.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Universe Signal Tally — Week Ending 31 July</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:10px 24px 4px 24px"> <table style="border-collapse:collapse;font-family:Arial,sans-serif;text-align:center"> <td style="color:#d9d9d9;padding:10px">Deep Positive Reversals<br /><span style="font-size:18px;font-weight:bold;color:#66cc66">24</span></td> <td style="color:#d9d9d9;padding:10px">High Score Negative Reversals<br /><span style="font-size:18px;font-weight:bold;color:#ff6666">24</span></td> <td style="color:#d9d9d9;padding:10px">Top Quantmatix Positive<br /><span style="font-size:18px;font-weight:bold;color:#66cc66">5</span></td> <td style="color:#d9d9d9;padding:10px">Top Quantmatix Negative<br /><span style="font-size:18px;font-weight:bold;color:#ff6666">15</span></td> <td style="color:#d9d9d9;padding:10px">TEVO<br /><span style="font-size:18px;font-weight:bold;color:#f0d48a">20</span></td> <p style="margin:8px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6">Fresh reversals split evenly (24 up / 24 down) and the high-conviction Top Quantmatix reads lean 3-to-1 negative — the signature of a consolidating, rotating tape rather than a directional one. A Deep Positive Reversal is a beaten-up name (Q −4 to −10) turning up; a High Score Negative Reversal is a stretched name (Q +7 to +10) turning down.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Where the Model’s Conviction Sits</p> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Model reading</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Sectors</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">What the signals show</td> <td style="color:#d9d9d9;padding:6px"><b>Cleanest positive cluster</b></td> <td style="color:#d9d9d9;padding:6px"><b>Energy</b></td> <td style="color:#d9d9d9;font-size:11px;padding:6px">Five fresh Deep Positive Reversals, no offsetting negative — gas-weighted producers turning up from washed-out scores (Adv. just 27%).</td> <td style="color:#d9d9d9;padding:6px"><b>Highest-conviction longs</b></td> <td style="color:#d9d9d9;padding:6px"><b>Consumer Staples</b></td> <td style="color:#d9d9d9;font-size:11px;padding:6px">Breadth eased but the Top Quantmatix Positives concentrate here (Costco, Tyson, Post) — a defensive-quality bid.</td> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>Leaders cooling</b></td> <td style="color:#d9d9d9;padding:6px"><b>Financials, Utilities</b></td> <td style="color:#d9d9d9;font-size:11px;padding:6px">Last week’s leaders gave back the most breadth; scores still high but rolling — stretched, not yet broken.</td> <td style="color:#d9d9d9;padding:6px"><b>Stabilising / two-way</b></td> <td style="color:#d9d9d9;padding:6px"><b>Information Technology</b></td> <td style="color:#d9d9d9;font-size:11px;padding:6px">Only sector to gain breadth (28%→41%) as mega-caps bounce on earnings, but reversals still net-down — a rotation, not a clean cluster.</td> </tr><tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"> <td style="color:#d9d9d9;padding:6px"><b>Exhaustion cluster</b></td> <td style="color:#d9d9d9;padding:6px"><b>Health Care</b></td> <td style="color:#d9d9d9;font-size:11px;padding:6px">The standout negative — 9 High Score Negative Reversals + 5 Top Quantmatix Negative; swung from the market’s biggest positive cluster a fortnight ago.</td> </tr><tr style="background-color:#2e2318"> <td style="color:#d9d9d9;padding:6px"><b>Weakest</b></td> <td style="color:#d9d9d9;padding:6px"><b>Real Estate, Industrials</b></td> <td style="color:#d9d9d9;font-size:11px;padding:6px">Real Estate 34% Advancing and falling fastest (office REITs exhausting); Industrials 38% with a broad negative-reversal cluster.</td> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">The Read — Four Things the Signals Are Saying</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#66cc66">1 ▲ Energy is the only clean positive cluster.</b> Five gas-weighted producers fired fresh Deep Positive Reversals with nothing turning down against them, and Viper Energy carries a Top Quantmatix Positive — a one-directional signal concentration off deeply washed-out scores.</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#66cc66">2 ▲ The high-conviction longs went defensive.</b> The Top Quantmatix Positive reads are concentrated in food & staples (Costco, Tyson, Post) — a flight to quality-defensives even as the sector’s breadth eased.</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ff6666">3 ▼ Health Care is the exhaustion story.</b> Nine High Score Negative Reversals and five Top Quantmatix Negative reads make it the cleanest negative cluster — a full reversal of its mid-July leadership. Office real estate is exhausting with it.</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ffffff">4 → Tech is stabilising, not surging.</b> Breadth improved on the Amazon and Microsoft earnings bounce, but the reversal balance is still net-down and Apple is rolling over — a two-way rotation, not a cluster.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Sector Overview — Every US Sector</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:11.5px"> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Sector</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Adv.</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">vs last wk</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Fresh +/−</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Signal read</td> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Energy</b></td><td style="color:#d9d9d9;padding:6px">58%</td><td style="color:#ff6666;padding:6px">▼ 60%</td><td style="color:#d9d9d9;padding:6px">5 up / 0 down</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Cleanest positive cluster — gas E&Ps turning up.</td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Financials</b></td><td style="color:#d9d9d9;padding:6px">58%</td><td style="color:#ff6666;padding:6px">▼ 67%</td><td style="color:#d9d9d9;padding:6px">2 up / 15 down</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Leader cooling; banks stretched and rolling.</td></tr> <tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Health Care</b></td><td style="color:#d9d9d9;padding:6px">57%</td><td style="color:#ff6666;padding:6px">▼ 66%</td><td style="color:#d9d9d9;padding:6px">2 up / 19 down</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Exhaustion — the biggest negative cluster.</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Consumer Staples</b></td><td style="color:#d9d9d9;padding:6px">55%</td><td style="color:#ff6666;padding:6px">▼ 68%</td><td style="color:#d9d9d9;padding:6px">1 up / 5 down</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Breadth off, but holds the Top Quantmatix longs.</td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Utilities</b></td><td style="color:#d9d9d9;padding:6px">53%</td><td style="color:#ff6666;padding:6px">▼ 80%</td><td style="color:#d9d9d9;padding:6px">2 up / 0 down</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Sharp give-back from last week’s leader.</td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Communication Services</b></td><td style="color:#d9d9d9;padding:6px">49%</td><td style="color:#d9d9d9;padding:6px">→ 49%</td><td style="color:#d9d9d9;padding:6px">1 up / 3 down</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Flat, no defining cluster.</td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Consumer Discretionary</b></td><td style="color:#d9d9d9;padding:6px">47%</td><td style="color:#ff6666;padding:6px">▼ 57%</td><td style="color:#d9d9d9;padding:6px">4 up / 13 down</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Rolling over; two-way, net negative.</td></tr> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Information Technology</b></td><td style="color:#d9d9d9;padding:6px">41%</td><td style="color:#66cc66;padding:6px">▲ 28%</td><td style="color:#d9d9d9;padding:6px">1 up / 11 down</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Only improver — mega-cap earnings bounce; still two-way.</td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Materials</b></td><td style="color:#d9d9d9;padding:6px">40%</td><td style="color:#ff6666;padding:6px">▼ 49%</td><td style="color:#d9d9d9;padding:6px">1 up / 3 down</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Soft, no cluster.</td></tr> <tr style="background-color:#2e2318;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Industrials</b></td><td style="color:#d9d9d9;padding:6px">38%</td><td style="color:#ff6666;padding:6px">▼ 43%</td><td style="color:#d9d9d9;padding:6px">1 up / 14 down</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Weak — broad negative-reversal cluster.</td></tr> <tr style="background-color:#2e1a1a"><td style="color:#d9d9d9;padding:6px"><b>Real Estate</b></td><td style="color:#d9d9d9;padding:6px">34%</td><td style="color:#ff6666;padding:6px">▼ 51%</td><td style="color:#d9d9d9;padding:6px">0 up / 7 down</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Weakest — office REITs exhausting (BXP, Vornado).</td></tr> <p style="margin:10px 0 0 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.6">“Adv.” is the share of a sector with a rising weekly Q Score (context); “fresh +/−” counts the confirmed Deep Positive Reversals against the High Score Negative and other negative reversals dated to the latest week — this is where the clusters are read.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">The Clusters — Where the Signals Concentrate One Way</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#66cc66">Energy — one-directional positive.</b> The cleanest cluster in the market: five fresh Deep Positive Reversals in the gas-weighted producers — EQT (Q −4.3), Range Resources (−4.0), Northern Oil & Gas (−6.1), VAALCO (−6.9) and Vitesse (−8.4) — with no negative reversals against them and Viper Energy carrying a Top Quantmatix Positive. The whole complex is turning up from deeply washed-out scores (sector Adv. just 27%).</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#66cc66">Consumer Staples — a defensive conviction cluster.</b> The model’s highest-conviction longs sit here: Costco, Tyson and Post are all Top Quantmatix Positive, with TEVO reinforcing Costco and Tyson. It is a one-directional positive concentration in food & staples — a quality-defensive bid running while the cyclical leaders cool.</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ff6666">Health Care — one-directional negative.</b> The mirror image, and the week’s most important shift. Two weeks ago health care was the market’s largest positive cluster; this week it fired nine High Score Negative Reversals and five Top Quantmatix Negative reads (CVS Q +8.7, ICON +8.6, Neurocrine +8.3, Ligand +7.6) against just two Deep Positive Reversals. That is an exhaustion cluster, not a two-way rotation.</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ffffff">Information Technology & Financials — rotations, not clusters.</b> Both are pulling two ways. Tech gained breadth on the Amazon/Microsoft earnings bounce yet still shows more negative reversals than positive; Financials stayed high on score but gave back breadth with banks stretching. Neither is a one-directional cluster this week — they read stock by stock, not as a call.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">AI & Semiconductors — the Mid-July Call, Updated</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ffffff">The chip call has deepened, not faded.</b> Our mid-July read — the semiconductor chain rolling over while beaten-up software turns up — is intact and sharper this week. Only <b>2 of 59 semiconductors advanced (3%)</b>, and the deterioration accelerated: the group’s average weekly score change was <b>−1.68, worse than the −0.97 of the week before</b>, and its average score fell from +2.0 to +0.3. Every semiconductor carries a negative reversal, and every bellwether lost score week-on-week — AMD 6.9→5.7, Micron 4.4→2.4, KLA 4.1→2.1, Qualcomm 0.3→−2.0 — with prices down double digits (KLA −13%, NXP −15%, Qualcomm −12%, Micron −11%). The AI-chip leaders sit in the same camp: Nvidia’s score slipped to −0.4 and is declining, Broadcom −0.7 and declining.</p> <p style="margin:0 0 12px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#66cc66">The other half of the call is playing out too.</b> The “software comes back” leg has confirmed — Software & Services breadth rose from 39% to 60% Advancing and its score change turned positive (+0.31) — and the mega-cap cloud names bounced on earnings with their scores improving, not just their prices (Microsoft score +1.7 on a +22% week, Amazon +0.6 on +17%). The AI money that moved this week moved into cloud and software, not the chips.</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:12px;margin-bottom:12px"> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Group</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Adv. (this wk / prior)</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Avg score Δ</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Model read</td> <td style="color:#d9d9d9;padding:6px"><b>Semiconductors</b> (59)</td> <td style="color:#d9d9d9;padding:6px">3% / 0%</td> <td style="color:#ff6666;font-weight:bold;padding:6px">−1.68</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">Still rolling over — deterioration accelerating.</td> <td style="color:#d9d9d9;padding:6px"><b>Software & Services</b> (148)</td> <td style="color:#d9d9d9;padding:6px">60% / 39%</td> <td style="color:#66cc66;font-weight:bold;padding:6px">+0.31</td> <td style="color:#d9d9d9;font-size:10.5px;padding:6px">“Software comes back” — confirmed.</td> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><b style="color:#ffffff">A month-end caveat, and how the model cuts through it.</b> This print closed July, so window dressing and rebalancing flows can overstate the recent winners into the month-end. The test is price against signal. Where both rose — Microsoft, Amazon, the software group — the turn is corroborated and is more than flow. Where a price popped but the score fell and the negative reversal held — a couple of chips bounced into the close (Monolithic +7%, Teradyne +5%) yet their scores dropped (−0.6, −2.1) — that is the fingerprint of flow without a turn, and the chip group fell hard regardless. The read for clients: the negative semiconductor call is intact and has deepened; the constructive side of the same call is software and the cloud mega-caps, not the silicon.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Magnificent Seven — Velocity Read</p> <p style="margin:0 0 8px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:12px;line-height:1.6">Split by earnings: Amazon and Microsoft turned up hard on results; Apple rolled over from stretched; the rest stayed soft.</p> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Score Δ</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Week %</td> <td style="color:#ffffff;font-size:9px;font-weight:bold;padding:6px">Read</td> <tr style="background-color:#182a20;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Microsoft</b> MSFT</td><td style="color:#d9d9d9;padding:6px">−4.3</td><td style="color:#66cc66;padding:6px">+1.7 ▲</td><td style="color:#66cc66;padding:6px">▲21.8%</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Biggest score improvement of the seven — earnings bounce off a deep base.</td></tr> <tr style="background-color:#16261c;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Amazon</b> AMZN</td><td style="color:#d9d9d9;padding:6px">−2.7</td><td style="color:#66cc66;padding:6px">+0.6 ▲</td><td style="color:#66cc66;padding:6px">▲17.0%</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Turning up on results; score rising toward the flat line.</td></tr> <tr style="background-color:#2e1a1a;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Apple</b> AAPL</td><td style="color:#d9d9d9;padding:6px">+5.7</td><td style="color:#ff6666;padding:6px">−0.4 ▼</td><td style="color:#ff6666;padding:6px">▼7.2%</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">The one stretched name, now rolling over — a High-Score fade.</td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Meta</b> META</td><td style="color:#d9d9d9;padding:6px">−1.4</td><td style="color:#d9d9d9;padding:6px">0.0 →</td><td style="color:#ff6666;padding:6px">▼6.5%</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Flat score; no turn either way.</td></tr> <tr style="background-color:#2e2318;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Alphabet</b> GOOG</td><td style="color:#d9d9d9;padding:6px">−3.6</td><td style="color:#ff6666;padding:6px">−1.4 ▼</td><td style="color:#66cc66;padding:6px">▲11.8%</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Price up but score falling — a divergence to watch.</td></tr> <tr style="background-color:#202020;border-bottom:1px solid #2a2a2a"><td style="color:#d9d9d9;padding:6px"><b>Nvidia</b> NVDA</td><td style="color:#d9d9d9;padding:6px">−0.4</td><td style="color:#ff6666;padding:6px">−0.9 ▼</td><td style="color:#ff6666;padding:6px">▼2.9%</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Drifting lower into its 26 Aug print.</td></tr> <tr style="background-color:#2e1a1a"><td style="color:#d9d9d9;padding:6px"><b>Tesla</b> TSLA</td><td style="color:#d9d9d9;padding:6px">−4.7</td><td style="color:#ff6666;padding:6px">−1.1 ▼</td><td style="color:#ff6666;padding:6px">▼0.6%</td><td style="color:#d9d9d9;font-size:10.5px;padding:6px">Deepest-scored and still declining.</td></tr> <tr><td style="background-color:#1a1a1a;padding:20px 24px 4px 24px"> <table style="border-collapse:collapse"> <tbody><tr><td style="background-color:#202020;padding:12px 14px;border-left:3px solid #333333"> <p style="margin:0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:11px;line-height:1.6"><b style="color:#aaaaaa">Data & method.</b> The Q Score is a proprietary measure of Velocity (Direction and Momentum), −10 (deeply beaten down) to +10 (stretched), refreshed nightly. Conviction is ordered Top Quantmatix → TEVO → Deep Reversals (a Deep Positive Reversal is Q −4 to −10 with a confirmed positive turn; a High Score Negative Reversal is Q +7 to +10 with a confirmed negative turn). A “cluster” is a one-directional concentration of these signals within a group; a group pulling both ways is a rotation, not a cluster. “Advancing” is the share of a sector with a rising weekly Q Score. Freq. is the model’s historical reversal-completion frequency to the first Ref. Level; EV is the probability-weighted blend of the two Ref. Levels less the two Downside Refs., as a percentage of the close. All figures are Quantmatix data for the week ending 31 July 2026, US instruments only — no outside data.</p><p style="margin:0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:11px;line-height:1.6"><br /></p> </td></tr><tr><td style="background-color:#1a1a1a;padding:18px 24px 4px 24px"> <tbody><tr><td style="background-color:#152030;padding:16px 18px;border-radius:3px;border-left:3px solid #DEDC04"> <p style="margin:0;color:#e6e6e6;font-family:Arial,sans-serif;font-size:13px;line-height:1.6"><b style="color:#DEDC04">The full US sector extract is available to subscribers now.</b> All 1,898 US instruments, scored nightly across 11 sectors, with Ref. Levels, Downside Refs. and EV on every Top Quantmatix + TEVO read, across our full universe of 10,000 markets. Subscribe at <b style="color:#DEDC04"><a href="http://quantmatix.com" style="color:#DEDC04;text-decoration:none">quantmatix.com</a></b>, or get in touch directly: <b style="color:#DEDC04"><a href="mailto:Liam.Boggan@quantmatix.com" style="color:#DEDC04;text-decoration:none">Liam.Boggan@quantmatix.com</a></b> · Enterprise & institutional: <b style="color:#DEDC04"><a href="mailto:Colm.Gaughran@quantmatix.com" style="color:#DEDC04;text-decoration:none">Colm.Gaughran@quantmatix.com</a></b>.</p> </td></tr><tr><td style="background-color:#141414;padding:16px 24px;border-top:1px solid #2a2a2a"> <p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"><strong style="color:#aaaaaa"><br /></strong></p><p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"> <strong style="color:#aaaaaa">Important Notice:</strong> Model output for information and analysis only; not investment advice, a personal recommendation, or an offer or solicitation to buy or sell any instrument. Sector readings and named references describe Quantmatix model output (Q Scores, reversals, Top Quantmatix, TEVO, Ref. Levels, Freq. and EV), are identical for all recipients, and take no account of any recipient’s objectives or circumstances. Model reads and the highest-conviction signal reads are model-derived outputs, identical for all recipients and not recommendations, and are estimates, not forecasts or guarantees; a Q Signal is an early warning of a potential reversal, not a directional recommendation; Freq. and EV are model estimates from historical Ref. Level and Downside Ref. probabilities and are not indicative of future results; past performance is not a guide to future performance. Quantmatix is not authorised to provide investment advice under MiFID II. Quantmatix, its employees or associated persons may hold positions in instruments mentioned. <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/00a9.png?v=61548701430" class="not-responsive emoji emoji-android emoji--copyright" style="height:23px;width:auto;vertical-align:middle" title="©" alt="©" /> 2026 Quantmatix Limited. All rights reserved. </p> </td></tr><tr><td style="background-color:#152030;padding:16px 24px;text-align:center" class="rz-html-editor-cell-selected"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold">Quantmatix · US Sectors · 3 August 2026</p></td></tr></tbody></td></tr></tbody></table></td></tr></table></table></tr></table></td></tr></tbody></table></td></tr></tbody></table>

Quantmatix — European Equities: The Benchmarks Stall at the Ceiling as Breadth Turns Negative <table style="background-color:#1a1a1a"> <tr><td style="padding:20px 0"> <table style="max-width:600px"> <tr><td style="background-color:#152030;padding:22px 24px 18px 24px;border-bottom:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#8fa3bd;font-family:Arial,sans-serif;font-size:9.5px;font-weight:bold;letter-spacing:2px;text-transform:uppercase">Quantmatix · European Equity Market, Indices & Sectors · Institutional Research</p> <p style="margin:0 0 8px 0;color:#ffffff;font-family:Arial,sans-serif;font-size:19px;font-weight:bold;line-height:1.3">European Equities: The Benchmarks Stall at the Ceiling as Breadth Turns Negative</p> <p style="margin:0;padding-top:8px;border-top:1px solid #2a3a4d;color:#8fa3bd;font-family:Arial,sans-serif;font-size:10px">10 Jul 2026 · Weekly Signal-Based Market Review · Liam Boggan, CEO & Founder, Head of Research, Quantmatix</p> </td></tr> <tr><td style="background-color:#202020;padding:18px 24px;border-left:3px solid #DEDC04"> <p style="margin:0 0 10px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">The major indices — the Euro Stoxx 50, Stoxx 600 and CAC 40 — are flashing <span style="color:#ff9900;font-weight:bold">Q Signal ceiling warnings</span> even as they hold near their highs, and beneath them more shares are now falling than rising. Yet unlike the US, Europe still produced a handful of fresh top-conviction signals this week.</p> <p style="margin:0 0 10px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">European equities closed the week net <span style="color:#ff6666;font-weight:bold">Declining</span> — <span style="color:#ffffff;font-weight:bold">1,112 of 2,367</span> scored names Advancing against 1,255 Declining (just 47%), average Q Score <span style="color:#ffffff;font-weight:bold">+1.09</span> — a weaker tape than the US, with the major benchmarks stalling right at the ceiling.</p> <p style="margin:0 0 10px 0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><span style="color:#ffffff;font-weight:bold">The positive read.</span> Of the 82 Deep Positive Reversals in the book, the clusters sit in Industrials (14, led by Capital Goods), Financials (11, mostly diversified financials) and Real Estate (9, REITs turning up from washed-out levels), with more in Materials and Retailing. And unlike the US, Europe produced six fresh Top Quantmatix signals this week — its highest-conviction classification tier is still active — led by Kalmar, SSE and Incap. With Top Quantmatix present, the strongest signal reads come from that tier first, then TEVO, our Expected Value Outcome signal (WH Smith, KION Group and Mondi).</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7"><span style="color:#ffffff;font-weight:bold">The negative read.</span> The weakness is broad: fewer than half of all names are Advancing, and the major benchmarks — the Euro Stoxx 50, Stoxx 600 and CAC 40 — all carry Q Signal ceiling warnings, our earliest flag that a market is running into a top. Of the 45 negative Q Signals in the book, the heaviest clusters are in Financials (9), Industrials (6) and Consumer Discretionary (5). The 44 High Score Negative Reversals concentrate in Food, Beverage & Tobacco, Capital Goods and Diversified Financials — names such as Amundi, Aalberts and Lotus Bakeries turning down from stretched levels — while the FTSE 100 is outright Declining on a Negative Reversal. Energy, Information Technology and Materials are the weakest corners.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:22px 24px 4px 24px"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Highest Expected-Value Signal Reads — Top Quantmatix Tier</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:0 24px 6px 24px"> <p style="margin:0;color:#8f8f8f;font-family:Arial,sans-serif;font-size:10.5px">Six Top Quantmatix Positive signals confirmed this week — the model’s highest-conviction classification tier, which the US lacked this week. The top three by expected value are shown; the others are Solocal, Delko and Genova Property. Prices in local currency. Reference and downside-reference levels are model-generated data points — see disclaimer below.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:0 24px 16px 24px"> <table style="border-collapse:collapse;font-family:Arial,sans-serif"> <tr> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:7px 6px;border:1px solid #0d1620">Stock</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:right;padding:7px 6px;border:1px solid #0d1620">Exp. Value</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:right;padding:7px 6px;border:1px solid #0d1620">Q</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:right;padding:7px 6px;border:1px solid #0d1620">Close</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:right;padding:7px 6px;border:1px solid #0d1620">Ref. Level (freq.)</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:right;padding:7px 6px;border:1px solid #0d1620">Downside Ref.</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:right;padding:7px 6px;border:1px solid #0d1620">Earnings</th> </tr> <tr style="background-color:#16261c"> <td style="padding:8px 6px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Kalmar Oyj · KALMAR<br /><span style="background-color:#C8A84B;color:#152030;font-size:8px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;padding:2px 5px;border-radius:2px;display:inline-block;margin-top:3px">Top Quantmatix</span> <span style="color:#8fa3bd;font-weight:normal;font-size:10.5px">Industrials</span></td> <td style="padding:8px 6px;color:#66cc66;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+17.5%</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">−5.1</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">€37.56</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">€41.28 (75%)</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">€34.69</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">22 Jul</td> </tr><tr style="background-color:#182a20"> <td style="padding:8px 6px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Incap Oyj · ICP1V<br /><span style="background-color:#C8A84B;color:#152030;font-size:8px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;padding:2px 5px;border-radius:2px;display:inline-block;margin-top:3px">Top Quantmatix</span> <span style="color:#8fa3bd;font-weight:normal;font-size:10.5px">Cons. Disc. / Electronics</span></td> <td style="padding:8px 6px;color:#66cc66;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+9.2%</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">−4.1</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">€8.64</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">€9.31 (58%)</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">€8.01</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">30 Jul</td> <td style="padding:8px 6px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">SSE plc · SSE<br /><span style="background-color:#C8A84B;color:#152030;font-size:8px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;padding:2px 5px;border-radius:2px;display:inline-block;margin-top:3px">Top Quantmatix</span> <span style="color:#8fa3bd;font-weight:normal;font-size:10.5px">Utilities</span></td> <td style="padding:8px 6px;color:#66cc66;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+6.7%</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">−8.1</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">£24.26</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">£25.63 (67%)</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">£21.78</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">—</td> </tr></table> </td></tr><tr><td style="background-color:#1a1a1a;padding:8px 24px 2px 24px"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Additional High Expected-Value Signal Reads (TEVO)</p> <p style="margin:0;color:#8f8f8f;font-family:Arial,sans-serif;font-size:10.5px">Ranked by expected value. Reference levels shown are model output only. Prices in local currency.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:0 24px 8px 24px"> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:7px 6px;border:1px solid #0d1620">Sector</th> </td><td style="padding:8px 6px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">WH Smith · SMWH</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Consumer Discretionary</td> <td style="padding:8px 6px;color:#66cc66;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+20.6%</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">£4.68 (70%)</td> <td style="padding:8px 6px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">KION Group · KGX</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Industrials</td> <td style="padding:8px 6px;color:#66cc66;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+14.9%</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">−6.1</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">€44.88 (76%)</td> <td style="padding:8px 6px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Mondi · MNDI</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Materials</td> <td style="padding:8px 6px;color:#66cc66;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+10.7%</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">−8.4</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">£7.57 (74%)</td> <td style="padding:8px 6px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Davide Campari · CPR</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Consumer Staples</td> <td style="padding:8px 6px;color:#66cc66;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+8.2%</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">−5.6</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">€5.95 (74%)</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">27 Sep</td> <td style="padding:8px 6px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Österreichische Post · POST</td> <td style="padding:8px 6px;color:#66cc66;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+5.3%</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">−5.0</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">€33.19 (69%)</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">7 Aug</td> <td style="padding:8px 6px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Komerční banka · KOMB</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Financials</td> <td style="padding:8px 6px;color:#66cc66;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+3.8%</td> <td style="padding:8px 6px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">CZK 1,020 (70%)</td> </tr><tr><td style="background-color:#1a1a1a;padding:0 24px 20px 24px"> <p style="margin:0;color:#8f8f8f;font-family:Arial,sans-serif;font-size:10.5px;line-height:1.5">Expected value (TEVO — Expected Value Outcome) is the model’s probability-weighted return across its reference levels, from the data. Deep Positive Reversal = confirmed Advancing with a Q Score between −4 and −10.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:0 24px 2px 24px"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">European Equity Indices — Direction, Score & Position in Range</p> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Index</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:center;padding:8px 8px;border:1px solid #0d1620">Direction</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:right;padding:8px 8px;border:1px solid #0d1620">Q</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Signal</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:right;padding:8px 8px;border:1px solid #0d1620">To Resist.</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:right;padding:8px 8px;border:1px solid #0d1620">Above Supp.</th> </td><td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Euro Stoxx 50</td> <td style="padding:9px 8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">Advancing</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+6.3</td> <td style="padding:9px 8px;color:#ff9900;font-weight:bold;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Q Signal (ceiling)</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">3.0%</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">5.2%</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Stoxx 600</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+6.0</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">2.2%</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">4.4%</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">CAC 40</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+4.6</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">3.6%</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">3.7%</td> </tr><tr style="background-color:#2e1a1a"> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">DAX</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">Declining</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+3.7</td> <td style="padding:9px 8px;color:#8f8f8f;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">—</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">4.2%</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">4.7%</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">FTSE MIB (Italy)</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+8.7</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">2.3%</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">6.9%</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">IBEX 35 (Spain)</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+7.7</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">2.1%</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">6.2%</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Swiss Market Index</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+4.9</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">0.9%</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">6.5%</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">FTSE 100 (UK)</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">−1.0</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Negative Reversal</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">3.3%</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">4.0%</td> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">The tell is at the top of the market: the core Eurozone benchmarks — the Euro Stoxx 50 (+6.3), Stoxx 600 (+6.0) and CAC 40 (+4.6) — are all Advancing but carry Q Signal ceiling warnings, the model’s earliest sign a market is running into a top. The DAX and FTSE MIB have already turned Declining, and the FTSE 100 is Declining on an outright Negative Reversal. None of the benchmarks sits near support — each is still 3.7%–6.9% above it — so there is room to fall if the ceilings give way.</p> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Sectors Overview — Highest Expected-Value Reads by Sector</p> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620;width:20%">Sector</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:center;padding:8px 8px;border:1px solid #0d1620;width:16%">Conviction</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Highest Expected-Value Reads</th> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Industrials</td> <td style="padding:9px 8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">Positive</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;line-height:1.5;border:1px solid #2a2a2a;vertical-align:top">Biggest sector and the most Deep Positive Reversals (14). Kalmar (Top Quantmatix, +17.5%), KION Group (+14.9%) and Österreichische Post (+5.3%) lead on expected value.</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Financials</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;line-height:1.5;border:1px solid #2a2a2a;vertical-align:top">Highest average score, but the most Q Signal ceilings (9) — Advancing yet maturing. Komerční banka leads on expected value; Amundi is a High Score Negative Reversal.</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Real Estate</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;line-height:1.5;border:1px solid #2a2a2a;vertical-align:top">Turning up from washed-out levels (average Q −0.95) with 9 Deep Positive Reversals and no High Score Negative Reversals; Genova Property is a Top Quantmatix name.</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Consumer Discretionary</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;line-height:1.5;border:1px solid #2a2a2a;vertical-align:top">WH Smith (+20.6%, the highest expected value on the board) and Björn Borg head the list; balanced breadth.</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Materials</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">Weak</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;line-height:1.5;border:1px solid #2a2a2a;vertical-align:top">Weak breadth (a third Advancing), but Mondi (+10.7%) is a standout deep reversal.</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Consumer Staples</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">Negative</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;line-height:1.5;border:1px solid #2a2a2a;vertical-align:top">A High Score Negative Reversal cluster in Food, Beverage & Tobacco (Lotus Bakeries); Davide Campari (+8.2%) is the positive exception.</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Information Technology</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;line-height:1.5;border:1px solid #2a2a2a;vertical-align:top">Weakest breadth of all (only 30% Advancing); few constructive signals.</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Energy</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;line-height:1.5;border:1px solid #2a2a2a;vertical-align:top">The weakest sector — a quarter Advancing, no Deep Positive Reversals, three High Score Negative Reversals.</td> </tr><tr style="background-color:#232323"> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Health Care / Utilities</td> <td style="padding:9px 8px;color:#8fa3bd;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">Neutral</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;line-height:1.5;border:1px solid #2a2a2a;vertical-align:top">Mixed and mid-range; SSE (Utilities) is a Top Quantmatix name, Ion Beam Applications a health-care reversal down.</td> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Where Leadership Is Tiring — High Score Negative Reversals</p> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Stock</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Sector</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Note</th> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Telecom Italia · TIT</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Communication Services</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+9.1</td> <td style="padding:9px 8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Most stretched name to confirm a negative reversal.</td> </tr><tr style="background-color:#2e2318"> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Amundi · AMUN</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Financials</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+8.6</td> <td style="padding:9px 8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Europe’s largest asset manager rolling over from a high.</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Aalberts · AALB</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Industrials</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:right;border:1px solid #2a2a2a;vertical-align:top">+8.4</td> <td style="padding:9px 8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Capital-goods name turning down from a stretched reading.</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Lotus Bakeries · LOTB</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Consumer Staples</td> <td style="padding:9px 8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Anchors the Food, Beverage & Tobacco cluster turning down.</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Ion Beam Applications · IBAB</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Health Care</td> <td style="padding:9px 8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Stretched health-care name confirming a turn lower.</td> </tr><tr><td style="background-color:#202020;padding:16px 24px;border-left:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10.5px;font-weight:bold;letter-spacing:1px;text-transform:uppercase">Closing Signal Summary</p> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">Europe is the weaker of the two markets this week — net Declining, with the major benchmarks stalling at the ceiling on Q Signal warnings — but, unlike the US, its highest-conviction tier is still active: six fresh Top Quantmatix signals, led by Kalmar (+17.5%), Incap (+9.2%) and SSE (+6.7%). The strongest expected-value signal reads beneath them are WH Smith (+20.6%), KION Group (+14.9%) and Mondi (+10.7%), and the constructive clusters are in Industrials, Financials and beaten-down Real Estate. On the cautionary side, the High Score Negative Reversals gather in Food & Beverage, Capital Goods and Diversified Financials — Amundi, Aalberts and Lotus Bakeries among them — and Energy, Information Technology and Materials remain the weakest corners. Net: a tiring, narrowing European market where the index-level ceilings argue for caution, while the highest-conviction signal tier remains active for names screened individually.</p> </td></tr><tr><td style="background-color:#141414;padding:16px 24px;border-top:1px solid #2a2a2a"> <p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"> <strong style="color:#aaaaaa">Important Notice:</strong> This report is produced by Quantmatix and is intended solely for institutional and professional investors. It is provided for informational purposes only and does not constitute investment advice, a personal recommendation, or an offer or solicitation to buy or sell any financial instrument. References to markets, sectors and individual instruments — including Q Scores, Q Signals, Conviction Positive and Conviction Negative signals, Deep Positive Reversals, High Score Negative Reversals, Negative Reversals, TEVO (Expected Value Outcome) signals, Top Quantmatix signals and Advancing/Declining status — describe the output of our proprietary models and are identical for all recipients; they do not take into account any recipient’s individual investment objectives, financial situation or needs. Prices are shown in local currency. Expected value, reference price levels, model-computed reversal frequencies and downside-reference levels are model-generated data points only and are not forecasts, price targets, or recommendations to transact. Company earnings dates are drawn from public corporate calendars and are subject to change. Recipients should conduct independent due diligence and seek advice from a qualified financial adviser before making any investment decision. This communication has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of its dissemination. All data reflects the most recent weekly Quantmatix scoring run to Friday 10 July 2026 and is subject to change. Past signal performance is not indicative of future results. Quantmatix is not authorised to provide investment advice under MiFID II. All data sourced from Quantmatix proprietary systems. © 2026 Quantmatix Limited. All rights reserved. </p> <p style="margin:0;padding-top:8px;border-top:1px solid #262626;color:#6f6f6f;font-family:Arial,sans-serif;font-size:8.5px;line-height:1.6"> Methodology: Q Score, Advancing/Declining status, Deep Positive Reversal, High Score Negative Reversal, Negative Reversal, Q Signal, TEVO (Expected Value Outcome) and Top Quantmatix classifications follow the standard Quantmatix sector- and stock-level scoring framework exactly, based on the weekly scoring run to Friday 10 July 2026. Methodology available on request. <tr><td style="background-color:#152030;padding:16px 24px;text-align:center"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold">Quantmatix · European Equity Market, Indices & Sectors · Week Ended 10 July 2026</p> </td></tr></p></td></tr></table></td></tr></table>

Quantmatix — Half-Year Tactical Asset Allocation Update: H2 2026 <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <br /><table style="max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:22px 24px 18px 24px;border-bottom:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#8fa3bd;font-family:Arial,sans-serif;font-size:9.5px;font-weight:bold;letter-spacing:2px;text-transform:uppercase">Quantmatix · Global Macro & Tactical Asset Allocation · Institutional Research</p><p style="margin:0 0 6px 0;color:#8fa3bd;font-family:Arial,sans-serif;font-size:9.5px;font-weight:bold;letter-spacing:2px;text-transform:uppercase"><br /></p><p style="margin:0px 0px 6px"><span style="font-family:Arial, sans-serif;font-size:14.4px;font-weight:700;letter-spacing:2px;text-transform:uppercase;color:rgb(255, 253, 253)">Half-Year Tactical Asset Allocation Update</span></p> </td></tr> <tr><td style="background-color:#202020;padding:18px 24px;border-left:3px solid #DEDC04"> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">The mid-year mark is a natural point to reset tactical positioning, and the Quantmatix data is unusually direct about where conviction currently sits. Breadth across the global signal set is close to a coin-flip, but the reversal signals underneath are not neutral: <span style="color:#ffffff;font-weight:bold">High Score Negative Reversals meaningfully outnumber Deep Positive Reversals</span>, concentrated in specific, identifiable pockets rather than spread market-wide. That is the signature of a long, mature advance cracking at its most extended edges — not a market rolling over. The clearest signal heading into H2 is duration: sovereign bond yields are <span style="color:#ff6666;font-weight:bold">Declining</span> broadly while every credit and duration ETF category we track is <span style="color:#66cc66;font-weight:bold">Advancing</span> with the fastest-improving momentum in the data set. Europe is the strongest equity region on breadth. The crowded winners of the first half — US Value, global Semiconductors — are exactly where the negative reversals are concentrating.</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:22px 24px 4px 24px"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Preferred Asset Classes — H2 2026</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:0 24px 16px 24px"> <table style="border-collapse:collapse;font-family:Arial,sans-serif"> <tbody><tr> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Asset Class</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:center;padding:8px 8px;border:1px solid #0d1620">Advancing</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Signal Read</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:center;padding:8px 8px;border:1px solid #0d1620">Positioning</th> </tr> <tr style="background-color:#16261c"> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Fixed Income — Credit & Duration ETFs</td> <td style="padding:9px 8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">94%</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Fastest-improving momentum of any group; </td> <td style="padding:9px 8px;text-align:center;border:1px solid #2a2a2a;vertical-align:top"><span style="background-color:#C8A84B;color:#152030;font-size:9.5px;font-weight:bold;letter-spacing:0.4px;text-transform:uppercase;padding:3px 7px;border-radius:2px;display:inline-block">Max Overweight</span></td> </tr><tr style="background-color:#182a20"> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Europe Equities</td> <td style="padding:9px 8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">72%</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Broadest positive breadth of any region; core firm, Italy/CEE periphery diverging</td> <td style="padding:9px 8px;text-align:center;border:1px solid #2a2a2a;vertical-align:top"><span style="background-color:#0E5F9D;color:#ffffff;font-size:9.5px;font-weight:bold;letter-spacing:0.4px;text-transform:uppercase;padding:3px 7px;border-radius:2px;display:inline-block">Overweight</span></td> </tr><tr style="background-color:#152a2c"> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">US Sectors (rotation)</td> <td style="padding:9px 8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">61%</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Utilities firing fresh Deep Positive Reversals; Semiconductors firing High Score Negative Reversals</td> <td style="padding:9px 8px;text-align:center;border:1px solid #2a2a2a;vertical-align:top"><span style="background-color:#1a6b7a;color:#ffffff;font-size:9.5px;font-weight:bold;letter-spacing:0.4px;text-transform:uppercase;padding:3px 7px;border-radius:2px;display:inline-block">Neutral Positive</span></td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">US Dollar / Currencies</td> <td style="padding:9px 8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">63%</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Broad Dollar firmness confirmed across the US Dollar Index Future and a majority of USD-base crosses</td> </tr><tr style="background-color:#26261a"> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">US Equities — Broad</td> <td style="padding:9px 8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">58%</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Most extended average score in the data set; cracks isolated to the Value factor so far</td> <td style="padding:9px 8px;text-align:center;border:1px solid #2a2a2a;vertical-align:top"><span style="background-color:#8a7a3a;color:#ffffff;font-size:9.5px;font-weight:bold;letter-spacing:0.4px;text-transform:uppercase;padding:3px 7px;border-radius:2px;display:inline-block">Neutral Negative</span></td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Commodities — Agriculture</td> <td style="padding:9px 8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">38%</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Prior strength unwinding — Bull Unwind read</td> </tr><tr style="background-color:#2e2318"> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Asia / EM Equities</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">36%</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Weakest major equity region; High Score Negative Reversals concentrated in Japan, Taiwan, Korean financials</td> <td style="padding:9px 8px;text-align:center;border:1px solid #2a2a2a;vertical-align:top"><span style="background-color:#b8622a;color:#ffffff;font-size:9.5px;font-weight:bold;letter-spacing:0.4px;text-transform:uppercase;padding:3px 7px;border-radius:2px;display:inline-block">Underweight</span></td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Rest-of-World Developed & Thematic</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">38%</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">EAFE, Australia/Canada/Hong Kong/New Zealand and global thematic funds all sub-40% Advancing</td> </tr><tr style="background-color:#2e1a1a"> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Commodities — Metals (incl. gold, silver)</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">12%</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Weakest average conviction score of any group; precious metals stalling near support</td> <td style="padding:9px 8px;text-align:center;border:1px solid #2a2a2a;vertical-align:top"><span style="background-color:#8b1a1a;color:#ffffff;font-size:9.5px;font-weight:bold;letter-spacing:0.4px;text-transform:uppercase;padding:3px 7px;border-radius:2px;display:inline-block">Max Underweight</span></td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Commodities — Energy</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">11%</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Fastest-deteriorating momentum of any group in the data set</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Digital Assets / Crypto</td> <td style="padding:9px 8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">8%</td> <td style="padding:9px 8px;color:#cccccc;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Broadly Declining; Bitcoin-proxy ETFs and miner-linked equities almost uniformly negative</td> </tr></tbody></table> </td></tr><tr><td style="background-color:#1a1a1a;padding:22px 24px 2px 24px"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Equity Indices by Region</p> </td></tr><tr><td style="background-color:#1a1a1a;padding:0 24px 6px 24px"> <p style="margin:0;color:#8f8f8f;font-family:Arial,sans-serif;font-size:10.5px">Major national and regional benchmarks behind the regional calls above — Advancing/Declining and Q Score as of the snapshot date.</p> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Region</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Index</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:center;padding:8px 8px;border:1px solid #0d1620">Direction</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:center;padding:8px 8px;border:1px solid #0d1620">Q Score</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Note</th> </td><td style="padding:8px;color:#8fa3bd;font-size:9.5px;text-transform:uppercase;letter-spacing:0.3px;font-weight:bold;border:1px solid #2a2a2a;vertical-align:top">Europe</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">IBEX 35 (Spain)</td> <td style="padding:8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">Advancing</td> <td style="padding:8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+7.7</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Strongest headline index in the region</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Euro Stoxx 50</td> <td style="padding:8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+6.1</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Core eurozone benchmark holding firm</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Swiss Market Index</td> <td style="padding:8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+4.4</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Defensive-tilted market, Advancing</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">AEX Index (Netherlands)</td> <td style="padding:8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+6.4</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Core exposure, Advancing</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">DAX Index (Germany)</td> <td style="padding:8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+4.1</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">CAC 40 (France)</td> <td style="padding:8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+3.7</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">FTSE 100 Index (UK)</td> <td style="padding:8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+0.0</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Flat score but a confirmed positive reversal</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">FTSE MIB (Italy)</td> <td style="padding:8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">Declining</td> <td style="padding:8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+8.0</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">High Score Negative Reversal — periphery divergence</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Warsaw / WIG (Poland)</td> <td style="padding:8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+7.6</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">High Score Negative Reversal — CEE divergence</td> <td style="padding:8px;color:#8fa3bd;font-size:9.5px;text-transform:uppercase;letter-spacing:0.3px;font-weight:bold;border:1px solid #2a2a2a;vertical-align:top">Asia / EM</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">China CSI 300</td> <td style="padding:8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+6.0</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Relative bright spot within a weak region</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Singapore (STI)</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Advancing, no reversal risk flagged</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">SENSEX (India)</td> <td style="padding:8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">-1.1</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Advancing but low conviction</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Nikkei 225 (Japan)</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">High Score Negative Reversal — sharpest in the region</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Tokyo (Topix, Japan)</td> <td style="padding:8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+4.3</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Broad Japan weakness alongside the Nikkei</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Korea (Kospi 200)</td> <td style="padding:8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+6.4</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Negative reversal; financials sub-index carries the High Score flag</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Hang Seng (Hong Kong)</td> <td style="padding:8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">-4.9</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Declining, weak conviction</td> <td style="padding:8px;color:#8fa3bd;font-size:9.5px;text-transform:uppercase;letter-spacing:0.3px;font-weight:bold;border:1px solid #2a2a2a;vertical-align:top">US</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Russell 2000</td> <td style="padding:8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+9.6</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Small-cap breadth is the strongest signal in US equities</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">S&P Mid Cap 400</td> <td style="padding:8px;color:#66cc66;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+8.7</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Mid-cap breadth also strong</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Dow Jones Industrial Average</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Advancing, core large-cap benchmark</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">S&P 500</td> <td style="padding:8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+4.7</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Negative reversal building but below the High Score threshold</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Russell 1000 Value</td> <td style="padding:8px;color:#ff6666;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+8.1</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">High Score Negative Reversal — the clearest crack in US equities</td> <td style="padding:8px;color:#8fa3bd;font-size:9.5px;text-transform:uppercase;letter-spacing:0.3px;font-weight:bold;border:1px solid #2a2a2a;vertical-align:top">Other Developed</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">S&P/ASX 50 (Australia)</td> <td style="padding:8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">-1.3</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">S&P/TSX (Canada)</td> <td style="padding:8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+3.9</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Declining, negative reversal building</td> <td style="padding:8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">New Zealand (NZX)</td> <td style="padding:8px;color:#d9d9d9;font-weight:bold;font-size:13px;text-align:center;border:1px solid #2a2a2a;vertical-align:top">+3.3</td> <td style="padding:8px;color:#cccccc;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Advancing, modest conviction</td> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px"><br /></p><p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase;border-bottom:1px solid #333333;padding-bottom:6px">Preferred Instruments by Asset Class</p> <p style="margin:0;color:#8f8f8f;font-family:Arial,sans-serif;font-size:10.5px">Signal data only — Q Score shown for each instrument. See disclaimer below.</p> </tr><tr><td style="background-color:#1a1a1a;padding:0 24px 20px 24px"> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620;width:26%">Asset Class</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620">Preferred Instruments (Q Score)</th> <th style="background-color:#152030;color:#DEDC04;font-size:9px;letter-spacing:0.6px;text-transform:uppercase;text-align:left;padding:8px 8px;border:1px solid #0d1620;width:30%">Caution</th> </td><td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Fixed Income — Credit & Duration</td> <td style="padding:9px 8px;color:#d9d9d9;font-size:13px;line-height:1.7;border:1px solid #2a2a2a;vertical-align:top"> <span style="color:#ffffff;font-weight:bold">iShares $ Corp Bond UCITS ETF</span> <span style="color:#66cc66;font-weight:bold">Q +7.9</span><br /> <span style="color:#ffffff;font-weight:bold">iShares Short-Term National Muni Bond ETF</span> <span style="color:#66cc66;font-weight:bold">Q +5.1</span><br /> <span style="color:#ffffff;font-weight:bold">iShares 20+ Year Treasury Bond ETF</span> <span style="color:#66cc66;font-weight:bold">Q +1.9</span> — fastest-accelerating in the group </td> <td style="padding:9px 8px;color:#e0b84d;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">—</td> <span style="color:#ffffff;font-weight:bold">iShares MSCI Ireland ETF</span> <span style="color:#66cc66;font-weight:bold">Q +9.1</span><br /> <span style="color:#ffffff;font-weight:bold">iShares MSCI Eurozone ETF</span> <span style="color:#66cc66;font-weight:bold">Q +7.6</span> — core exposure<br /> <span style="color:#ffffff;font-weight:bold">State Street SPDR EURO STOXX 50 ETF</span> <span style="color:#66cc66;font-weight:bold">Q +7.3</span> <td style="padding:9px 8px;color:#e0b84d;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Italy and Polish/CEE-linked exposure (Ftse MIB, Warsaw, WIG 40, Stoxx Italy 45) carrying High Score Negative Reversals</td> <span style="color:#ffffff;font-weight:bold">Health Care Serv (SPDR S&P)</span> <span style="color:#66cc66;font-weight:bold">Q +10.0</span> — highest score in the data set<br /> <span style="color:#ffffff;font-weight:bold">iShares U.S. Transportation ETF</span> <span style="color:#66cc66;font-weight:bold">Q +9.1</span><br /> <span style="color:#ffffff;font-weight:bold">Utilities (SPDR Select)</span> & <span style="color:#ffffff;font-weight:bold">iShares US Utilities ETF</span> — fresh Deep Positive Reversals <td style="padding:9px 8px;color:#e0b84d;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Semiconductor and Technology sector ETFs (VanEck, iShares, SPDR) carrying High Score Negative Reversals</td> <span style="color:#ffffff;font-weight:bold">Invesco DB US Dollar Index Bullish Fund</span> <span style="color:#66cc66;font-weight:bold">Q +8.0</span><br /> <span style="color:#ffffff;font-weight:bold">US Dollar Index Future</span> <span style="color:#66cc66;font-weight:bold">Q +4.7</span> <span style="color:#ffffff;font-weight:bold">iShares Russell 2000 ETF</span> <span style="color:#66cc66;font-weight:bold">Q +9.4</span><br /> <span style="color:#ffffff;font-weight:bold">S&P Mid Cap 400</span> <span style="color:#66cc66;font-weight:bold">Q +8.7</span><br /> <span style="color:#ffffff;font-weight:bold">iShares MSCI USA Momentum Factor</span> <span style="color:#66cc66;font-weight:bold">Q +8.6</span> <td style="padding:9px 8px;color:#e0b84d;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Russell 1000 Value and iShares MSCI USA Value Factor both carrying High Score Negative Reversals</td> <span style="color:#ffffff;font-weight:bold">iShares MSCI Thailand ETF</span> <span style="color:#66cc66;font-weight:bold">Q +8.1</span><br /> <span style="color:#ffffff;font-weight:bold">iShares MSCI Singapore ETF</span> <span style="color:#66cc66;font-weight:bold">Q +6.7</span> — positive reversal confirmed<br /> <span style="color:#ffffff;font-weight:bold">China CSI 300</span> <span style="color:#66cc66;font-weight:bold">Q +6.0</span> <td style="padding:9px 8px;color:#e0b84d;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Nikkei 225, Tokyo Topix, iShares MSCI Kokusai, iShares MSCI Taiwan and Korean financials all carrying High Score Negative Reversals</td> <span style="color:#ffffff;font-weight:bold">iShares Currency Hedged MSCI EAFE ETF</span> <span style="color:#66cc66;font-weight:bold">Q +7.0</span> — strongest signal in an otherwise weak group <td style="padding:9px 8px;color:#e0b84d;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Broad group signal quality too weak for a core allocation</td> <td style="padding:9px 8px;color:#999999;font-size:13px;font-style:italic;border:1px solid #2a2a2a;vertical-align:top">No instrument currently qualifies</td> <td style="padding:9px 8px;color:#e0b84d;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Prior strength unwinding across the complex</td> <td style="padding:9px 8px;color:#ffffff;font-weight:bold;font-size:13px;border:1px solid #2a2a2a;vertical-align:top">Commodities — Metals</td> <td style="padding:9px 8px;color:#e0b84d;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Gold and silver stalling near support — a stabilisation watch-item, not a current holding</td> <span style="color:#ffffff;font-weight:bold">United States Natural Gas Fund LP</span> <span style="color:#66cc66;font-weight:bold">Q +2.6</span> — the only clearly Advancing signal in an otherwise deteriorating complex <td style="padding:9px 8px;color:#e0b84d;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Crude, gas oil and heating oil futures all Declining with fast-deteriorating momentum</td> <td style="padding:9px 8px;color:#e0b84d;font-size:12px;border:1px solid #2a2a2a;vertical-align:top">Broadly Declining across Bitcoin-proxy ETFs and miner-linked equities</td> </tr><tr><td style="background-color:#202020;padding:16px 24px;border-left:3px solid #DEDC04"> <p style="margin:0;color:#d9d9d9;font-family:Arial,sans-serif;font-size:13px;line-height:1.7">None of this is a call to chase the first half's winners or to short its laggards outright. It is a description of where the Quantmatix data currently shows conviction building and conviction fading heading into H2. Duration and Europe carry the data's confidence right now; the most extended pockets of the first-half advance — US Value, Semiconductors, precious metals — are the ones the reversal signals are watching most closely.</p> </td></tr><tr><td style="background-color:#141414;padding:16px 24px;border-top:1px solid #2a2a2a"> <p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"><strong style="color:#aaaaaa"><br /></strong></p><p style="margin:0 0 8px 0;color:#8a8a8a;font-family:Arial,sans-serif;font-size:9.5px;line-height:1.65"> <strong style="color:#aaaaaa">Important Notice:</strong> This report is produced by Quantmatix and is intended solely for institutional and professional investors. It is provided for informational purposes only and does not constitute investment advice, a personal recommendation, or an offer or solicitation to buy or sell any financial instrument. Signal and momentum data reflects proprietary algorithmic analysis of the instruments named and is not a guarantee of future performance. Past performance is not indicative of future results. Asset-class groupings are proprietary Quantmatix classifications for tactical asset allocation research and may differ from standard index or GICS taxonomies. “Preferred Instruments” reflect current Quantmatix signal strength only, are not ranked or suitability-screened for any individual recipient, and are not a recommendation to transact. Recipients should conduct independent due diligence and seek advice from a qualified financial adviser before making any investment decision. This communication has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of its dissemination. All data sourced from Quantmatix proprietary systems, snapshot dated 1 Jul 2026. <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/00a9.png?v=61548701430" class="not-responsive emoji emoji-android emoji--copyright" style="height:23px;width:auto;vertical-align:middle" title="©" alt="©" /> 2026 Quantmatix Limited. All rights reserved. </p> <p style="margin:0;padding-top:8px;border-top:1px solid #262626;color:#6f6f6f;font-family:Arial,sans-serif;font-size:8.5px;line-height:1.6"> Methodology: Advancing/Declining and Positive/Negative Reversal figures are taken directly from Quantmatix signal data (single-day snapshot). The Improving/Deteriorating, Fast/Slow input used to derive each State is approximated from the mean daily Q Score change across each asset-class group, since a multi-day breadth history was not available for this note; State and Action definitions otherwise follow the standard Quantmatix sector-positioning framework exactly. An illiquid microcap name was excluded from the underlying data set as non-representative. <tr><td style="background-color:#152030;padding:16px 24px;text-align:center"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold">Quantmatix · Global Macro & Tactical Asset Allocation · 1 July 2026</p></td></tr></p></td></tr></tbody></table></td></tr></tbody></table>

QM US Market Intelligence — 20 Jun 2026 <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <table style="max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:28px 36px"> <p style="margin:0 0 6px 0;color:#888888;font-family:Arial,sans-serif;font-size:10px;letter-spacing:3px;text-transform:uppercase">Quantmatix · US Market Intelligence · Institutional Research</p> <h1 style="margin:0 0 14px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:17px;font-weight:bold;line-height:1.4">Momentum at a Tipping Point: Positive and Negative Signals Nearly Equal, Accelerating Breadth Converging — Stock Selection Is Now the Only Edge</h1> <table style="border-top:1px solid #2a4060;padding-top:14px"> <tbody><tr> <td style="text-align:center;padding:0 4px"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:22px;font-weight:bold;line-height:1">51</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">New Deep Pos. Rev.</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">vs 176 active prior wk</div> </td> <td style="text-align:center;padding:0 4px;border-left:1px solid #2a4060"> <div style="color:#C8A84B;font-family:Arial,sans-serif;font-size:22px;font-weight:bold;line-height:1">1</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">New Top Q+</div> <div style="color:#C8A84B;font-family:Arial,sans-serif;font-size:9px;font-weight:bold;margin-top:2px">BEPC — Utilities</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:22px;font-weight:bold;line-height:1">23</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">TEVO Signals</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">vs 26 prior week</div> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:22px;font-weight:bold;line-height:1">58</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">New High Score Neg Rev</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">vs 105 active prior wk</div> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:22px;font-weight:bold;line-height:1">7</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">Top Q Negative</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">vs 13 prior week</div> </td></tr> </tbody></table> </td></tr> <tr><td style="background-color:#252015;padding:10px 36px;border-left:3px solid #C8A84B"> <p style="margin:0;font-family:Arial,sans-serif;font-size:10px;color:#C8A84B;line-height:1.6">ⓘ US equity markets closed Friday 19 June 2026 (Juneteenth). All signal counts reflect new signals confirmed this week only (COB Thursday 18 June). Index levels (SPX, RIY, OEX, MID) carried forward from the 3 June 2026 reference. Pending row omitted — Saturday publication.</p> </td></tr><tr><td style="background-color:#1f1f1f;padding:28px 36px"> <p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">Market Intelligence — New Signals, COB Thursday 18 Jun 2026</p> <p style="margin:0;color:#cccccc;font-family:Arial,sans-serif;font-size:12px;line-height:1.7">Momentum has reached a tipping point. Fifty-eight new High Score Negative Reversals against 51 new Deep Positive Reversals — the gap is narrow and the direction of travel is unambiguous. More critically, the proportion of names with accelerating positive momentum and accelerating negative momentum is now converging: the universe is no longer a positive tape with pockets of weakness, it is a bifurcated tape where stock selection is the only edge available. Broad index exposure is not supported. Five of seven MAG7 names confirmed Declining at Thursday’s close, every one at or below mid-band. Real Estate has tipped hardest: 14 new High Score Negative Reversals this week as buyers stepped away from names that had been elevated for weeks, Advancing breadth collapsing from 72% to 30% in a single bar. Industrials is rotating internally — 13 new negative and 9 new positive reversals simultaneously — not a sector to take broad positions in either direction. Two sectors stand apart positively. Utilities fired five new Deep Positive Reversals and the only new Top Quantmatix Positive in the entire universe (BEPC). Health Care posted nine new Deep Positive Reversals — the second-highest positive count in the universe this week — with two new Trend Exhaustion signals and an Advancing breadth picture that is moving in the right direction. Both sectors carry Neutral Positive positioning; neither is a broad index trade, but they are where the signal quality is concentrating. Energy has now produced zero new Deep Positive Reversals in two consecutive weeks.</p> </td></tr><tr><td style="background-color:#2a2a2a;padding:0"> <table style="background-color:#152030"> <tbody><tr> <td style="padding:12px 20px"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold">★ Signal Ideas — Highest Quality New Signals · Week of 15–18 Jun 2026</div> <div style="color:rgba(255,255,255,0.55);font-family:Arial,sans-serif;font-size:9px;margin-top:4px;line-height:1.5">One new Top Quantmatix Positive (BEPC) and two new Trend Exhaustion signals (OPCH, SHW) with Advancing momentum and targets not yet reached. Sectors: Utilities (Neutral Positive), Health Care (Neutral Positive), Materials (Neutral Positive). Signal data only — see disclaimer.</div> </td><td style="padding:12px 16px;text-align:right;white-space:nowrap"> <table> <td style="padding:0 8px;text-align:center"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">3</div> <div style="color:rgba(255,255,255,0.45);font-family:Arial,sans-serif;font-size:7px;text-transform:uppercase;letter-spacing:0.5px;margin-top:2px">Ideas</div> </td><td style="padding:0 8px;text-align:center;border-left:1px solid #2a4060"> <div style="color:#C8A84B;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">1</div> <div style="color:rgba(255,255,255,0.45);font-family:Arial,sans-serif;font-size:7px;text-transform:uppercase;letter-spacing:0.5px;margin-top:2px">Top Q+</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">2</div> <div style="color:rgba(255,255,255,0.45);font-family:Arial,sans-serif;font-size:7px;text-transform:uppercase;letter-spacing:0.5px;margin-top:2px">TEVO</div> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:10px"> <thead> <tr style="background-color:#152030"> <th style="padding:6px 10px;text-align:left;color:rgba(255,255,255,0.7);font-size:7px;letter-spacing:1px;text-transform:uppercase;border-bottom:1px solid #2a4060">Stock</th> <th style="padding:6px 10px;text-align:center;color:rgba(255,255,255,0.7);font-size:7px;letter-spacing:1px;text-transform:uppercase;border-bottom:1px solid #2a4060">Signal</th> <th style="padding:6px 10px;text-align:right;color:rgba(255,255,255,0.7);font-size:7px;letter-spacing:1px;text-transform:uppercase;border-bottom:1px solid #2a4060">Q Score</th> <th style="padding:6px 10px;text-align:right;color:rgba(255,255,255,0.7);font-size:7px;letter-spacing:1px;text-transform:uppercase;border-bottom:1px solid #2a4060">Accel/Wk</th> <th style="padding:6px 10px;text-align:right;color:rgba(255,255,255,0.7);font-size:7px;letter-spacing:1px;text-transform:uppercase;border-bottom:1px solid #2a4060">Close</th> <th style="padding:6px 10px;text-align:right;color:rgba(255,255,255,0.7);font-size:7px;letter-spacing:1px;text-transform:uppercase;border-bottom:1px solid #2a4060">Target (TP1)</th> <th style="padding:6px 10px;text-align:right;color:rgba(255,255,255,0.7);font-size:7px;letter-spacing:1px;text-transform:uppercase;border-bottom:1px solid #2a4060">Support (SL)</th> <th style="padding:6px 10px;text-align:right;color:rgba(255,255,255,0.7);font-size:7px;letter-spacing:1px;text-transform:uppercase;border-bottom:1px solid #2a4060">Earnings</th> <th style="padding:6px 10px;text-align:right;color:rgba(255,255,255,0.7);font-size:7px;letter-spacing:1px;text-transform:uppercase;border-bottom:1px solid #2a4060">Est. Value</th> </tr></thead> <tbody> <tr style="background-color:#252015"> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle"> <div style="font-size:14px;font-weight:bold;color:#ffffff;line-height:1">BEPC</div> <div style="font-size:8px;color:#888888;margin-top:2px">Brookfield Renewable Corp — Utilities</div> </td><td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:center"> <span style="background-color:#C8A84B;color:#ffffff;font-size:7px;font-weight:bold;border-radius:2px;letter-spacing:0.5px;text-transform:uppercase;padding:2px 7px;white-space:nowrap">★ Top Q+</span><br /> <span style="font-size:7px;color:#888888;display:block;margin-top:3px">THU 18 JUN</span> </td><td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right"><span style="color:#66cc66;font-weight:bold;font-size:13px">−6.57</span></td> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right"><span style="color:#66cc66;font-weight:bold">+0.714 ↑</span></td> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right;font-weight:bold;color:#ffffff">$37.42</td> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right;font-weight:bold;color:#66cc66">$40.38</td> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right;font-weight:bold;color:#ff6666">$33.58</td> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right;color:#ff9900;font-size:10px">31 Jul</td> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right"> <div style="font-weight:bold;font-size:16px;color:#DEDC04">7.9%</div> <div style="height:4px;border-radius:2px;background-color:#DEDC04;width:74px;margin:3px 0 0 auto"></div> </td></tr><tr style="background-color:#1f1f1f"> <div style="font-size:14px;font-weight:bold;color:#ffffff;line-height:1">OPCH</div> <div style="font-size:8px;color:#888888;margin-top:2px">Option Care Health — Health Care</div> <span style="background-color:#152030;color:#DEDC04;font-size:7px;font-weight:bold;border-radius:2px;letter-spacing:0.5px;text-transform:uppercase;padding:2px 7px;white-space:nowrap">TEVO</span><br /> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right"><span style="color:#66cc66;font-weight:bold;font-size:13px">−8.57</span></td> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right"><span style="color:#66cc66;font-weight:bold">+0.857 ↑</span></td> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right;font-weight:bold;color:#ffffff">$21.99</td> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right;font-weight:bold;color:#66cc66">$23.91</td> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right;font-weight:bold;color:#ff6666">$18.15</td> <td style="padding:10px 10px;border-bottom:1px solid #333333;vertical-align:middle;text-align:right;color:#ff9900;font-size:10px">29 Jul</td> <div style="font-weight:bold;font-size:16px;color:#DEDC04">8.7%</div> <div style="height:4px;border-radius:2px;background-color:#DEDC04;width:82px;margin:3px 0 0 auto"></div> </tr><tr style="background-color:#252525"> <td style="padding:10px 10px;vertical-align:middle"> <div style="font-size:14px;font-weight:bold;color:#ffffff;line-height:1">SHW</div> <div style="font-size:8px;color:#888888;margin-top:2px">Sherwin-Williams Co — Materials</div> </td><td style="padding:10px 10px;vertical-align:middle;text-align:center"> </td><td style="padding:10px 10px;vertical-align:middle;text-align:right"><span style="color:#66cc66;font-weight:bold;font-size:13px">−4.71</span></td> <td style="padding:10px 10px;vertical-align:middle;text-align:right"><span style="color:#66cc66;font-weight:bold">+0.714 ↑</span></td> <td style="padding:10px 10px;vertical-align:middle;text-align:right;font-weight:bold;color:#ffffff">$320.79</td> <td style="padding:10px 10px;vertical-align:middle;text-align:right;font-weight:bold;color:#66cc66">$335.72</td> <td style="padding:10px 10px;vertical-align:middle;text-align:right;font-weight:bold;color:#ff6666">$282.69</td> <td style="padding:10px 10px;vertical-align:middle;text-align:right;color:#ff9900;font-size:10px">28 Jul</td> <td style="padding:10px 10px;vertical-align:middle;text-align:right"> <div style="font-weight:bold;font-size:16px;color:#DEDC04">4.7%</div> <div style="height:4px;border-radius:2px;background-color:#DEDC04;width:44px;margin:3px 0 0 auto"></div> </td></tr></tbody> </table> <div style="padding:8px 10px;font-family:Arial,sans-serif;font-size:8px;color:#666666;border:1px solid #333333;background-color:#1a1a1a">Target (TP1) and Support (SL) levels are algorithmically generated at point of signal confirmation and are not price predictions or personal recommendations. Est. Value = distance from current close to TP1 as a percentage. Signal data only — see full disclaimer below.</div> <p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">Index Levels — 19 Jun 2026</p> <table> <td style="padding:0 6px 0 0;vertical-align:top"> <div style="border:1px solid #333333;padding:12px 14px;background-color:#252525"> <div style="color:#888888;font-family:Arial,sans-serif;font-size:8px;font-weight:bold;letter-spacing:1px;text-transform:uppercase;margin-bottom:4px">S&P 500 — SPX</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;margin-bottom:6px">7,500.58</div> <div style="font-family:Arial,sans-serif;font-size:9px;margin-bottom:2px"><span style="color:#888888">Q Score </span><span style="color:#ff6666;font-weight:bold">+6.0 <span style="font-weight:400;font-size:8px">−0.1/wk</span></span></div> <div style="font-family:Arial,sans-serif;font-size:9px;margin-bottom:8px"><span style="color:#888888">Direction </span><span style="color:#ff6666;font-weight:bold">Declining</span></div> <div style="border-top:1px solid #333333;padding-top:8px"> <div style="height:6px;background-color:#333333;border-radius:3px;margin-bottom:4px;overflow:hidden"> <div style="height:100%;width:90%;background:linear-gradient(90deg,#3a1515,#ff4444);border-radius:3px"></div> </div> <div style="font-family:Arial,sans-serif;font-size:7px;color:#888888;text-align:center">Extended above upper band</div> <td style="padding:0 4px;vertical-align:top"> <div style="color:#888888;font-family:Arial,sans-serif;font-size:8px;font-weight:bold;letter-spacing:1px;text-transform:uppercase;margin-bottom:4px">Russell 1000 — RIY</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;margin-bottom:6px">4,081.29</div> <div style="font-family:Arial,sans-serif;font-size:9px;margin-bottom:2px"><span style="color:#888888">Q Score </span><span style="color:#ff6666;font-weight:bold">+5.1 <span style="font-weight:400;font-size:8px">−0.1/wk</span></span></div> <div style="height:100%;width:92%;background:linear-gradient(90deg,#3a1515,#ff4444);border-radius:3px"></div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:8px;font-weight:bold;letter-spacing:1px;text-transform:uppercase;margin-bottom:4px">S&P 100 — OEX</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;margin-bottom:6px">3,691.24</div> <div style="font-family:Arial,sans-serif;font-size:9px;margin-bottom:2px"><span style="color:#888888">Q Score </span><span style="color:#66cc66;font-weight:bold">+7.1 <span style="font-weight:400;color:#888888;font-size:8px">0.0/wk</span></span></div> <div style="font-family:Arial,sans-serif;font-size:9px;margin-bottom:8px"><span style="color:#888888">Direction </span><span style="color:#66cc66;font-weight:bold">Advancing</span></div> <div style="height:100%;width:88%;background:linear-gradient(90deg,#152030,#2a6644);border-radius:3px"></div> </td><td style="padding:0 0 0 4px;vertical-align:top"> <div style="color:#888888;font-family:Arial,sans-serif;font-size:8px;font-weight:bold;letter-spacing:1px;text-transform:uppercase;margin-bottom:4px">S&P MidCap 400 — MID</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;margin-bottom:6px">3,791.48</div> <div style="font-family:Arial,sans-serif;font-size:9px;margin-bottom:2px"><span style="color:#888888">Q Score </span><span style="color:#66cc66;font-weight:bold">+8.7 <span style="font-weight:400;color:#66cc66;font-size:8px">+0.9/wk</span></span></div> <div style="height:100%;width:75%;background:linear-gradient(90deg,#152030,#2a6644);border-radius:3px"></div> <div style="font-family:Arial,sans-serif;font-size:7px;color:#888888;text-align:center">91% of band</div> </td><tr><td style="background-color:#2a2a2a;padding:28px 36px"> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">Sector Positioning — New Signals This Week <span style="font-weight:normal;font-size:9px;color:#666666">Signal counts = new reversals confirmed COB Thu 18 Jun only</span></p> <table style="margin-bottom:6px"> <td style="padding:2px 3px 2px 0"><div style="background:#1A6B7A;border-radius:2px;font-family:Arial,sans-serif;font-size:7px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;color:#ffffff;text-align:center;padding:4px 3px;white-space:nowrap">Real Est</div></td> <td style="padding:2px 3px"><div style="background:#2A6B4A;border-radius:2px;font-family:Arial,sans-serif;font-size:7px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;color:#ffffff;text-align:center;padding:4px 3px;white-space:nowrap">Health Care</div></td> <td style="padding:2px 3px"><div style="background:#2A6B4A;border-radius:2px;font-family:Arial,sans-serif;font-size:7px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;color:#ffffff;text-align:center;padding:4px 3px;white-space:nowrap">Materials</div></td> <td style="padding:2px 3px"><div style="background:#555555;border-radius:2px;font-family:Arial,sans-serif;font-size:7px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;color:#cccccc;text-align:center;padding:4px 3px;white-space:nowrap">Industrials</div></td> <td style="padding:2px 3px"><div style="background:#555555;border-radius:2px;font-family:Arial,sans-serif;font-size:7px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;color:#cccccc;text-align:center;padding:4px 3px;white-space:nowrap">Financials</div></td> <td style="padding:2px 3px"><div style="background:#555555;border-radius:2px;font-family:Arial,sans-serif;font-size:7px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;color:#cccccc;text-align:center;padding:4px 3px;white-space:nowrap">Cons Disc</div></td> <td style="padding:2px 3px"><div style="background:#555555;border-radius:2px;font-family:Arial,sans-serif;font-size:7px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;color:#cccccc;text-align:center;padding:4px 3px;white-space:nowrap">Staples</div></td> <td style="padding:2px 3px"><div style="background:#555555;border-radius:2px;font-family:Arial,sans-serif;font-size:7px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;color:#cccccc;text-align:center;padding:4px 3px;white-space:nowrap">IT</div></td> <td style="padding:2px 3px"><div style="background:#886622;border-radius:2px;font-family:Arial,sans-serif;font-size:7px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;color:#ffffff;text-align:center;padding:4px 3px;white-space:nowrap">Utilities</div></td> <td style="padding:2px 3px"><div style="background:#8B1A1A;border-radius:2px;font-family:Arial,sans-serif;font-size:7px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;color:#ffffff;text-align:center;padding:4px 3px;white-space:nowrap">Comm Svcs</div></td> <td style="padding:2px 0 2px 3px"><div style="background:#8B1A1A;border-radius:2px;font-family:Arial,sans-serif;font-size:7px;font-weight:bold;letter-spacing:0.3px;text-transform:uppercase;color:#ffffff;text-align:center;padding:4px 3px;white-space:nowrap">Energy</div></td> <table style="margin-bottom:14px"> <td style="padding:2px 10px 2px 0"> <table><tbody><tr> <td style="width:8px;height:8px;background:#1A6B7A;border-radius:1px"></td> <td style="font-family:Arial,sans-serif;font-size:8px;color:#888888;padding-left:4px">Exhaustion / Rotation Alert</td> </tr></tbody></table> </td><td style="width:8px;height:8px;background:#2A6B4A;border-radius:1px"></td> <td style="font-family:Arial,sans-serif;font-size:8px;color:#888888;padding-left:4px">Neutral Positive</td> <td style="width:8px;height:8px;background:#555555;border-radius:1px"></td> <td style="font-family:Arial,sans-serif;font-size:8px;color:#888888;padding-left:4px">Neutral Negative</td> <td style="width:8px;height:8px;background:#886622;border-radius:1px"></td> <td style="font-family:Arial,sans-serif;font-size:8px;color:#888888;padding-left:4px">Negative</td> <td style="padding:2px 0"> </td><td style="width:8px;height:8px;background:#8B1A1A;border-radius:1px"></td> <td style="font-family:Arial,sans-serif;font-size:8px;color:#888888;padding-left:4px">Heavily Negative</td> <th style="padding:7px 8px;text-align:left;color:#ffffff;font-size:7px;letter-spacing:1px;text-transform:uppercase;border:1px solid #2a4060;width:130px">Sector</th> <th style="padding:7px 8px;text-align:center;color:#ffffff;font-size:7px;letter-spacing:1px;text-transform:uppercase;border:1px solid #2a4060;width:90px">Conviction</th> <th style="padding:7px 8px;text-align:center;color:#ffffff;font-size:7px;letter-spacing:1px;text-transform:uppercase;border:1px solid #2a4060;width:54px">New DPR</th> <th style="padding:7px 8px;text-align:center;color:#ffffff;font-size:7px;letter-spacing:1px;text-transform:uppercase;border:1px solid #2a4060;width:54px">New TQ+</th> <th style="padding:7px 8px;text-align:center;color:#ffffff;font-size:7px;letter-spacing:1px;text-transform:uppercase;border:1px solid #2a4060;width:54px">New TEVO</th> <th style="padding:7px 8px;text-align:center;color:#ffffff;font-size:7px;letter-spacing:1px;text-transform:uppercase;border:1px solid #2a4060;width:54px">New HSR</th> <th style="padding:7px 8px;text-align:left;color:#ffffff;font-size:7px;letter-spacing:1px;text-transform:uppercase;border:1px solid #2a4060">Read</th> <tr style="background-color:#1A2A2D"> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:11px;font-weight:bold;color:#ffffff">Real Estate</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><span style="background:#1A6B7A;color:#ffffff;font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">Exhaustion / Rotation</span></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1px solid #444;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#888888">0</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #8B3333;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ff6666">14</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:10px;color:#d0d0d0">Fourteen new High Score Negative Reversals — the highest negative count of any sector this week — led by HST (Q +9.7), ESS (Q +9.3), SPG (Q +8.7). Hotels, apartment REITs and mall operators selling off simultaneously; no sub-sector is holding. Advancing breadth collapsed from 72% to 30% in a single bar. Rotate out of extended positions.</td> </tr><tr style="background-color:#1a2a1a"> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:11px;font-weight:bold;color:#ffffff">Health Care</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><span style="background:#2A6B4A;color:#ffffff;font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">Neutral Positive</span></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #0E5F9D;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ffffff">9</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #2A6644;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#66cc66">2</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #8B3333;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ff6666">5</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:10px;color:#d0d0d0">Nine new Deep Positive Reversals led by ENSG (Q −9.6), REGN (Q −9.4) and ZTS (Q −9.1). OPCH carries a rare double signal: Deep Positive Reversal and Trend Exhaustion simultaneously (Q −8.6, +0.857/wk). Against this, staffing and managed care are selling: CCRN (Q +9.6), AMN (Q +9.4) and ELV (Q +8.9). Rotation within the sector — clinical and specialty buying, staffing and managed care selling. Stock selection only.</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:11px;font-weight:bold;color:#ffffff">Materials</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #0E5F9D;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ffffff">5</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #2A6644;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#66cc66">3</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #8B3333;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ff6666">3</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:10px;color:#d0d0d0">Gold mining leads the Deep Positive Reversals: AEM (Q −9.3, +0.429/wk). Packaging and building materials follow (SON Q −6.4, SHW Q −4.7, LPX Q −4.3 with the highest acceleration at +1.286/wk). All three steel names exiting simultaneously: RS (Q +9.3), STLD (Q +8.9), NUE (Q +8.7). Distinct split — gold and specialty materials buying, steel selling. SHW carries both Deep Positive Reversal and Trend Exhaustion signals.</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:11px;font-weight:bold;color:#ffffff">Industrials</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><span style="background:#555555;color:#ffffff;font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">Neutral Negative</span></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #2A6644;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#66cc66">6</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #8B3333;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ff6666">13</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:10px;color:#d0d0d0">The rotation story within this sector is unambiguous. All four leading Deep Positive Reversals are water and flow control: PNR (Q −8.4), XYL (Q −7.7), VLTO (Q −7.6), PH (Q −6.6) — every one accelerating at +0.857/wk. The thirteen new HSR are dominated entirely by trucking and freight: JBHT, KNX, MRTN and WERN, all at Q +9.1. FDX also fires a Trend Exhaustion signal. Capital is rotating from freight into industrial water infrastructure. No net sector edge — hold benchmark.</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:11px;font-weight:bold;color:#ffffff">Financials</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #0E5F9D;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ffffff">10</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #2A6644;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#66cc66">4</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #8B3333;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ff6666">9</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:10px;color:#d0d0d0">Ten new Deep Positive Reversals led by MKTX (Q −9.7, bond trading) and HLNE (Q −8.6, private markets) against nine new HSR led by BEN (Q +9.4), TRST (Q +9.3) and STT (Q +9.0, custody banking). Bond platform and alternative asset managers recovering; traditional managers and custody banks selling. KNSL fires a Trend Exhaustion signal (Q −8.0, Positive). Near-neutral net signal — hold benchmark.</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:11px;font-weight:bold;color:#ffffff">Consumer Disc.</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #0E5F9D;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ffffff">4</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1px solid #444;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#888888">1</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #8B3333;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ff6666">4</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:10px;color:#d0d0d0">Deep Positive Reversals concentrated in high-quality names: CMG (Q −8.1, also fires Trend Exhaustion), POOL (Q −7.6), BKNG (Q −6.9), LOW (Q −6.3). High Score Negative Reversals are all auto and dealership: ARKO (Q +8.9), SAH (Q +8.6), AAP (Q +8.4), VC (Q +7.6). Consumer spending on restaurants, travel and home improvement recovering; auto/dealership complex selling. Net signal balanced — hold benchmark.</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:11px;font-weight:bold;color:#ffffff">Consumer Staples</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:10px;color:#d0d0d0">Effectively silent this week: one new Deep Positive Reversal (ELF, Q −7.0), zero new High Score Negative Reversals, zero Trend Exhaustion signals. The quietest sector in the universe. No positive or negative catalyst; defensive positioning only.</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:11px;font-weight:bold;color:#ffffff">Info Technology</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:10px;color:#d0d0d0">Marginally negative: five new HSR (EXTR Q +9.6, FIVN Q +8.4, SMTC Q +8.0) against four new Deep Positive Reversals (IDCC Q −8.6, CXT Q −5.4, BDC Q −4.4). Three Trend Exhaustion signals — CSCO (Q +8.1), TWLO (Q +8.0), HPE (Q +7.4) — all Declining: upside momentum running out at elevated levels. No broad sector exposure warranted; individual names only.</td> </tr><tr style="background-color:#2a2015"> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:11px;font-weight:bold;color:#ff9900">Utilities</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><span style="background:#886622;color:#ffffff;font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">Negative</span></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #2A6644;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#66cc66">5</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #C8A84B;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#C8A84B">1</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:10px;color:#d0d0d0">The cleanest sector in the universe this week: five new Deep Positive Reversals, zero new HSR. VST (Vistra, Q −5.3) is the fastest-accelerating name in this set at +1.714/wk. FE (Q −8.6), BEPC (Q −6.6) and NRG (Q −5.4) also reversing. BEPC carries a triple signal: Deep Positive Reversal, Trend Exhaustion and the only new Top Quantmatix Positive in the entire universe. Power generation and energy transition names are the focus.</td> </tr><tr style="background-color:#2a1a1a"> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:11px;font-weight:bold;color:#ff6666">Comm. Services</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><span style="background:#8B1A1A;color:#ffffff;font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">Heavily Negative</span></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1px solid #444;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#888888">2</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #8B3333;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ff6666">2</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;text-align:center"><div style="border:1.5px solid #8B3333;border-radius:3px;padding:4px 6px;display:inline-block;min-width:36px"><span style="font-size:18px;font-weight:bold;color:#ff6666">1</span><br /><span style="font-size:6px;text-transform:uppercase;color:#666666">New Wk</span></div></td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:10px;color:#d0d0d0">Eighty percent of names Declining. Two Deep Positive Reversals in smaller-cap names (RBLX Q −6.7 at +1.0/wk, NYT Q −4.4) provide no conviction basis. MSGS (Q +8.1) high score negative reversal. Two Trend Exhaustion signals (ATEX, RUM) confirm declining momentum running to extremes — not reversals. Signal data supports reducing sector exposure.</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:11px;font-weight:bold;color:#ff6666">Energy</td> <td style="padding:8px;border:1px solid #333333;vertical-align:middle;font-size:10px;color:#d0d0d0">Zero new Deep Positive Reversals for the second consecutive week. New HSR are all downstream refiners: DINO (Q +8.6), MPC (Q +8.6), DK (Q +7.0) — buyers have stepped away from the refining complex with no sign of reversal. No exposure warranted.</td> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">MAG7 Velocity — Confirmed COB Thu 18 Jun <span style="font-weight:normal;font-size:9px;color:#666666">Ranked shallowest to deepest Q score · All seven names at or below mid-band</span></p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:10px;margin-bottom:12px"> <th style="padding:7px 8px;text-align:left;color:#ffffff;font-size:7px;letter-spacing:0.5px;text-transform:uppercase;border:1px solid #2a4060;width:80px">Name</th> <th style="padding:7px 8px;text-align:left;color:#ffffff;font-size:7px;letter-spacing:0.5px;text-transform:uppercase;border:1px solid #2a4060;width:52px">Q Score</th> <th style="padding:7px 8px;text-align:left;color:#ffffff;font-size:7px;letter-spacing:0.5px;text-transform:uppercase;border:1px solid #2a4060;width:70px">Acceleration</th> <th style="padding:7px 8px;text-align:left;color:#ffffff;font-size:7px;letter-spacing:0.5px;text-transform:uppercase;border:1px solid #2a4060;width:60px">Direction</th> <th style="padding:7px 8px;text-align:left;color:#ffffff;font-size:7px;letter-spacing:0.5px;text-transform:uppercase;border:1px solid #2a4060;width:60px">Close</th> <th style="padding:7px 8px;text-align:left;color:#ffffff;font-size:7px;letter-spacing:0.5px;text-transform:uppercase;border:1px solid #2a4060">Band Position</th> <th style="padding:7px 8px;text-align:left;color:#ffffff;font-size:7px;letter-spacing:0.5px;text-transform:uppercase;border:1px solid #2a4060;width:52px">Earnings</th> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"> <div style="font-weight:bold;color:#ffffff;font-size:12px">META</div> <div style="color:#888888;font-size:9px">Meta Platforms</div> </td><td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="color:#ff6666;font-weight:bold">−0.4</span></td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;color:#ff6666">−1.000 ↓</td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="color:#ff6666;font-weight:bold">Declining</span></td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;font-weight:bold;color:#ffffff;font-size:11px">577.22</td> <div style="color:#888888;font-size:8px;margin-bottom:3px">546.85 602.42 658.00</div> <div style="height:6px;background-color:#333333;border-radius:3px;margin-bottom:3px;overflow:hidden"> <div style="height:100%;width:27%;background:#662222;border-radius:3px"></div> <div style="color:#ff6666;font-size:7px;font-weight:bold">27% of range — Q Score already negative (−0.43): first MAG7 name to cross zero. Declining at −1.0/wk — deepest momentum deterioration in the group.</div> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="border:1px solid #7A4D0A;color:#ff9900;border-radius:2px;font-size:8px;font-weight:bold;padding:2px 5px;white-space:nowrap">29 Jul</span></td> <div style="font-weight:bold;color:#ffffff;font-size:12px">MSFT</div> <div style="color:#888888;font-size:9px">Microsoft</div> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="color:#66cc66;font-weight:bold">+0.7</span></td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;color:#ff6666">−0.714 ↓</td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;font-weight:bold;color:#ffffff;font-size:11px">379.40</td> <div style="color:#888888;font-size:8px;margin-bottom:3px">366.18 414.95 463.72</div> <div style="height:100%;width:14%;background:#662222;border-radius:3px"></div> <div style="color:#ff6666;font-size:7px;font-weight:bold">14% of range — near lower band. On current trajectory (−0.71/wk), Q crosses into negative territory next week. Two consecutive MAG7 names at or through zero within days of each other.</div> <div style="font-weight:bold;color:#ffffff;font-size:12px">TSLA</div> <div style="color:#888888;font-size:9px">Tesla</div> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="color:#66cc66;font-weight:bold">+2.4</span></td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;color:#888888">0.000 →</td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="color:#66cc66;font-weight:bold">Advancing</span></td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;font-weight:bold;color:#ffffff;font-size:11px">400.49</td> <div style="color:#888888;font-size:8px;margin-bottom:3px">360.14 414.96 469.77</div> <div style="height:100%;width:37%;background:#2a4422;border-radius:3px"></div> <div style="color:#888888;font-size:7px">37% of range — Advancing but momentum completely stalled (0.0/wk). The only Advancing MAG7 name not accelerating. Below mid-band; position holding, not building.</div> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="border:1px solid #7A4D0A;color:#ff9900;border-radius:2px;font-size:8px;font-weight:bold;padding:2px 5px;white-space:nowrap">22 Jul</span></td> <div style="font-weight:bold;color:#ffffff;font-size:12px">AMZN</div> <div style="color:#888888;font-size:9px">Amazon</div> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="color:#66cc66;font-weight:bold">+5.3</span></td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;color:#ff6666">−1.143 ↓</td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;font-weight:bold;color:#ffffff;font-size:11px">244.39</td> <div style="color:#888888;font-size:8px;margin-bottom:3px">236.85 258.49 280.13</div> <div style="height:100%;width:17%;background:#662222;border-radius:3px"></div> <div style="color:#ff6666;font-size:7px;font-weight:bold">17% of range — fastest decelerating name in MAG7 at −1.14/wk. Approaching lower band. At this rate, reaches neutral Q in approximately 4–5 weeks.</div> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="border:1px solid #7A4D0A;color:#ff9900;border-radius:2px;font-size:8px;font-weight:bold;padding:2px 5px;white-space:nowrap">30 Jul</span></td> <div style="font-weight:bold;color:#ffffff;font-size:12px">NVDA</div> <div style="color:#888888;font-size:9px">NVIDIA</div> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="color:#66cc66;font-weight:bold">+5.6</span></td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;color:#ff6666">−0.286 ↓</td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;font-weight:bold;color:#ffffff;font-size:11px">210.69</td> <div style="color:#888888;font-size:8px;margin-bottom:3px">187.91 213.61 239.32</div> <div style="height:100%;width:44%;background:#662222;border-radius:3px"></div> <div style="color:#ff6666;font-size:7px">44% of range — slowest deceleration of the Declining MAG7 names (−0.29/wk). Holding near mid-band. Least urgent concern in the group at current trajectory — but momentum loss is persistent.</div> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="border:1px solid #7A4D0A;color:#ff9900;border-radius:2px;font-size:8px;font-weight:bold;padding:2px 5px;white-space:nowrap">26 Aug</span></td> <div style="font-weight:bold;color:#ffffff;font-size:12px">GOOG</div> <div style="color:#888888;font-size:9px">Alphabet</div> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="color:#66cc66;font-weight:bold">+6.9</span></td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;color:#ff6666">−0.429 ↓</td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;font-weight:bold;color:#ffffff;font-size:11px">367.46</td> <div style="color:#888888;font-size:8px;margin-bottom:3px">345.11 376.59 408.08</div> <div style="height:100%;width:35%;background:#662222;border-radius:3px"></div> <div style="color:#ff6666;font-size:7px;font-weight:bold">35% of range — was in High Score Negative Reversal territory last week (Q +7.29). Has since slipped to Q +6.86 — just below the threshold. Deceleration continuing at −0.43/wk.</div> <div style="font-weight:bold;color:#ffffff;font-size:12px">AAPL</div> <div style="color:#888888;font-size:9px">Apple</div> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top"><span style="color:#66cc66;font-weight:bold">+8.1</span></td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;color:#66cc66">+0.286 ↑</td> <td style="padding:6px 8px;border:1px solid #333333;vertical-align:top;font-weight:bold;color:#ffffff;font-size:11px">298.01</td> <div style="color:#888888;font-size:8px;margin-bottom:3px">277.76 301.12 324.47</div> <div style="height:100%;width:43%;background:#2a6644;border-radius:3px"></div> <div style="color:#66cc66;font-size:7px">▲ 43% of range — sole MAG7 name both Advancing and accelerating (+0.29/wk). Q +8.14 is the highest in the group and historically elevated. At extreme Q levels, exhaustion risk increases — watch for any deceleration signal.</div> <tr><td style="background-color:#1a1a1a;padding:16px 36px;border-top:1px solid #333333"> <p style="margin:0;color:#666666;font-family:Arial,sans-serif;font-size:9px;line-height:1.6;text-align:center"><strong style="color:#888888">Important Notice:</strong> This report is produced by Quantmatix and is intended solely for institutional and professional investors. It is provided for informational purposes only and does not constitute investment advice, a personal recommendation, or an offer or solicitation to buy or sell any financial instrument. Signal and momentum data reflects proprietary algorithmic analysis and is not a guarantee of future performance. Past performance is not indicative of future results. Recipients should conduct independent due diligence and seek advice from a qualified financial adviser before making any investment decision. All data sourced from Quantmatix proprietary systems. <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/00a9.png?v=61548701430" class="not-responsive emoji emoji-android emoji--copyright" style="height:23px;width:auto;vertical-align:middle" title="©" alt="©" /> 2026 Quantmatix Limited. All rights reserved.</p> </td></tr><tr><td style="background-color:#152030;padding:16px 36px;text-align:center"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold">Quantmatix · US Market Intelligence · 20 Jun 2026</p></td></tr></div></table></tr></table></table></td></tr></div></div></td></table></td></table></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table>

QM AI Portfolio Research Note · Week 1 Live · 31 May 2026 <div style="max-width:680px;margin:0 auto;background:#f0f2f4;padding:20px 0 40px"> <div style="background:#ffffff;border-top:2.5px solid #0d2240;padding:16px 24px 12px"> <div style="font-size:8.5px;font-weight:700;letter-spacing:3px;text-transform:uppercase;color:#888888;margin-bottom:6px">Quantmatix · AI Portfolio Research Note · Week 1 Live</div> <div style="font-size:16px;font-weight:700;line-height:1.25;color:#0d2240;margin-bottom:8px">First Week Live: QM AI Portfolio +5.2% vs AI Revolution +3.1%</div> <div style="font-size:10px;color:#444444;border-top:1px solid #ebebea;padding-top:6px">31 May 2026 · Portfolios live since 26 May 2026 · QM Data: Week of 30 May 2026 · Global Tech Universe: 237 stocks · </div></div> <div style="background:#ffffff;padding:14px 24px;border-left:2.5px solid #0d2240;margin-top:1px"> <div style="font-size:9px;font-weight:700;letter-spacing:1.5px;text-transform:uppercase;color:#0d2240;margin-bottom:6px">Executive Summary</div> <p style="margin:0;font-size:11px;line-height:1.65;color:#444444">The <strong>QM AI Portfolio returned +5.2% in Week 1</strong>, led by Oracle (+17.5%) and Broadcom (+7.9%). The <strong>AI Revolution Portfolio returned +3.1%</strong>, driven entirely by Micron’s +29.3% surge — the remaining six names averaged −1.4%. The central QM finding is that <strong>the majority of holdings have already broken through their TP1 swing targets</strong> — a positive outcome. TP1 is designed to be hit 65% of the time; a momentum breakout can drive prices well beyond that initial target. The structural concern lies in the AI Revolution Portfolio, where three of seven holdings are in Declining direction and Vertiv and Digital Realty carry confirmed Negative Reversals — a categorically different signal from target price exceedance.</p> </div> <div style="font-size:8.5px;font-weight:700;letter-spacing:2.5px;text-transform:uppercase;color:#0d2240;border-bottom:1px solid #0d2240;padding-bottom:5px;margin:20px 16px 12px">Market Context — Week of 26–30 May 2026</div> <div style="background:#ffffff;margin:0 0 2px"> <div style="padding:10px 24px;border-left:2.5px solid #0d2240;margin:0 0 2px"> <div style="font-size:10px;font-weight:700;color:#0d2240;margin-bottom:4px">Oracle +17.5% — Earnings Catalyst</div> <div style="font-size:10px;color:#444444;line-height:1.6">Oracle reported Q4 FY2026 earnings with cloud revenue and AI infrastructure bookings ahead of consensus — the +17.5% weekly move was the largest in either portfolio. QChg surged to +2.9, the strongest acceleration across all 14 holdings. The stock has broken decisively through its TP1 swing target. Momentum breakouts of this magnitude can carry well beyond the initial target levels.</div> <div style="font-size:10px;font-weight:700;color:#0d2240;margin-bottom:4px">Micron +29.3% — AI Memory Demand Surge</div> <div style="font-size:10px;color:#444444;line-height:1.6">HBM (High Bandwidth Memory) demand from NVIDIA’s GPU programs has driven a structural shift in DRAM pricing. Micron, one of three global HBM suppliers, reported Q3 FY2026 results and guidance well ahead of expectations. At Q=7.9, the mean reversion move has been exceptional — Micron has surged through both swing targets on the back of a structural HBM demand shift. A momentum breakout of this magnitude can drive prices far beyond the near-term volatility targets.</div> <div style="font-size:10px;font-weight:700;color:#0d2240;margin-bottom:4px">Broadcom +7.9% & Microsoft +7.6% — AI Infrastructure Momentum</div> <div style="font-size:10px;color:#444444;line-height:1.6">Broadcom’s custom AI ASIC programs with hyperscaler clients continue to drive sustained demand; at Q=9.1, it is approaching exhaustion territory in the QM framework. Microsoft Azure AI and Copilot adoption have driven consistent beat-and-raise quarters. At Q=0.7, Microsoft is the most moderately positioned name in the QM AI Portfolio — the only holding not in extended territory.</div> <div style="padding:10px 24px;border-left:2.5px solid #8b1a1a"> <div style="font-size:10px;font-weight:700;color:#8b1a1a;margin-bottom:4px">Vertiv −3.6% · Digital Realty −1.1% · AEP −3.7% — AI Infrastructure Rotation Out</div> <div style="font-size:10px;color:#444444;line-height:1.6">Vertiv (power systems), Digital Realty (data centre REIT), and AEP (utility grid) all carry Declining QM direction — the model was already signalling deterioration before this week’s moves. Capital is rotating from AI infrastructure enablers toward direct AI chip and software beneficiaries. Vertiv’s confirmed Negative Reversal at Q=8.0 indicates exhaustion at elevated valuation, not a temporary dip.</div> <div style="font-size:8.5px;font-weight:700;letter-spacing:2.5px;text-transform:uppercase;color:#0d2240;border-bottom:1px solid #0d2240;padding-bottom:5px;margin:20px 16px 12px">Week 1 Performance — 26 to 30 May 2026 (Equal-Weighted)</div> <div style="background:#ffffff;margin:0 0 16px"> <div style="background:#0d2240;color:#ffffff;font-size:10px;font-weight:700;padding:8px 14px;display:flex"> <span style="flex:1">QM AI Portfolio</span> <span style="font-size:18px;font-weight:800">+5.15%</span> <table style="border-collapse:collapse;font-size:13px"> <thead> <tr> <th style="padding:7px 10px;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:left;border:1px solid #0d2240;background:#0d2240;color:#ffffff">Stock</th> <th style="padding:7px 10px;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #0d2240;background:#0d2240;color:#ffffff">Week %</th> <th style="padding:7px 10px;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #0d2240;background:#0d2240;color:#ffffff">Q Score</th> <th style="padding:7px 10px;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #0d2240;background:#0d2240;color:#ffffff">EV TP1</th> <th style="padding:7px 10px;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:left;border:1px solid #0d2240;background:#0d2240;color:#ffffff">Signal State</th> </tr> </thead> <tbody> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><strong style="color:rgb(0, 0, 0)">Oracle</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700"><strong>+17.54%</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right"><span style="color:rgb(0, 0, 0)">6.0</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−26.6%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="padding:2px 7px;font-size:9px;font-weight:700;border-radius:2px;background:#7a4d0a;color:#ffffff;white-space:nowrap">Extended</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">Broadcom</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+7.88%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700"><strong>9.1</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−14.9%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="padding:2px 7px;font-size:9px;font-weight:700;border-radius:2px;background:#8b1a1a;color:#ffffff;white-space:nowrap">Approaching Exhaustion</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">Microsoft</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+7.57%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right"><span style="color:rgb(0, 0, 0)">0.7</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−12.5%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="padding:2px 7px;font-size:9px;font-weight:700;border-radius:2px;background:#1a3a5c;color:#ffffff;white-space:nowrap">Advancing</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">Applied </span>Materials</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+4.14%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700"><strong>8.9</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−8.8%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">Amazon</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+1.62%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right"><span style="color:rgb(0, 0, 0)">7.9</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−12.0%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">Alphabet</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−0.78%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right"><span style="color:rgb(0, 0, 0)">7.6</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−14.3%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">NVIDIA</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−1.95%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right"><span style="color:rgb(0, 0, 0)">5.6</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−3.2%</td> <tr style="background:#f8f8f6"> <td colspan="2" style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;font-weight:700;text-align:right"><span style="color:rgb(0, 0, 0)">Equal-weighted avg</span></td> <td colspan="3" style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;font-weight:700;text-align:right;color:#165c2e;font-size:13px">+5.15%</td> </tr></tbody> </table> <div style="background:#5a1a6b;color:#ffffff;font-size:10px;font-weight:700;padding:8px 14px;display:flex"> <span style="flex:1">AI Revolution Portfolio</span> <span style="font-size:18px;font-weight:800">+3.09%</span> <th style="padding:7px 10px;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:left;border:1px solid #5a1a6b;background:#5a1a6b;color:#ffffff">Stock</th> <th style="padding:7px 10px;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #5a1a6b;background:#5a1a6b;color:#ffffff">Week %</th> <th style="padding:7px 10px;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #5a1a6b;background:#5a1a6b;color:#ffffff">Q Score</th> <th style="padding:7px 10px;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #5a1a6b;background:#5a1a6b;color:#ffffff">EV TP1</th> <th style="padding:7px 10px;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:left;border:1px solid #5a1a6b;background:#5a1a6b;color:#ffffff">Signal State</th> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><strong style="color:rgb(0, 0, 0)">Micron Technology</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700"><strong>+29.29%</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−44.1%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">TSMC</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+3.44%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right"><span style="color:rgb(0, 0, 0)">7.7</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−2.9%</td> <tr style="background:#fdf1f1"> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">Digital Realty</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−1.06%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right"><span style="color:rgb(0, 0, 0)">6.4</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−2.3%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="padding:2px 7px;font-size:9px;font-weight:700;border-radius:2px;background:#8b1a1a;color:#ffffff;white-space:nowrap">Declining · Neg Rev</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><strong style="color:rgb(0, 0, 0)">Vertiv Holdings</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−3.59%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700"><strong>8.0</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−12.4%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">AEP</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−3.74%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right"><span style="color:rgb(0, 0, 0)">3.0</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−2.8%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="padding:2px 7px;font-size:9px;font-weight:700;border-radius:2px;background:#8b1a1a;color:#ffffff;white-space:nowrap">Declining</span></td> <td colspan="3" style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;font-weight:700;text-align:right;color:#165c2e;font-size:13px">+3.09%</td> <td colspan="2" style="padding:7px 10px;border:1px solid rgb(212, 212, 208);vertical-align:middle;font-weight:700;text-align:right;font-size:11px"><span style="color:rgb(0, 0, 0)">Ex-Micron avg</span></td> <td colspan="3" style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;font-weight:700;text-align:right;color:#8b1a1a">−1.36%</td> <div style="font-size:8.5px;font-weight:700;letter-spacing:2.5px;text-transform:uppercase;color:#0d2240;border-bottom:1px solid #0d2240;padding-bottom:5px;margin:20px 16px 12px">QM Signal Assessment — What the Data Is Saying</div> <div style="background:#ffffff;border:1px solid #0d2240;padding:14px 16px;margin:0 0 2px"> <div style="font-size:9px;font-weight:700;color:#0d2240;text-transform:uppercase;letter-spacing:1px;margin-bottom:10px">QM AI Portfolio — Signal Position</div> <div style="font-size:11px;line-height:1.65;color:#444444"> <p style="margin:0 0 8px">All 7 holdings are <strong>Advancing direction</strong> — positive momentum confirmed across the full portfolio. The majority have already exceeded their TP1 swing targets, which are calibrated to be hit 65% of the time. In a strong mean reversion momentum move this is expected — the initial swing target is a near-term volatility marker, and a breakout through it confirms the momentum thesis is working.</p> <p style="margin:0 0 8px"><strong>Broadcom (Q=9.1) and Applied Materials (Q=8.9) are the most exposed.</strong> Q Scores above 9 are rare and historically precede deceleration. Broadcom’s QChg of +0.9 remains positive — momentum has not yet peaked — but the proximity to Q Score exhaustion territory (typically 9.5–10) means the window for further acceleration is narrowing.</p> <p style="margin:0"><strong>Oracle’s +17.5% weekly gain</strong> propelled its QChg to +2.9 — the strongest week-on-week score acceleration in the portfolio — but the stock’s EV has deteriorated sharply (TP1 is now 23% below current price). The gain was real; the forward signal from here is not supportive.</p> <div style="background:#ffffff;border:1px solid #5a1a6b;padding:14px 16px;margin:0 0 16px"> <div style="font-size:9px;font-weight:700;color:#5a1a6b;text-transform:uppercase;letter-spacing:1px;margin-bottom:10px">AI Revolution Portfolio — Signal Position</div> <p style="margin:0 0 8px"><strong>Three of seven holdings are in Declining direction — a material structural concern.</strong> AEP’s QChg has deteriorated to −2.0, the steepest deceleration of any name across both portfolios. Vertiv (Q=8.0, Declining, Negative Reversal) is the most problematic: the QM model has flipped the SL above the current price (+21.8% at 67% probability), which is the model’s representation of a confirmed high-score reversal to the downside. Digital Realty carries the same Declining + Negative Reversal structure at Q=6.4.</p> <p style="margin:0 0 8px"><strong>Micron’s +29.3% surge is the most dramatic mean reversion move in either portfolio.</strong> At Q=7.9, the stock has broken well through both swing targets — exactly what a strong momentum breakout looks like when HBM demand fundamentals shift structurally. The TP1 and TP2 targets are near-term volatility markers; a move of this magnitude confirms the mean reversion thesis emphatically.</p> <p style="margin:0"><strong>TSMC is the most balanced name</strong> in the AI Revolution portfolio at Q=7.7 with EV of −2.9% — the smallest negative EV of any Advancing name in either portfolio. TP1 hit rate of 82% is also notable, though that TP1 is modestly below the current price.</p> <div style="font-size:8.5px;font-weight:700;letter-spacing:2.5px;text-transform:uppercase;color:#0d2240;border-bottom:1px solid #0d2240;padding-bottom:5px;margin:20px 16px 12px">Full Signal Detail — TP1 & TP2 Swing Targets vs Current Price</div> <div style="overflow-x:auto;margin:0 0 8px"> <table style="border-collapse:collapse;font-size:13px;min-width:600px"> <th style="padding:6px 8px;background:#0d2240;color:#ffffff;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:left;border:1px solid #0d2240">Stock</th> <th style="padding:6px 8px;background:#0d2240;color:#ffffff;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:left;border:1px solid #0d2240">Portfolio</th> <th style="padding:6px 8px;background:#0d2240;color:#ffffff;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #0d2240">Q Score</th> <th style="padding:6px 8px;background:#0d2240;color:#ffffff;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #0d2240">QChg</th> <th style="padding:6px 8px;background:#0d2240;color:#ffffff;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:left;border:1px solid #0d2240">Direction</th> <th style="padding:6px 8px;background:#0d2240;color:#ffffff;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #0d2240">TP1</th> <th style="padding:6px 8px;background:#0d2240;color:#ffffff;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #0d2240">EV@TP1</th> <th style="padding:6px 8px;background:#0d2240;color:#ffffff;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #0d2240">TP2</th> <th style="padding:6px 8px;background:#0d2240;color:#ffffff;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #0d2240">EV@TP2</th> <th style="padding:6px 8px;background:#0d2240;color:#ffffff;font-size:7.5px;letter-spacing:1px;text-transform:uppercase;text-align:right;border:1px solid #0d2240">SL</th> <tr style="background:#fdf6ec"> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">QM AI</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+2.9</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">Advancing</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−23.2%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−18.2%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−21.7%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−43.8%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><strong style="color:rgb(0, 0, 0)">Broadcom</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">9.1</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+0.9</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−12.7%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−10.1%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−34.4%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+1.4</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−12.2%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−9.1%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−23.1%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><strong style="color:rgb(0, 0, 0)">Applied Materials</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">8.9</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+0.4</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+0.9% ★</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−6.8%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−27.9%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+1.1</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−9.5%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−8.0%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−26.3%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">Both</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−12.6%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−10.4%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−12.3%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−25.5%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><strong style="color:rgb(0, 0, 0)">NVIDIA</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+0.6</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−0.9%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700"><strong>+1.2% ★</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−1.6%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−20.8%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><span style="color:rgb(0, 0, 0)">AI Rev</span></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+1.3</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−44.6%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−41.9%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−37.6%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−64.1%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><strong style="color:rgb(0, 0, 0)">TSMC</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+1.0</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−0.3%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700"><strong>+2.6% ★</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−21.1%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">8.0</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−0.9</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;color:#8b1a1a;font-weight:700">Declining · Neg Rev</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−11.1%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−18.0%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+21.8%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><strong style="color:rgb(0, 0, 0)">Digital Realty</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−3.3%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−5.9%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−1.4%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+9.0%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle"><strong style="color:rgb(0, 0, 0)">AEP</strong></td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−2.0</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;color:#8b1a1a;font-weight:700">Declining</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−4.6%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#8b1a1a;font-weight:700">−2.4%</td> <td style="padding:7px 10px;border:1px solid #d4d4d0;vertical-align:middle;text-align:right;color:#165c2e;font-weight:700">+7.9%</td> <div style="background:#eef2f7;border:1px solid #d4d4d0;padding:8px 14px;font-size:10px;color:#444444;margin:0 0 8px"> <strong style="color:#0d2240">★ NVIDIA, Applied Materials and TSMC</strong> have not yet reached their TP2 swing targets (+1.2%, +0.9%, +2.6% remaining respectively). All other holdings have exceeded both swing targets — confirming the mean reversion moves are well advanced. TP1 is designed to be hit 65% of the time; exceedance is a positive signal, not a concern. <p style="font-size:9px;color:#888888;margin:0 0 12px;padding:0 4px"> <span style="padding:1px 6px;background:#fdf1f1;border:1px solid #e8b8b8;font-weight:700;color:#8b1a1a">Red</span> = Declining direction and/or confirmed Negative Reversal — the primary structural concern. <span style="padding:1px 6px;background:#fdf6ec;border:1px solid #7a4d0a;font-weight:700;color:#7a4d0a">Amber</span> = Notable target exceedance. TP1 and TP2 are near-term swing trade volatility targets (TP1 designed to be hit 65% of the time, TP2 55%). Negative values indicate the target has already been exceeded — a positive outcome in a momentum breakout.</p> <div style="background:#eef2f7;border:1px solid #0d2240;padding:14px 18px;margin:0 0 14px"> <div style="font-size:8px;font-weight:700;letter-spacing:2px;text-transform:uppercase;color:#1a3a5c;margin-bottom:10px">Key Conclusions</div> <p style="margin:0 0 8px;font-size:11px;line-height:1.65;color:#444444"><strong style="color:#0d2240">1. QM AI Portfolio (+5.2%) delivered broad-based gains. AI Revolution (+3.1%) is misleading — strip Micron and the portfolio lost ground.</strong></p> <p style="margin:0 0 8px;font-size:11px;line-height:1.65;color:#444444"><strong style="color:#0d2240">2. Most holdings have exceeded their TP1 swing targets — confirming the mean reversion moves are working.</strong> TP1 is calibrated to be hit 65% of the time; a momentum breakout through TP1 and TP2 is a feature of strong trend moves, not a warning signal.</p> <p style="margin:0 0 8px;font-size:11px;line-height:1.65;color:#444444"><strong style="color:#0d2240">3. Vertiv and Digital Realty carry confirmed Negative Reversals.</strong> AEP’s QChg of −2.0 is the steepest deceleration across both portfolios. All three represent structural concerns within the AI Revolution portfolio.</p> <p style="margin:0;font-size:11px;line-height:1.65;color:#444444"><strong style="color:#0d2240">4. The QM data shows a small number of overlooked software names in the Global Tech universe with confirmed positive reversals and positive EV.</strong> BlackLine (EV +7.24%), EPAM (EV +6.99%), and HubSpot (EV +4.60%) are the three names in 237 global tech stocks meeting all three criteria — none held in either portfolio. This data is provided for informational context only and does not constitute a recommendation to acquire any instrument.</p> <div style="background:#0d2240;padding:18px 24px;border-radius:0 0 4px 4px"> <div style="font-size:9px;font-weight:700;letter-spacing:2px;text-transform:uppercase;color:#D7DF21;margin-bottom:10px">Regulatory Disclosure</div> <p style="margin:0 0 10px;font-size:10px;line-height:1.7;color:#7a9bbf;border-bottom:1px solid #1e3a5f;padding-bottom:10px"><strong style="color:#a8c8e8">Data source:</strong> Quantmatix proprietary QM Score system. All signals as at 30 May 2026 close. Portfolios live since 26 May 2026. EV = (TP1 Move × TP1 Hit%) − (|SL Move| × SL Hit%). Prepared by Liam Boggan, CEO & Founder, Quantmatix · 31 May 2026.</p> <p style="margin:0 0 10px;font-size:10px;line-height:1.7;color:#7a9bbf;border-bottom:1px solid #1e3a5f;padding-bottom:10px">This research note is produced for informational purposes only. Quantmatix is not authorised or regulated under MiFID II to provide personal investment recommendations or investment advice. Nothing in this note constitutes a personal recommendation, a suggestion to buy or sell any financial instrument, or a representation that any instrument is suitable for any individual. Past signal performance does not guarantee future results.</p> <p style="margin:0;font-size:10px;line-height:1.7;color:#7a9bbf">You should make your own independent assessment of any financial instrument and, where appropriate, seek advice from a regulated financial adviser. By receiving this note you confirm you are a professional or sophisticated investor accessing this data for your own informational purposes.</p></div></div></div></tr></table></div></div></div></div></tr></div></div></div></div></div></div></div>

Quantmatix US Stock Ideas - 15 May 2026 <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <table style="max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:28px 36px"> <p style="margin:0 0 6px 0;color:#888888;font-family:Arial,sans-serif;font-size:10px;letter-spacing:3px;text-transform:uppercase">Quantmatix · Institutional Research</p><p style="margin:0 0 6px 0;color:#888888;font-family:Arial,sans-serif;font-size:10px;letter-spacing:3px;text-transform:uppercase"><br /></p> <h1 style="margin:0 0 14px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:17px;font-weight:bold;line-height:1.4">US Stock Ideas — Best Ideas from Signal Clusters · 15 May 2026</h1><div><br /></div> <table style="border-top:1px solid #2a4060;padding-top:14px"> <tbody><tr> <td style="text-align:center;padding:0 6px"> <div style="color:#ff9900;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1">82</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">HS Neg Reversals</div> <div style="color:#ff9900;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">Universe-wide</div> </td> <td style="text-align:center;padding:0 6px;border-left:1px solid #2a4060"> <div style="color:#66cc66;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1">129</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">DPR · Health Care</div> <div style="color:#66cc66;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">Dominant cluster <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></div> <div style="color:#DEDC04;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1">6.1%</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">IR · Top EV</div> <div style="color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">Highest in universe <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></div> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:14px;font-weight:bold;line-height:1.2">Energy · Utils</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">Conv. Negative</div> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">13 + 7 HSR</div> </td></tr> </tbody></table> </td></tr> <tr><td style="background-color:#1f1f1f;padding:24px 36px"> <p style="margin:0 0 8px 0;color:#7aadcc;font-family:Arial,sans-serif;font-size:9px;font-weight:bold;letter-spacing:2px;text-transform:uppercase">Investment Context — 15 May 2026</p> <p style="margin:0;color:#cccccc;font-family:Arial,sans-serif;font-size:12px;line-height:1.7">US equity indices are extended above their upper Q Bands with no active target models at index level, shifting conviction entirely to individual stock selection within the most signal-dense sectors. The dominant cluster this week is <strong style="color:#ffffff">Health Care</strong> — 129 Deep Positive Reversals, 11 positive individual signals — driven in large part by post-earnings sell-downs creating discount entry points (STE, UHS). <strong style="color:#ffffff">Industrials</strong> offers the single highest-conviction idea of the cycle in IR, a dual-signal name at a 10% discount to band midpoint. <strong style="color:#ffffff">Materials</strong> and <strong style="color:#ffffff">Real Estate</strong> each contribute a confirmed signal. The exhaustion pool is also expanding (82 HSR, Energy and Utilities Conviction Negative) — this is a stock-picker's tape.</p><p style="margin:0;color:#cccccc;font-family:Arial,sans-serif;font-size:12px;line-height:1.7"><br /></p> </td></tr><tr><td style="padding:0"> <div style="background-color:#152030;padding:14px 36px"> <table> <tbody><tr> <td> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /> Health Care — Dominant Signal Cluster</div> <div style="color:rgba(255,255,255,0.55);font-family:Arial,sans-serif;font-size:10px;margin-top:4px;line-height:1.5">Richest signal concentration in the universe. Post-earnings sell-downs in STE and HHH have created discount entries confirmed by reversal signals. ETF direction watch active — individual stock selection is the vehicle.</div> </td><td style="text-align:right;white-space:nowrap;padding-left:20px"> <table> <td style="text-align:center;padding:0 8px"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">129</div> <div style="color:rgba(255,255,255,0.45);font-family:Arial,sans-serif;font-size:8px;text-transform:uppercase">DPR</div> </td><td style="text-align:center;padding:0 8px;border-left:1px solid #2a4060"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">11</div> <div style="color:rgba(255,255,255,0.45);font-family:Arial,sans-serif;font-size:8px;text-transform:uppercase">Pos Signals</div> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">16</div> <div style="color:rgba(255,255,255,0.45);font-family:Arial,sans-serif;font-size:8px;text-transform:uppercase">HSR</div> </td></table></td></tr></tbody></table></div> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:11px"> <thead> <tr style="background-color:#1a3a5c"> <th style="padding:7px 10px;text-align:left;color:rgba(255,255,255,0.6);font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Stock</th> <th style="padding:7px 10px;text-align:center;color:rgba(255,255,255,0.6);font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Status</th> <th style="padding:7px 10px;text-align:right;color:rgba(255,255,255,0.6);font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Close</th> <th style="padding:7px 10px;text-align:center;color:rgba(255,255,255,0.6);font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Q · Accel</th> <th style="padding:7px 10px;text-align:right;color:rgba(255,255,255,0.6);font-size:8px;text-transform:uppercase;letter-spacing:0.8px">TP1 · HR</th> <th style="padding:7px 10px;text-align:right;color:rgba(255,255,255,0.6);font-size:8px;text-transform:uppercase;letter-spacing:0.8px">SL1</th> <th style="padding:7px 10px;text-align:center;color:rgba(255,255,255,0.6);font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Earn</th> <th style="padding:7px 10px;text-align:right;color:rgba(255,255,255,0.6);font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Est. EV</th> </tr></thead> <tbody> <tr style="background-color:#252525"> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold;line-height:1">STE</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">STERIS PLC · Global sterilisation & surgical equipment</div> <div style="color:#66cc66;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">Post-earnings reversal</div> </td><td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:center"><span style="background-color:#152030;color:#ffffff;font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">NEW WK</span></td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#ffffff;font-weight:bold">$215.98</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:center"><span style="color:#ff6666">−7.9</span> · <span style="color:#66cc66">+0.857↑</span></td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#66cc66;font-weight:bold">$228.22 · 73%</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#ff6666;font-weight:bold">$198.47</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:center;color:#ff9900;font-size:10px">05-Aug</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#DEDC04;font-weight:bold;font-size:15px">2.6%</td> </tr><tr style="background-color:#1f1f1f"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold;line-height:1">UHS</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">Universal Health Services · US hospital & behavioural health</div> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#ffffff;font-weight:bold">$170.67</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:center"><span style="color:#ff6666">−6.6</span> · <span style="color:#66cc66">+0.286↑</span></td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#66cc66;font-weight:bold">$184.84 · 63%</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#ff6666;font-weight:bold">$153.60</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:center;color:#ff9900;font-size:10px">27-Jul</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#DEDC04;font-weight:bold;font-size:15px">2.3%</td> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold;line-height:1">ABBV</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">AbbVie Inc. · Skyrizi, Rinvoq pharmaceutical leader</div> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#ffffff;font-weight:bold">$210.77</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:center"><span style="color:#ff6666">−5.4</span> · <span style="color:#66cc66">+0.857↑</span></td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#66cc66;font-weight:bold">$220.69 · 74%</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#ff6666;font-weight:bold">$191.83</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:center;color:#ff9900;font-size:10px">30-Jul</td> <td style="padding:10px 10px;border-bottom:1px solid #2d2d2d;text-align:right;color:#DEDC04;font-weight:bold;font-size:15px">1.8%</td> <td style="padding:10px 10px"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold;line-height:1">ICUI</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">ICU Medical, Inc. · Infusion therapy & medical devices</div> </td><td style="padding:10px 10px;text-align:center"><span style="background-color:#152030;color:#ffffff;font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">NEW WK</span></td> <td style="padding:10px 10px;text-align:right;color:#ffffff;font-weight:bold">$122.99</td> <td style="padding:10px 10px;text-align:center"><span style="color:#ff6666">−8.1</span> · <span style="color:#66cc66">+0.714↑</span></td> <td style="padding:10px 10px;text-align:right;color:#66cc66;font-weight:bold">$132.47 · 64%</td> <td style="padding:10px 10px;text-align:right;color:#ff6666;font-weight:bold">$109.95</td> <td style="padding:10px 10px;text-align:center;color:#ff9900;font-size:10px">06-Aug</td> <td style="padding:10px 10px;text-align:right;color:#DEDC04;font-weight:bold;font-size:15px">1.8%</td> </tr></tbody> </table> </td></tr><tr><td style="padding:0;padding-top:20px"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold">Industrials — IR Leads with Highest EV in Universe</div> <div style="color:rgba(255,255,255,0.55);font-family:Arial,sans-serif;font-size:10px;margin-top:4px;line-height:1.5">IR is the standout idea this cycle — the only dual-signal name (reversal + momentum signals simultaneously active), trading at a 10% discount to band midpoint. 8 combined positive signals in the sector.</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">98</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">8</div> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">7</div> </td></tr><tr style="background-color:#1a2a1a"> <td style="padding:12px 10px"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold;line-height:1">IR</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">Ingersoll Rand Inc. · Industrial flow & compression technology</div> <div style="color:#DEDC04;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">Band Mid $80.29 — 10% discount · Dual signal <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></div> </td><td style="padding:12px 10px;text-align:center"><span style="background-color:#152030;color:#ffffff;font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">NEW WK</span></td> <td style="padding:12px 10px;text-align:right;color:#ffffff;font-weight:bold">$71.82</td> <td style="padding:12px 10px;text-align:center"><span style="color:#ff6666">−5.1</span> · <span style="color:#66cc66">+0.429↑</span></td> <td style="padding:12px 10px;text-align:right;color:#66cc66;font-weight:bold">$79.41 · 74%</td> <td style="padding:12px 10px;text-align:right;color:#ff6666;font-weight:bold">$67.15</td> <td style="padding:12px 10px;text-align:center;color:#ff9900;font-size:10px">30-Jul</td> <td style="padding:12px 10px;text-align:right;color:#DEDC04;font-weight:bold;font-size:18px">6.1%</td> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold">Materials — Confirmed Signal, Entry Has Moved</div> <div style="color:rgba(255,255,255,0.55);font-family:Arial,sans-serif;font-size:10px;margin-top:4px;line-height:1.5">GEF was confirmed at Friday's close. Stock has eased 5.4% intraweek to $65.42 — EV below calculated at signal close. Verify current price before entry; risk/reward from current levels is modestly less favourable than shown.</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">34</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">4</div> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">4</div> </tr><tr style="background-color:#2a2510"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold;line-height:1">GEF</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">Greif, Inc. · Industrial packaging (steel drums, fibre, IBC)</div> <div style="color:#ff9900;font-family:Arial,sans-serif;font-size:9px;margin-top:2px"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> Signal close $68.07 · Current $65.42 (−5.4%) — verify before entry</div> <td style="padding:10px 10px;text-align:center"><span style="background-color:#1a3a5c;color:rgba(255,255,200,0.9);font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">FRI 9 MAY</span></td> <td style="padding:10px 10px;text-align:right;color:#ffffff;font-weight:bold">$68.07 <span style="color:#ff9900;font-size:9px"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></span></td> <td style="padding:10px 10px;text-align:center"><span style="color:#ff6666">−5.6</span> · <span style="color:#66cc66">+1.000↑</span></td> <td style="padding:10px 10px;text-align:right;color:#66cc66;font-weight:bold">$71.29 · 78%</td> <td style="padding:10px 10px;text-align:right;color:#ff6666;font-weight:bold">$62.62</td> <td style="padding:10px 10px;text-align:center;color:#ff9900;font-size:10px">02-Sep</td> <td style="padding:10px 10px;text-align:right;color:#DEDC04;font-weight:bold;font-size:15px">2.3%</td> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold">Real Estate — Post-Earnings Reversal</div> <div style="color:rgba(255,255,255,0.55);font-family:Arial,sans-serif;font-size:10px;margin-top:4px;line-height:1.5">HHH delivered a strong Q1 beat (EPS $0.14 vs $0.08 est) yet sold off, triggering a reversal signal — same pattern as STE in Health Care. Earnings-driven discount, reversal confirmation follows.</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">33</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">1</div> <div style="color:rgba(255,255,255,0.45);font-family:Arial,sans-serif;font-size:8px;text-transform:uppercase">Pos Signal</div> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:18px;font-weight:bold;line-height:1">3</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:13px;font-weight:bold;line-height:1">HHH</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">Howard Hughes Holdings · Mixed-use real estate developer</div> <div style="color:#66cc66;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">Post-earnings reversal · Q1 beat vs est</div> <td style="padding:10px 10px;text-align:right;color:#ffffff;font-weight:bold">$64.66</td> <td style="padding:10px 10px;text-align:center"><span style="color:#ff6666">−7.0</span> · <span style="color:#66cc66">+0.857↑</span></td> <td style="padding:10px 10px;text-align:right;color:#66cc66;font-weight:bold">$68.55 · 68%</td> <td style="padding:10px 10px;text-align:right;color:#ff6666;font-weight:bold">$58.22</td> <td style="padding:10px 10px;text-align:center;color:#ff9900;font-size:10px">05-Aug</td> </tr><tr><td style="background-color:#252525;padding:20px 36px"> <p style="margin:0 0 12px 0;color:#888888;font-family:Arial,sans-serif;font-size:9px;font-weight:bold;letter-spacing:1.5px;text-transform:uppercase">Secondary Interest — Active Signals Below 1% EV Threshold</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:11px;opacity:0.8"> <tr style="border-bottom:1px solid #404040"> <th style="padding:5px 8px;text-align:left;color:#666666;font-size:8px;text-transform:uppercase">Stock · Sector</th> <th style="padding:5px 8px;text-align:center;color:#666666;font-size:8px;text-transform:uppercase">Status</th> <th style="padding:5px 8px;text-align:right;color:#666666;font-size:8px;text-transform:uppercase">Close</th> <th style="padding:5px 8px;text-align:center;color:#666666;font-size:8px;text-transform:uppercase">Q Score</th> <th style="padding:5px 8px;text-align:right;color:#666666;font-size:8px;text-transform:uppercase">TP1 · HR</th> <th style="padding:5px 8px;text-align:right;color:#666666;font-size:8px;text-transform:uppercase">SL1</th> <th style="padding:5px 8px;text-align:center;color:#666666;font-size:8px;text-transform:uppercase">Earn</th> <th style="padding:5px 8px;text-align:right;color:#666666;font-size:8px;text-transform:uppercase">Est. EV</th> </tr><tr style="border-bottom:1px solid #333333"> <td style="padding:8px 8px;color:#aaaaaa"><strong style="color:#cccccc">MSA</strong> <span style="color:#666666;font-size:10px">MSA Safety · Industrials</span></td> <td style="padding:8px 8px;text-align:center"><span style="background-color:#152030;color:#888888;font-size:8px;font-weight:bold;padding:1px 5px;border-radius:2px">NEW WK</span></td> <td style="padding:8px 8px;text-align:right;color:#cccccc;font-weight:bold">$174.69</td> <td style="padding:8px 8px;text-align:center;color:#ff6666">−5.7</td> <td style="padding:8px 8px;text-align:right;color:#aaaaaa">$182.42 · 70%</td> <td style="padding:8px 8px;text-align:right;color:#aaaaaa">$158.27</td> <td style="padding:8px 8px;text-align:center;color:#888888;font-size:10px">03-Aug</td> <td style="padding:8px 8px;text-align:right;color:#888888;font-weight:bold">0.7%</td> </tr><tr style="border-bottom:1px solid #333333;background-color:#2a2510"> <td style="padding:8px 8px;color:#aaaaaa"><strong style="color:#cccccc">SJM</strong> <span style="color:#666666;font-size:10px">J.M. Smucker · Consumer Staples</span></td> <td style="padding:8px 8px;text-align:right;color:#cccccc;font-weight:bold">$100.20</td> <td style="padding:8px 8px;text-align:center;color:#ff6666">−4.4</td> <td style="padding:8px 8px;text-align:right;color:#aaaaaa">$103.91 · 68%</td> <td style="padding:8px 8px;text-align:right;color:#aaaaaa">$89.77</td> <td style="padding:8px 8px;text-align:center;color:#ff6666;font-size:10px">09-Jun <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:8px 8px;text-align:right;color:#888888;font-weight:bold">0.6%</td> </tr><tr> <td style="padding:8px 8px;color:#aaaaaa"><strong style="color:#cccccc">BAX</strong> <span style="color:#666666;font-size:10px">Baxter International · Health Care</span></td> <td style="padding:8px 8px;text-align:center"><span style="background-color:#1a3a5c;color:rgba(255,255,200,0.8);font-size:8px;font-weight:bold;padding:1px 5px;border-radius:2px">FRI 9 MAY</span></td> <td style="padding:8px 8px;text-align:right;color:#cccccc;font-weight:bold">$17.99</td> <td style="padding:8px 8px;text-align:center;color:#ff6666">−5.9</td> <td style="padding:8px 8px;text-align:right;color:#aaaaaa">$19.52 · 62%</td> <td style="padding:8px 8px;text-align:right;color:#aaaaaa">$14.99</td> <td style="padding:8px 8px;text-align:center;color:#888888;font-size:10px">30-Jul</td> <td style="padding:8px 8px;text-align:right;color:#888888;font-weight:bold">0.5%</td> </tr><tr><td style="padding:20px 36px 0 36px;background-color:#1f1f1f"> <p style="margin:0 0 12px 0;color:#ff6666;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">▼ Conviction Negative — Exit Signals</p> </td></tr><tr style="background-color:#cc3333"> <th style="padding:7px 10px;text-align:left;color:#ffffff;font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Stock</th> <th style="padding:7px 10px;text-align:center;color:#ffffff;font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Status</th> <th style="padding:7px 10px;text-align:right;color:#ffffff;font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Close</th> <th style="padding:7px 10px;text-align:center;color:#ffffff;font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Q Score</th> <th style="padding:7px 10px;text-align:center;color:#ffffff;font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Acceleration</th> <th style="padding:7px 10px;text-align:left;color:#ffffff;font-size:8px;text-transform:uppercase;letter-spacing:0.8px">Read</th> </tr><tr style="background-color:#2a1a1a"> <td style="padding:10px 10px;border-bottom:1px solid #3d1a1a"> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:13px;font-weight:bold;line-height:1">CAR</div> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">Avis Budget Group · Industrials</div> </td><td style="padding:10px 10px;border-bottom:1px solid #3d1a1a;text-align:center"><span style="background-color:#cc3333;color:#ffffff;font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">NEW WK</span></td> <td style="padding:10px 10px;border-bottom:1px solid #3d1a1a;text-align:right;color:#ffffff;font-weight:bold">$148.76</td> <td style="padding:10px 10px;border-bottom:1px solid #3d1a1a;text-align:center;color:#66cc66;font-weight:bold">+4.9</td> <td style="padding:10px 10px;border-bottom:1px solid #3d1a1a;text-align:center;color:#ff6666;font-weight:bold">−0.857↓</td> <td style="padding:10px 10px;border-bottom:1px solid #3d1a1a;color:#d0d0d0;font-size:10px">Steepest negative acceleration in pool. New this week. <strong style="color:#ff6666">Exit.</strong></td> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:13px;font-weight:bold;line-height:1">UI</div> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">Ubiquiti Inc. · Information Technology</div> <td style="padding:10px 10px;border-bottom:1px solid #3d1a1a;text-align:center"><span style="background-color:#cc3333;color:rgba(255,220,220,0.9);font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">FRI 9 MAY</span></td> <td style="padding:10px 10px;border-bottom:1px solid #3d1a1a;text-align:right;color:#ffffff;font-weight:bold">$842.10</td> <td style="padding:10px 10px;border-bottom:1px solid #3d1a1a;text-align:center;color:#66cc66;font-weight:bold">+8.0</td> <td style="padding:10px 10px;border-bottom:1px solid #3d1a1a;text-align:center;color:#ff6666;font-weight:bold">−0.714↓</td> <td style="padding:10px 10px;border-bottom:1px solid #3d1a1a;color:#d0d0d0;font-size:10px">High score, Declining. Confirmed structural distribution.</td> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:13px;font-weight:bold;line-height:1">BMBL</div> <div style="color:#ff6666;font-family:Arial,sans-serif;font-size:9px;margin-top:2px">Bumble Inc. · Communication Services</div> <td style="padding:10px 10px;text-align:center"><span style="background-color:#cc3333;color:rgba(255,220,220,0.9);font-size:8px;font-weight:bold;padding:2px 6px;border-radius:2px">FRI 9 MAY</span></td> <td style="padding:10px 10px;text-align:right;color:#ffffff;font-weight:bold">$3.62</td> <td style="padding:10px 10px;text-align:center;color:#66cc66;font-weight:bold">+6.0</td> <td style="padding:10px 10px;text-align:center;color:#ff6666;font-weight:bold">−0.714↓</td> <td style="padding:10px 10px;color:#d0d0d0;font-size:10px">Confirmed distribution. <strong style="color:#ff6666">Exit.</strong></td> <p style="margin:12px 0 0 0;color:#888888;font-family:Arial,sans-serif;font-size:10px;line-height:1.6"><strong style="color:#aaaaaa">82 High Score Negative Reversals</strong> in universe. Highest scores: SLAB 9.71 (IT), RLMD 9.43 (HC), LWLG 9.29 (Materials), RSI 9.29 (Con. Disc), ADTN 9.14 (IT). Exit all. <strong style="color:#aaaaaa">Energy</strong> (13 HSR, 0 positive signals) and <strong style="color:#aaaaaa">Utilities</strong> (7 HSR, 0 positive signals) remain Conviction Negative at sector level.</p> </tr><tr><td style="background-color:#1f1f1f;padding:20px 36px;border-top:1px solid #333333"> <p style="margin:0;color:#777777;font-family:Arial,sans-serif;font-size:10px;line-height:1.6;text-align:center"><span style="color:rgb(138, 150, 163);font-family:Poppins, sans-serif;text-align:left;background-color:rgb(19, 22, 27)">Disclaimer: These insights are generated using AI and are provided for informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any security. The content may be incomplete or contain errors and should not be relied upon for investment decisions. Always consult a qualified financial adviser before making financial choices.</span></p></td></tr></table></td></tr></tbody></table></td></tr></tbody></table>

Quantmatix US Sectors - 11 May 2026 <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <table style="max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:28px 36px"> <p style="margin:0 0 6px 0;color:#888888;font-family:Arial,sans-serif;font-size:10px;letter-spacing:3px;text-transform:uppercase">Quantmatix · Institutional Research</p> <h1 style="margin:0 0 14px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:17px;font-weight:bold;line-height:1.4">Bullish Surge Breadth Expands to 277 Deep Positive Reversals; Tech Max Overweight with XLK +8.4% Weekly; Energy & Utilities Conviction Negative</h1> <p style="margin:0 0 16px 0;color:#cccccc;font-family:Arial,sans-serif;font-size:11px"><br /></p> <table style="border-top:1px solid #2a4060;padding-top:14px"> <tbody><tr> <td style="text-align:center;padding:0 6px"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1">7,398.93</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">SPX · ▲ Extended</div> <div style="color:#66cc66;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">Adv +2.00↑ · Q +0.4</div> </td> <td style="text-align:center;padding:0 6px;border-left:1px solid #2a4060"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1">277</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">Deep Pos. Reversals</div> <div style="color:#66cc66;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">↑ from prior period</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1">3 · 27</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">Top Q+ · TEVO</div> <div style="color:#ff9900;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">54 HSR · 2 TQ−</div> <div style="color:#DEDC04;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1">+8.4%</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">XLK Wk · Q +1.9</div> <div style="color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">Max Overweight <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></div> </td></tr> </tbody></table> </td></tr> <tr><td style="background-color:#1f1f1f;padding:28px 36px"> <p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase"><br /></p><p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">Imperative — Tactical Call to Action</p> <table style="margin-bottom:14px"> <tbody><tr> <td style="width:22px;color:#333333;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;padding-right:10px">1</td> <td style="font-family:Arial,sans-serif;font-size:12px;line-height:1.7;color:#cccccc"> <strong style="color:#66cc66">Tech — Max Overweight.</strong> XLK posted +8.4% for the week ending 8 May and is trading above its upper Q Band — the standout ETF in the universe. 62 Deep Positive Reversals in IT sector (highest breadth). All MAG7 names Advancing Positive; AMZN and GOOGL above upper band. APPN provides the single-stock IT entry in today's Top 5. Maintain and scale. </td><td style="width:22px;color:#333333;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;padding-right:10px">2</td> <strong style="color:#66cc66">Health Care — stock selection only.</strong> XLV Q=−9.4 Declining — do not use the ETF. Eight individual bullish signals (1 Top Q + 7 TEVO) make Health Care the richest signal sector in the universe. BDX (EV 8.7%), ALNY (EV 6.3%), MMSI (EV 6.0%), and ABBV (EV 5.4%) are the primary entries. <td style="width:22px;color:#333333;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;padding-right:10px">3</td> <strong style="color:#ff6666">Energy — exit all exposure.</strong> XLE declined −5.35% for the week and its price has fallen below its mid Q Band. 10 High Score Negative Reversals versus 0 Deep Positive Reversals — the most extreme exhaustion ratio in the universe. No individual bullish signals. Structural distribution confirmed. Exit now. <table> <td style="width:22px;color:#333333;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;padding-right:10px">4</td> <strong style="color:#ff6666">Reduce exhaustion positions across 54 HSR names.</strong> Utilities (XLU Q=+6.1, Declining, 6 HSR vs 0 DPR) has crossed into Exhaustion Confirmed territory — reduce immediately. BMBL and UI carry Top Q Negative signals. SLAB (Q=9.7) and RLMD (Q=9.4) are the highest-priority individual exits. <tr><td style="background-color:#2a2a2a;padding:28px 36px"> <p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase"><br /></p><p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">Top 5 Highest-Conviction Stocks — Ranked by Expected Value</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:11px"> <thead> <tr style="background-color:#152030"> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">#</th> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Ticker · Sig</th> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Sector</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Close</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Q · Accel</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">TP1 · HR</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">SL1</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">EV</th> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Earn</th> </tr></thead> <tbody> <tr style="background-color:#2a1a1a"> <td style="padding:9px 10px;color:#888888;border-bottom:1px solid #333333">1</td> <td style="padding:9px 10px;border-bottom:1px solid #333333"><strong style="color:#ffffff">PLNT</strong> <span style="background-color:#1a3a5c;color:#aaaaaa;font-size:8px;padding:1px 5px;border-radius:2px">TEVO</span></td> <td style="padding:9px 10px;color:#aaaaaa;border-bottom:1px solid #333333">Consumer Disc.</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666;font-weight:bold">$45.88</span> <span style="color:#ff6666;font-size:9px">▼−39.4%</span></td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">−8.9</span> · <span style="color:#66cc66">+0.57</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$59.20 · 79%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;border-bottom:1px solid #333333;font-weight:bold">$44.16 <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">22.5%</td> <td style="padding:9px 10px;color:#ff9900;border-bottom:1px solid #333333;font-size:10px">Aug-06</td> </tr><tr style="background-color:#1f2a1f"> <td style="padding:9px 10px;color:#888888;border-bottom:1px solid #333333">2</td> <td style="padding:9px 10px;border-bottom:1px solid #333333"><strong style="color:#ffffff">APPN</strong> <span style="background-color:#1a3a5c;color:#aaaaaa;font-size:8px;padding:1px 5px;border-radius:2px">TEVO</span></td> <td style="padding:9px 10px;color:#aaaaaa;border-bottom:1px solid #333333">Info Tech</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$21.92</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">−6.9</span> · <span style="color:#66cc66">+0.29</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$26.00 · 70%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">$19.23</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">10.4%</td> </tr><tr style="background-color:#252525"> <td style="padding:9px 10px;color:#888888;border-bottom:1px solid #333333">3</td> <td style="padding:9px 10px;border-bottom:1px solid #333333"><strong style="color:#ffffff">BDX</strong> <span style="background-color:#1a3a5c;color:#aaaaaa;font-size:8px;padding:1px 5px;border-radius:2px">TEVO</span></td> <td style="padding:9px 10px;color:#aaaaaa;border-bottom:1px solid #333333">Health Care</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$149.43</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">−9.0</span> · <span style="color:#66cc66">+0.43</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$166.20 · 85%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">$134.68</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">8.7%</td> <td style="padding:9px 10px;color:#888888;border-bottom:1px solid #333333">4</td> <td style="padding:9px 10px;border-bottom:1px solid #333333"><strong style="color:#ffffff">ALNY</strong> <span style="background-color:#1a3a5c;color:#aaaaaa;font-size:8px;padding:1px 5px;border-radius:2px">TEVO</span></td> <td style="padding:9px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$295.05</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">−7.4</span> · <span style="color:#aaaaaa">0.00→</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$329.29 · 71%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">$271.85</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">6.3%</td> <td style="padding:9px 10px;color:#ff9900;border-bottom:1px solid #333333;font-size:10px">Jul-30</td> <td style="padding:9px 10px;color:#888888">5</td> <td style="padding:9px 10px"><strong style="color:#ffffff">MMSI</strong> <span style="background-color:#1a3a5c;color:#aaaaaa;font-size:8px;padding:1px 5px;border-radius:2px">TEVO</span></td> <td style="padding:9px 10px;color:#aaaaaa">Health Care</td> <td style="padding:9px 10px;color:#ffffff;text-align:center">$61.27</td> <td style="padding:9px 10px;text-align:center"><span style="color:#ff6666">−8.1</span> · <span style="color:#aaaaaa">0.00→</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold">$68.28 · 65%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center">$58.08</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold">6.0%</td> <td style="padding:9px 10px;color:#ff9900;font-size:10px">Jul-29</td> </tr></tbody> </table> <div style="margin-top:10px;border-left:3px solid #ff6666;padding:10px 12px;background-color:#2a1a1a"> <p style="margin:0;font-family:Arial,sans-serif;font-size:11px;color:#d0d0d0;line-height:1.6"><strong style="color:#ff6666"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> PLNT SL1 Watch:</strong> Closed at $45.88 after a −39.4% weekly decline. TEVO signal remains active; EV 22.5% with TP1 $59.20 (29% upside). SL1 of $44.16 is only <strong style="color:#ffffff">$1.72 below close</strong>. Any close below $44.16 invalidates the signal. Size with extreme caution.</p> </div> <table style="margin-top:10px"> <td style="padding-right:6px"> <div style="border-left:3px solid #66cc66;padding:10px 12px;background-color:#1f1f1f"> <p style="margin:0;font-family:Arial,sans-serif;font-size:11px;color:#d0d0d0;line-height:1.6"><strong style="color:#ffffff">ABBV</strong> $201.55 <span style="background-color:#1a3a5c;color:#aaaaaa;font-size:8px;padding:1px 4px;border-radius:2px">TEVO</span> Health Care · Q −6.3, Accel +0.14, Advancing Positive. TP1 $219.08 (74%), SL1 $190.24. Earn Jul-30. EV 5.4%.</p> <td style="padding-left:6px"> <p style="margin:0;font-family:Arial,sans-serif;font-size:11px;color:#d0d0d0;line-height:1.6"><strong style="color:#ffffff">RCL</strong> $275.24 <span style="background-color:#1a3a5c;color:#aaaaaa;font-size:8px;padding:1px 4px;border-radius:2px">TEVO</span> Consumer Disc · Q −4.3, Accel +0.86, Advancing Positive. TP1 $303.62 (77%), SL1 $229.86. Earn Aug-04. EV 5.3%.</p> <p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase"><br /></p><p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">Sector Positioning — Quantmatix Framework</p> <p style="margin:0 0 12px 0;color:#666666;font-family:Arial,sans-serif;font-size:9px">DPR = Deep Positive Reversals · TQ+ = Top Quantmatix Positive · HSR = High Score Negative Reversals (Q≥7, Declining)</p> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Conviction</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">ETF · Q · Accel</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">DPR · TQ+ · TEVO · HSR</th> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Key Note</th> </td><tr style="background-color:#1a2a1a"> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Info Technology</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#152030;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">Max OW</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">XLK +1.9 · <span style="color:#66cc66;font-weight:bold">+2.429↑ +8.4%wk</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0"><span style="color:#ffffff;font-weight:bold">62</span> · 0 · 4 · <span style="color:#ff6666">7</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d;font-size:10px"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /> Bullish Breadth Surge. XLK above upper band. APPN TEVO active. SLAB/ADTN are HSR sells.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Consumer Disc.</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#22662e;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">OW</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">XLY −1.1 · <span style="color:#66cc66;font-weight:bold">+1.714↑ +1.3%wk</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0"><span style="color:#ffffff;font-weight:bold">36</span> · <span style="color:#66cc66">1</span> · <span style="color:#66cc66">4</span> · <span style="color:#ff6666">4</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d;font-size:10px">PLNT #1 <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> SL1 watch · RCL TEVO diversifier. Prefer individual signals over broad ETF.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Real Estate</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">XLRE +2.3 · <span style="color:#66cc66;font-weight:bold">+1.571↑</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0"><span style="color:#ffffff;font-weight:bold">10</span> · 0 · 0 · <span style="color:#ff6666">3</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d;font-size:10px">ETF advancing mid-upper band. No individual bullish signals today — ETF-level play.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Comm. Services</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">XLC −0.6 · <span style="color:#66cc66;font-weight:bold">+1.286↑</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0"><span style="color:#ffffff;font-weight:bold">6</span> · 0 · 0 · <span style="color:#ff6666">3</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d;font-size:10px">GOOGL Q=+2.1 above upper band. BMBL carries TQ− — exit. No new bullish signals.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Financials</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">XLF −0.7 · <span style="color:#66cc66;font-weight:bold">+1.286↑</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0"><span style="color:#ffffff;font-weight:bold">42</span> · 0 · 0 · <span style="color:#ff6666">1</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d;font-size:10px">2nd largest DPR breadth (42). No individual signals — ETF Overweight on direction alone. Weekly −1.3% vs Advancing QM signal — watch point.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Industrials</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#555555;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">Neutral</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">XLI +0.4 · <span style="color:#66cc66;font-weight:bold">+1.000↑</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0"><span style="color:#ffffff;font-weight:bold">38</span> · 0 · <span style="color:#66cc66">5</span> · <span style="color:#ff6666">5</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d;font-size:10px">5 TEVO signals actionable. Balanced sector; name-level discipline required.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Materials <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#555555;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">Neutral <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">XLB <span style="color:#ff9900">+4.0</span> · <span style="color:#66cc66;font-weight:bold">+1.286↑</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0"><span style="color:#ffffff;font-weight:bold">11</span> · <span style="color:#66cc66">1</span> · <span style="color:#66cc66">3</span> · <span style="color:#ff6666">3</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d;font-size:10px">Q=+4.0 elevated — monitor for exhaustion. GEF Top Q (EV 2.3%) primary individual entry.</td> </tr><tr style="background-color:#2a2015"> <td style="padding:8px 10px;color:#ff9900;font-weight:bold;border-bottom:1px solid #2d2d2d">Health Care <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#886622;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">Stock Select</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">XLV −9.4 · <span style="color:#aaaaaa">0.00→</span> <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> Below Mid</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0"><span style="color:#ffffff;font-weight:bold">50</span> · <span style="color:#66cc66">1</span> · <span style="color:#66cc66">7</span> · <span style="color:#ff6666">12</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d;font-size:10px"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /> Richest signal sector (8 bullish signals). ETF uninvestable. Only QM signal names actionable. 12 HSR demand strict selection.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Consumer Staples</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#886622;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">UW</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">XLP −2.9 · <span style="color:#ff6666;font-weight:bold">−0.429↓</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0"><span style="color:#ffffff;font-weight:bold">12</span> · 0 · <span style="color:#66cc66">4</span> · <span style="color:#ff6666">1</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d;font-size:10px">Declining with negative Acceleration. Reduce broad exposure; avoid new positions.</td> </tr><tr style="background-color:#2a1a1f"> <td style="padding:8px 10px;color:#ff9900;font-weight:bold;border-bottom:1px solid #2d2d2d">Utilities <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#886622;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">UW <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">XLU <span style="color:#ff9900">+6.1</span> · <span style="color:#ff6666;font-weight:bold">−0.429↓</span> <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> Below Mid</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0"><span style="color:#ffffff;font-weight:bold">1</span> · 0 · 0 · <span style="color:#ff6666">6</span></td> <td style="padding:8px 10px;color:#ff9900;border-bottom:1px solid #2d2d2d;font-size:10px;font-weight:bold">▼ EXHAUSTION CONFIRMED — 6 HSR vs 1 DPR (6:1 ratio). Reduce all exposure immediately.</td> <td style="padding:8px 10px;color:#ff6666;font-weight:bold">Energy</td> <td style="padding:8px 10px;text-align:center"><span style="background-color:#cc3333;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">Conv. Neg.</span></td> <td style="padding:8px 10px;text-align:center;color:#d0d0d0">XLE +3.7 · <span style="color:#ff6666;font-weight:bold">−1.429↓ −5.4%wk</span> <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> Below Mid</td> <td style="padding:8px 10px;text-align:center;color:#d0d0d0"><span style="color:#ffffff;font-weight:bold">0</span> · 0 · 0 · <span style="color:#ff6666">10</span></td> <td style="padding:8px 10px;color:#ff6666;font-size:10px;font-weight:bold">▼ EXHAUSTION CONFIRMED — 10 HSR vs 0 DPR. Most extreme exhaustion in universe. Exit all sector exposure.</td> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase"><br /></p><p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">Magnificent 7 + MAGS ETF — 8 May 2026</p> <p style="margin:0 0 16px 0;color:#aaaaaa;font-family:Arial,sans-serif;font-size:11px;line-height:1.6">All MAG7 Advancing Positive · MAGS basket fastest accelerating (+2.714) <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /> · AMZN & GOOGL above their upper Q Bands · NVDA approaching upper band · META below mid band — watch</p> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Name</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Q Score</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Accel.</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Band Position</th> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Earnings</th> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">AMZN</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+2.6</td> <td style="padding:7px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+2.429 ↑</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$272.68</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">▲ Extended</td> <td style="padding:7px 10px;color:#aaaaaa;border-bottom:1px solid #2d2d2d">Jul-30</td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">GOOGL</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+2.1</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+2.000 ↑</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$400.80</td> <td style="padding:7px 10px;color:#aaaaaa;border-bottom:1px solid #2d2d2d">Jul-22</td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">GOOG</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+2.0</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+1.857 ↑</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$397.05</td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">NVDA</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+1.7</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+1.714 ↑</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$215.20</td> <td style="padding:7px 10px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">≈ At Upper</td> <td style="padding:7px 10px;color:#ff6666;font-weight:bold;border-bottom:1px solid #2d2d2d">May-20 <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">AAPL</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+0.7</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$293.32</td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">META</td> <td style="padding:7px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">−0.3</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+1.000 ↑</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$609.63</td> <td style="padding:7px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> Below Mid</td> <td style="padding:7px 10px;color:#aaaaaa;border-bottom:1px solid #2d2d2d">Jul-29</td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">TSLA</td> <td style="padding:7px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">−3.0</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+1.429 ↑</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$428.35</td> <td style="padding:7px 10px;color:#d0d0d0;text-align:center;border-bottom:1px solid #2d2d2d">Mid–Upper</td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">MSFT</td> <td style="padding:7px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">−3.6</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$415.12</td> </tr><tr style="background-color:#2a2510"> <td style="padding:7px 10px;color:#ff9900;font-weight:bold;border-bottom:1px solid #444422">MAGS ETF <span style="color:#888888;font-size:9px;font-weight:normal">Roundhill Basket</span></td> <td style="padding:7px 10px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #444422">+0.9</td> <td style="padding:7px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #444422">+2.714 ↑ <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #444422">$69.62</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #444422">▲ Extended</td> <td style="padding:7px 10px;color:#ff9900;border-bottom:1px solid #444422">ETF baseline</td> </tr><tr><td style="background-color:#1f1f1f;padding:16px 36px;border-top:1px solid #333333"> <p style="margin:0;color:#777777;font-family:Arial,sans-serif;font-size:10px;line-height:1.6;text-align:center"><span style="font-weight:bolder;color:rgb(153, 153, 153)">Disclaimer: </span><span style="font-family:Poppins, sans-serif;color:rgb(153, 153, 153)">These insights are generated using AI and are provided for informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any security. The content may be incomplete or contain errors and should not be relied upon for investment decisions. Always consult a qualified financial adviser before making financial choices.</span></p> </td></tr><tr><td style="background-color:#152030;padding:16px 36px;text-align:center"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold">Quantmatix · Institutional Research · 11 May 2026</p></td></tr></div></td></table></td></tr></table></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table>

Quantmatix US Sectors - 3 May 2026 <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <table style="max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:28px 36px"> <p style="margin:0 0 6px 0;color:#888888;font-family:Arial,sans-serif;font-size:10px;letter-spacing:3px;text-transform:uppercase">Quantmatix · Institutional Research</p> <h1 style="margin:0 0 14px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:17px;font-weight:bold;line-height:1.4">US Sector Research Note — Bullish Inflection Surge Active; MAGS Basket Accelerating Fastest; 260 Deep Positive Reversals; Health Care Signals Dominant; Energy Peaks as Iran War Premium Fades</h1> <table style="border-top:1px solid #2a4060;padding-top:14px"> <tbody><tr> <td style="text-align:center;padding:0 6px"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1">7,230</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">SPX · Year High</div> <div style="color:#66cc66;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">Advancing · Q −1.6</div> </td> <td style="text-align:center;padding:0 6px;border-left:1px solid #2a4060"> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1">260</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">Deep Pos. Reversals</div> <div style="color:#66cc66;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">Russell 1000</div> <div style="color:#ffffff;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1">13 · 23</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">Top Q · TEVO</div> <div style="color:#ff9900;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">40 HSR · 0 Top Q Neg</div> <div style="color:#DEDC04;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1">+2.14</div> <div style="color:#888888;font-family:Arial,sans-serif;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">MAGS Accel.</div> <div style="color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;margin-top:2px">Fastest in universe <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></div> </td></tr> </tbody></table> </td></tr> <tr><td style="background-color:#1f1f1f;padding:28px 36px"> <p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase"><br /></p><p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">Imperative — Tactical Call to Action</p> <table style="margin-bottom:14px"> <tbody><tr> <td style="width:22px;color:#333333;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;padding-right:10px">1</td> <td style="font-family:Arial,sans-serif;font-size:12px;line-height:1.7;color:#cccccc"> <strong style="color:#66cc66">Conviction Positive — PODD ($175.04) and IDXX ($567.46):</strong> highest EV in the Health Care signal cluster. PODD TP1 $198.37 at 76%; IDXX TP1 $608.19 at 84%. Both Advancing Positive with SL1 defined. Health Care ETF sector backdrop negative — focus exclusively on Top Q/TEVO individual signals. </td><td style="width:22px;color:#333333;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;padding-right:10px">2</td> <strong style="color:#66cc66">Conviction Positive — RUN ($13.06) and LW ($43.86):</strong> top-ranked Top Q Positive names by EV. RUN TP1 $15.62 (72%), SL1 $8.74. LW TP1 $47.31 (85%) — highest TP1 probability in Top Q cluster. Sector diversification into Industrials and Consumer Staples. <td style="width:22px;color:#333333;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;padding-right:10px">3</td> <strong style="color:#ff6666">Conviction Negative — Energy:</strong> XLE Q=+5.1 declining (Chg −1.00 — weakest in universe). BP (Q=7.3), SM (Q=7.4), PTEN (Q=7.4), MPC (Q=7.1) all HSR. Iran War oil premium fully priced in. Declining QChg confirms institutional momentum peak. Exit all Energy exposure. <table> <td style="width:22px;color:#333333;font-family:Arial,sans-serif;font-size:20px;font-weight:bold;line-height:1;padding-right:10px">4</td> <strong style="color:#ff6666">Conviction Negative — Consumer Staples and Utilities HSR names:</strong> XLP Q=−2.4, Chg −0.86 Declining. Utilities watch: IDA Q=8.1, AEP Q=7.9, AEE Q=7.1 all HSR. Real Estate data centres EQIX (Q=9.1) and DLR (Q=8.4) also HSR — Conviction Negative on all named names. <tr><td style="background-color:#2a2a2a;padding:28px 36px"> <p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase"><br /></p><p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">Top 5 Highest-Conviction Stocks — Ranked by Expected Value</p> <table style="border-collapse:collapse;font-family:Arial,sans-serif;font-size:11px"> <thead> <tr style="background-color:#152030"> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">#</th> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Ticker · Sig</th> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Sector</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Close</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Q · QChg</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">TP1 · HR</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">SL1</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">EV</th> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Earn</th> </tr></thead> <tbody> <tr style="background-color:#1f2a1f"> <td style="padding:9px 10px;color:#888888;border-bottom:1px solid #333333">1</td> <td style="padding:9px 10px;border-bottom:1px solid #333333"><strong style="color:#ffffff">PODD</strong> <span style="background-color:#1a3a5c;color:#aaaaaa;font-size:8px;padding:1px 5px;border-radius:2px">TEVO</span></td> <td style="padding:9px 10px;color:#aaaaaa;border-bottom:1px solid #333333">Health Care</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$175.04</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">−8.3</span> · <span style="color:#66cc66">+0.86</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$198.37 · 76%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">$163.77</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">8.7%</td> <td style="padding:9px 10px;color:#ff6666;border-bottom:1px solid #333333;font-size:10px;font-weight:bold">6 May <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> </tr><tr style="background-color:#252525"> <td style="padding:9px 10px;color:#888888;border-bottom:1px solid #333333">2</td> <td style="padding:9px 10px;border-bottom:1px solid #333333"><strong style="color:#ffffff">ALNY</strong> <span style="background-color:#1a3a5c;color:#aaaaaa;font-size:8px;padding:1px 5px;border-radius:2px">TEVO</span></td> <td style="padding:9px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$296.11</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">−7.4</span> · <span style="color:#ff9900">0.00</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$335.35 · 71%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">$275.97</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">7.9%</td> <td style="padding:9px 10px;color:#aaaaaa;border-bottom:1px solid #333333;font-size:10px">30 Jul</td> <td style="padding:9px 10px;color:#888888;border-bottom:1px solid #333333">3</td> <td style="padding:9px 10px;border-bottom:1px solid #333333"><strong style="color:#ffffff">TOL</strong> <span style="background-color:#1a3a5c;color:#aaaaaa;font-size:8px;padding:1px 5px;border-radius:2px">TEVO</span></td> <td style="padding:9px 10px;color:#aaaaaa;border-bottom:1px solid #333333">Consumer Disc.</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$139.84</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">−5.7</span> · <span style="color:#ff6666">−0.14</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$154.73 · 77%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">$128.22</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">6.6%</td> <td style="padding:9px 10px;color:#ff9900;border-bottom:1px solid #333333;font-size:10px">19 May <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:9px 10px;color:#888888;border-bottom:1px solid #333333">4</td> <td style="padding:9px 10px;border-bottom:1px solid #333333"><strong style="color:#ffffff">RUN</strong> <span style="background-color:#152030;color:#aaaaaa;font-size:8px;padding:1px 5px;border-radius:2px">Top Q <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></span></td> <td style="padding:9px 10px;color:#aaaaaa;border-bottom:1px solid #333333">Industrials</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$13.06</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">−8.7</span> · <span style="color:#66cc66">+0.43</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$15.62 · 72%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">$8.74</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">6.2%</td> <td style="padding:9px 10px;color:#888888">5</td> <td style="padding:9px 10px"><strong style="color:#ffffff">FICO</strong> <span style="background-color:#1a3a5c;color:#aaaaaa;font-size:8px;padding:1px 5px;border-radius:2px">TEVO</span></td> <td style="padding:9px 10px;color:#aaaaaa">Info Tech</td> <td style="padding:9px 10px;color:#ffffff;text-align:center">$1,035.50</td> <td style="padding:9px 10px;text-align:center"><span style="color:#ff6666">−8.1</span> · <span style="color:#66cc66">+0.86</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold">$1,161.28 · 74%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center">$848.32</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold">5.3%</td> <td style="padding:9px 10px;color:#aaaaaa;font-size:10px">29 Jul</td> </tr></tbody> </table> <table style="margin-top:10px"> <td style="padding-right:6px"> <div style="border-left:3px solid #66cc66;padding:10px 12px;background-color:#1f1f1f"> <p style="margin:0;font-family:Arial,sans-serif;font-size:11px;color:#d0d0d0;line-height:1.6"><strong style="color:#ffffff">LW</strong> $43.86 <span style="background-color:#152030;color:#ffffff;font-size:8px;padding:1px 4px;border-radius:2px">Top Q <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></span> Consumer Staples · Q −6.4, QChg +0.86. <strong style="color:#ffffff">85% TP1 hit rate</strong> — highest in Top Q cluster. TP1 $47.31, SL1 $36.33. Earn 22 Jul.</p> </div> </td><td style="padding-left:6px"> <p style="margin:0;font-family:Arial,sans-serif;font-size:11px;color:#d0d0d0;line-height:1.6"><strong style="color:#ffffff">IDXX</strong> $567.46 <span style="background-color:#152030;color:#ffffff;font-size:8px;padding:1px 4px;border-radius:2px">Top Q <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></span> Health Care · Q −8.7, QChg +0.43. TP1 $608.19 at <strong style="color:#ffffff">84%</strong> — second highest in universe. SL1 $510.38.</p> <p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase"><br /></p><p style="margin:0 0 16px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">Sector Positioning — Quantmatix Framework</p> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Conviction</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">ETF Q · QChg</th> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Key Signals</th> </td><tr style="background-color:#1a2a1a"> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Info Technology</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#152030;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">Max OW</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">−0.6 · <span style="color:#66cc66;font-weight:bold">+1.86 ↑</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d">Fastest accelerating. GOOGL/AMZN Q crossed positive. NVDA Q=0.0. FICO TEVO · QLYS TEVO.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Financials</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#22662e;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">OW</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">−2.0 · <span style="color:#66cc66;font-weight:bold">+1.43 ↑</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d">PRU Top Q (Q=−6.7, TP1 $103.14, 69%). GPN TEVO · FIBK TEVO.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Consumer Disc.</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">−2.9 · <span style="color:#66cc66;font-weight:bold">+1.43 ↑</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d">TOL TEVO (TP1 $154.73, 77%) · CMG (TP1 $36.48, 75%) · CRMT · BOOT. Top Q: RH, THO.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Comm. Services</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">−1.9 · <span style="color:#66cc66;font-weight:bold">+1.14 ↑</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d">GOOGL Q=+0.1 (Chg+1.57) · AMZN Q=+0.1 (Chg+1.86) · META Q=−1.3 improving.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Industrials</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#555555;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">Neutral+</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">−0.6 · <span style="color:#66cc66;font-weight:bold">+0.86 ↑</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d">RUN Top Q · HEI TEVO (TP1 $290, 73%) · EXPD Top Q (TP1 $155.89, 82%) · MMM TEVO.</td> </tr><tr style="background-color:#2a2015"> <td style="padding:8px 10px;color:#ff9900;font-weight:bold;border-bottom:1px solid #2d2d2d">Health Care <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#886622;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">Stock Select</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">−9.4 · <span style="color:#ff6666;font-weight:bold">−0.86 ↓</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d">ETF deeply negative — do not scale. Individual signals only: PODD, ALNY, IDXX, LLY, CSTL, EBS.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Utilities</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#555555;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">Watch</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">+6.6 · <span style="color:#aaaaaa;font-weight:bold">+0.14 →</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d">High score, momentum stalling. IDA (Q=8.1), AEP (Q=7.9), AEE (Q=7.1) HSR — Conviction Negative.</td> <td style="padding:8px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">Consumer Staples</td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d"><span style="background-color:#886622;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">UW</span></td> <td style="padding:8px 10px;text-align:center;border-bottom:1px solid #2d2d2d;color:#d0d0d0">−2.4 · <span style="color:#ff6666;font-weight:bold">−0.86 ↓</span></td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #2d2d2d">ETF Declining. LW only Top Q exception within sector.</td> </tr><tr style="background-color:#2a1a1a"> <td style="padding:8px 10px;color:#ff6666;font-weight:bold">Energy</td> <td style="padding:8px 10px;text-align:center"><span style="background-color:#cc3333;color:#ffffff;font-size:9px;font-weight:bold;padding:2px 6px;border-radius:2px">Conv. Neg.</span></td> <td style="padding:8px 10px;text-align:center;color:#d0d0d0">+5.1 · <span style="color:#ff6666;font-weight:bold">−1.00 ↓</span></td> <td style="padding:8px 10px;color:#ff6666">Sharpest decline in universe. BP, SM, PTEN, MPC, PR all HSR. Iran War premium priced in. Exit.</td> <p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase"><br /></p><p style="margin:0 0 6px 0;color:#DEDC04;font-family:Arial,sans-serif;font-size:10px;font-weight:bold;letter-spacing:2.5px;text-transform:uppercase">Magnificent 7 + MAGS ETF — 1 May 2026</p> <p style="margin:0 0 16px 0;color:#aaaaaa;font-family:Arial,sans-serif;font-size:11px;line-height:1.6">All eight components Advancing Positive · MAGS basket fastest accelerating (+2.14) <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /> · GOOGL & AMZN Q crossed positive · NVDA at 0.0 — imminent crossing · MSFT deepest score, solid recovery momentum</p> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Name</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Q Score</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Accel.</th> <th style="padding:8px 10px;text-align:center;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">May 1 %</th> <th style="padding:8px 10px;text-align:left;color:#aaaaaa;font-size:9px;text-transform:uppercase;letter-spacing:0.5px;border-bottom:2px solid #2a4060">Earnings</th> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">GOOGL</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+0.1</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+1.57 ↑</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+0.23%</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$385.69</td> <td style="padding:7px 10px;color:#aaaaaa;border-bottom:1px solid #2d2d2d">22 Jul</td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">AMZN</td> <td style="padding:7px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+1.86 ↑</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+1.21%</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$268.26</td> <td style="padding:7px 10px;color:#aaaaaa;border-bottom:1px solid #2d2d2d">30 Jul</td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">NVDA</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">0.0</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+1.43 ↑</td> <td style="padding:7px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">−0.56%</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$198.45</td> <td style="padding:7px 10px;color:#ff6666;font-weight:bold;border-bottom:1px solid #2d2d2d">20 May <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">AAPL</td> <td style="padding:7px 10px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">−1.0</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+1.00 ↑</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+3.24%</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$280.14</td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">META</td> <td style="padding:7px 10px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">−1.3</td> <td style="padding:7px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">−0.52%</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$608.75</td> <td style="padding:7px 10px;color:#aaaaaa;border-bottom:1px solid #2d2d2d">29 Jul</td> </tr><tr style="background-color:#2a2510"> <td style="padding:7px 10px;color:#ff9900;font-weight:bold;border-bottom:1px solid #444422">MAGS ETF <span style="color:#888888;font-size:9px;font-weight:normal">Roundhill Basket</span></td> <td style="padding:7px 10px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #444422">−1.9</td> <td style="padding:7px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #444422">+2.14 ↑ <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></td> <td style="padding:7px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #444422">—</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #444422">$66.87</td> <td style="padding:7px 10px;color:#ff9900;border-bottom:1px solid #444422">ETF baseline</td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #2d2d2d">TSLA</td> <td style="padding:7px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">−4.4</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+0.86 ↑</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #2d2d2d">+2.41%</td> <td style="padding:7px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #2d2d2d">$390.82</td> <td style="padding:7px 10px;color:#ffffff;font-weight:bold">MSFT</td> <td style="padding:7px 10px;color:#ff6666;text-align:center;font-weight:bold">−5.0</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold">+1.29 ↑</td> <td style="padding:7px 10px;color:#66cc66;text-align:center;font-weight:bold">+1.63%</td> <td style="padding:7px 10px;color:#ffffff;text-align:center">$414.44</td> <td style="padding:7px 10px;color:#aaaaaa">29 Jul</td> </tr><tr><td style="background-color:#1f1f1f;padding:16px 36px;border-top:1px solid #333333"> <p style="margin:0;color:#777777;font-family:Arial,sans-serif;font-size:10px;line-height:1.6;text-align:center"><strong style="color:#999999">Disclaimer: </strong><span style="color:rgb(153, 153, 153);font-family:Poppins, sans-serif">These insights are generated using AI and are provided for informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any security. The content may be incomplete or contain errors and should not be relied upon for investment decisions. Always consult a qualified financial adviser before making financial choices.</span></p> </td></tr><tr><td style="background-color:#152030;padding:16px 36px;text-align:center"> <p style="margin:0;color:#DEDC04;font-family:Arial,sans-serif;font-size:11px;font-weight:bold">Quantmatix · Institutional Research · 3 May 2026</p></td></tr></table></td></tr></table></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table>

Quantmatix US Sectors - April 27, 2026 <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"><table style="background-color:#2a2a2a;max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:30px 40px;text-align:center"> <p style="margin:0 0 8px 0;color:#aaaaaa;font-size:11px;letter-spacing:3px;text-transform:uppercase;font-family:Arial,sans-serif">Quantmatix · Institutional Research</p> <h2 style="margin:0 0 15px 0;color:#DEDC04;font-size:18px;font-weight:bold;line-height:1.4">US Sector Research Note — Surge Accelerates to 261 Deep Positive Reversals; Consumer Discretionary Signal Surge to 5 Top Q; Super Bowl Wednesday Ahead</h2> <br /> </td></tr> <tr><td style="padding:40px 40px 50px 40px;background-color:#1f1f1f"> <h3 style="margin:0 0 18px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 18px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Executive Summary</h3> <p style="margin:0 0 14px 0;color:#d0d0d0;font-size:14px;line-height:1.8">The Quantmatix Bullish Inflection Surge is <strong style="color:#ffffff">accelerating</strong>. Deep Positive Reversals increased from 253 to <strong style="color:#ffffff">261</strong> this session — confirmation the large-scale mobilisation of stocks from deeply negative Q Score territory into Positive reversal direction is broadening, not stalling. SPX printed <strong style="color:#ffffff">7,165.1</strong> (Q Score −3.0, QChg +1.14), maintaining Positive direction and holding above the Lower Q Band at 7,135.</p> <p style="margin:0 0 14px 0;color:#d0d0d0;font-size:14px;line-height:1.8">Information Technology leads breadth at <strong style="color:#ffffff">80.6% advancing</strong>, followed by Financials at <strong style="color:#ffffff">80.3%</strong>. The session's most significant structural development is Consumer Discretionary, where Top Q Positive signals have surged from 2 to <strong style="color:#DEDC04">5 names</strong> — a sector-level broadening event. All seven MAG7 components carry Positive direction heading into the biggest earnings catalyst of the year.</p> <div style="background-color:#252525;border-left:3px solid #DEDC04;padding:14px;margin-top:5px"> <p style="margin:0 0 8px 0;color:#ffffff;font-size:13px;font-weight:bold">Market Context</p> <p style="margin:0 0 6px 0;color:#d0d0d0;font-size:13px;line-height:1.7">· Wednesday 29 April = <strong style="color:#DEDC04">"Wall Street's Super Bowl"</strong> — GOOG, AMZN, META and MSFT report alongside Powell's final Fed press conference as FOMC Chair</p> <p style="margin:0 0 6px 0;color:#d0d0d0;font-size:13px;line-height:1.7">· NVIDIA returned to <strong style="color:#66cc66">all-time highs (+4.3%)</strong> — structural bull framework confirmation</p> <p style="margin:0 0 6px 0;color:#d0d0d0;font-size:13px;line-height:1.7">· Healthcare (XLV) lags −1.4% on sub-sector pressures; individual TQP/TEVO signals remain intact. DHR $172.5M settlement clears primary legal overhang</p> <p style="margin:0;color:#d0d0d0;font-size:13px;line-height:1.7">· Consumer Discretionary TQP surge (5 active) aligns with improving consumer spending data and easing energy cost pressures</p> </div> </td></tr><tr><td style="padding:40px 40px 50px 40px;background-color:#2a2a2a"> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">S&P 500 (SPX) — Index Snapshot · 24 Apr Close</h3> <table> <tbody><tr> <td style="padding:14px;background-color:#1f1f1f;text-align:center;width:25%;border-right:1px solid #333333"> <div style="color:#ff9900;font-size:22px;font-weight:bold">−3.0</div> <div style="color:#aaaaaa;font-size:11px;text-transform:uppercase;letter-spacing:0.5px;margin-top:4px">Q Score</div> <div style="color:#66cc66;font-size:11px;margin-top:4px">Positive · +1.14 ↑</div> </td> <div style="color:#ffffff;font-size:22px;font-weight:bold">7,165</div> <div style="color:#aaaaaa;font-size:11px;text-transform:uppercase;letter-spacing:0.5px;margin-top:4px">Close</div> <div style="color:#aaaaaa;font-size:11px;margin-top:4px">Q Band Lower: 7,135</div> <div style="color:#66cc66;font-size:22px;font-weight:bold">64.8%</div> <div style="color:#aaaaaa;font-size:11px;text-transform:uppercase;letter-spacing:0.5px;margin-top:4px">Breadth</div> <div style="color:#aaaaaa;font-size:11px;margin-top:4px">1,278 / 1,971 Positive</div> <td style="padding:14px;background-color:#1f1f1f;text-align:center;width:25%"> <div style="color:#66cc66;font-size:22px;font-weight:bold">1,216</div> <div style="color:#aaaaaa;font-size:11px;text-transform:uppercase;letter-spacing:0.5px;margin-top:4px">Advancing</div> <div style="color:#ff6666;font-size:11px;margin-top:4px">625 Declining</div> </td></tr> </tbody></table> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Portfolio Positioning — Actionable Framework</h3> <table style="border-collapse:collapse;font-size:12px"> <thead> <tr style="background-color:#152030"> <th style="padding:9px 10px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Sector</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Positioning</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">% Pos</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Avg QChg</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">DPR</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">TQP · TEVO</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">HSR</th> <th style="padding:9px 10px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Key Signals</th> </tr></thead> <tbody> <tr style="background-color:#1a2a1a"> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Information Technology</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="background-color:#152030;color:#ffffff;font-size:10px;font-weight:bold;padding:2px 7px;border-radius:2px">Max OW</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">80.6%</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.59</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #333333">69</td> <td style="padding:9px 10px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">1 · 6</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">3</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:11px">CTSH <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> earn 29 Apr · QLYS · SOUN · MDB · BLKB</td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Financials</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">80.3%</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.60</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #333333">63</td> <td style="padding:9px 10px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">1 · 3</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">2</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:11px">VRTS · WAL · FBK · XLF/KBE ETF preferred</td> </tr><tr style="background-color:#1e2a1e"> <td style="padding:9px 10px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">Consumer Disc <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /> SURGE</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="background-color:#66cc66;color:#111111;font-size:10px;font-weight:bold;padding:2px 7px;border-radius:2px">OW ↑</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">71.7%</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.44</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #333333">24</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">5 · 1</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">1</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:11px">PLNT · YETI · AEO (avoid F/BC — earn imm.)</td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Health Care</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="background-color:#66cc66;color:#111111;font-size:10px;font-weight:bold;padding:2px 7px;border-radius:2px">OW</span></td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">60.5%</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.24</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #333333">42</td> <td style="padding:9px 10px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333;font-weight:bold">7 · 5</td> <td style="padding:9px 10px;color:#ff9900;text-align:center;border-bottom:1px solid #333333;font-weight:bold">11</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:11px">DHR (SL watch) · GRAL · NTRA · PGNY · ISRG</td> </tr><tr style="background-color:#252525"> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Industrials</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="background-color:#888888;color:#ffffff;font-size:10px;font-weight:bold;padding:2px 7px;border-radius:2px">Neutral+</span></td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">62.4%</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.20</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">20</td> <td style="padding:9px 10px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">1 · 2</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:11px">HEI (TEVO, EV 12.1%) — primary long</td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Comm Services</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="background-color:#888888;color:#ffffff;font-size:10px;font-weight:bold;padding:2px 7px;border-radius:2px">Neutral</span></td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">67.1%</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">11</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">0 · 0</td> <td style="padding:9px 10px;color:#ff9900;text-align:center;border-bottom:1px solid #333333">3</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:11px">No structural signals. IRDM HSR — reduce.</td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Real Estate</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">51.4%</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">+0.07</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">13</td> <td style="padding:9px 10px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">2 · 0</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">0</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:11px">REXR (TQP) · WY (TQP) — monitor</td> </tr><tr style="background-color:#2a2020"> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Materials</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="background-color:#886622;color:#ffffff;font-size:10px;font-weight:bold;padding:2px 7px;border-radius:2px">UW</span></td> <td style="padding:9px 10px;color:#ff9900;text-align:center;border-bottom:1px solid #333333">44.7%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−0.08</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">1 · 1</td> <td style="padding:9px 10px;color:#ff9900;text-align:center;border-bottom:1px solid #333333">4</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:11px">MLM only notable signal</td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Consumer Staples</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">32.4%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−0.42</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:11px">No signals. Structural decline. Reduce.</td> </tr><tr style="background-color:#2a1a1a"> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Energy</td> <td style="padding:9px 10px;text-align:center;border-bottom:1px solid #333333"><span style="background-color:#cc3333;color:#ffffff;font-size:10px;font-weight:bold;padding:2px 7px;border-radius:2px">Max UW</span></td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">32.3%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−0.26</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">17</td> <td style="padding:9px 10px;color:#ff6666;border-bottom:1px solid #333333;font-size:11px;font-weight:bold">Avg QScore +4.57 declining. Exit all.</td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold">Utilities</td> <td style="padding:9px 10px;text-align:center"><span style="background-color:#cc3333;color:#ffffff;font-size:10px;font-weight:bold;padding:2px 7px;border-radius:2px">Max UW</span></td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold">30.9%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold">−0.30</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center">2</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center">0 · 0</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold">10</td> <td style="padding:9px 10px;color:#ff6666;font-size:11px;font-weight:bold">AWK earn 29 Apr — EXIT TODAY. DTE earn 30 Apr.</td> </tr></tbody> </table> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Key Sector Signals — Detailed</h3> <div style="margin-bottom:20px;padding:16px;background-color:#1f1f1f;border-top:3px solid #152030"> <p style="margin:0 0 10px 0;color:#ffffff;font-size:14px;font-weight:bold">Information Technology <span style="background-color:#152030;color:#ffffff;font-size:10px;padding:2px 8px;border-radius:2px;margin-left:6px;vertical-align:middle">Max Overweight</span></p> <p style="margin:0 0 8px 0;color:#999999;font-size:12px">1 TQP · 6 TEVO · 69 DPR · XLK +2.7% · NVDA ATH</p> <table style="font-size:12px"> <tbody><tr style="background-color:#252525"> <td style="color:#66cc66;font-weight:bold">QLYS TEVO — Primary IT long</td> <td style="color:#d0d0d0;text-align:right">Q −7.4 · +0.14 · $84.34 · T1 $98.19 · 72% · EV <strong style="color:#66cc66">+9.6%</strong> · Earn 5 May ✓</td> </tr><tr style="background-color:#1f1f1f"> <td style="color:#ff9900;font-weight:bold">CTSH TEVO — Half-weight max <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="color:#d0d0d0;text-align:right">Q −9.3 · −0.14 · $55.11 · SL1 $54.31 ($0.80 away) · EV <strong style="color:#ff9900">+10.9%</strong> · Earn 29 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="color:#66cc66">MDB Top Q · SOUN TEVO · BLKB TEVO <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="color:#d0d0d0;text-align:right">MDB: Q −8.7 EV +3.2% · SOUN: EV +4.1% · BLKB earn 29 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="color:#ff6666;font-weight:bold">Reduce: NTCT HSR +9.1 · UI HSR +9.0</td> <td style="color:#ff6666;text-align:right">Exit despite sector strength</td> <p style="margin:0 0 10px 0;color:#ffffff;font-size:14px;font-weight:bold">Financials <span style="background-color:#152030;color:#ffffff;font-size:10px;padding:2px 8px;border-radius:2px;margin-left:6px;vertical-align:middle">Max Overweight</span></p> <p style="margin:0 0 8px 0;color:#999999;font-size:12px">1 TQP · 3 TEVO · 63 DPR · 80.3% advancing · XLF/KBE ETF primary vehicle</p> <td style="color:#66cc66;font-weight:bold">VRTS TEVO — Highest EV in sector</td> <td style="color:#d0d0d0;text-align:right">Q −6.9 · +0.86 · $143.14 · T1 $149.75 · 73% · EV +0.4% · Earn 1 May</td> <td style="color:#66cc66;font-weight:bold">WAL TEVO — Strong momentum</td> <td style="color:#d0d0d0;text-align:right">Q −4.1 · QChg +1.14 · $79.44 · T1 $83.26 · 75%</td> <td style="color:#66cc66">FBK Top Q — Strongest QChg in sector</td> <td style="color:#d0d0d0;text-align:right">Q −4.0 · QChg +1.71 · $53.58 · Long earnings runway Jul</td> <td style="color:#ff6666;font-weight:bold">VIRT HSR +8.7 — EXIT TODAY</td> <td style="color:#ff6666;text-align:right">QChg −0.43 · $48.53 · Earns 29 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <div style="margin-bottom:20px;padding:16px;background-color:#1e2a1e;border-top:3px solid #DEDC04"> <p style="margin:0 0 6px 0;color:#DEDC04;font-size:14px;font-weight:bold">Consumer Discretionary <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /> SIGNAL SURGE — TQP 2 → 5 <span style="background-color:#66cc66;color:#111111;font-size:10px;padding:2px 8px;border-radius:2px;margin-left:6px;vertical-align:middle">Overweight ↑</span></p> <p style="margin:0 0 10px 0;color:#999999;font-size:12px">Sector-level broadening event · 71.7% advancing · 24 DPR</p> <tbody><tr style="background-color:#1f2a1f"> <td style="color:#66cc66;font-weight:bold">PLNT TEVO — Primary vehicle</td> <td style="color:#d0d0d0;text-align:right">Q −9.4 · 0.00 · $69.62 · T1 $77.30 · 79% · EV <strong style="color:#66cc66">+8.0%</strong> · Earn 7 May</td> <td style="color:#66cc66;font-weight:bold">YETI Top Q — Strongest QChg in cohort</td> <td style="color:#d0d0d0;text-align:right">Q −6.1 · QChg +1.43 · $39.96 · T1 $42.60 · 74% · EV +1.6% · Earn 7 May</td> </tr><tr style="background-color:#1f2a1f"> <td style="color:#66cc66">AEO Top Q — Safe earnings window</td> <td style="color:#d0d0d0;text-align:right">Q −8.1 · +0.71 · $17.91 · T1 $20.03 · 56% · EV +0.2% · Earn 28 May ✓</td> <td style="color:#ff6666;font-weight:bold">Avoid F (earn 29 Apr) · BC (earn 30 Apr)</td> <td style="color:#ff6666;text-align:right">Binary risk — wait for post-results confirmation</td> <td style="color:#ff9900">Reduce: TPH HSR +8.7</td> <td style="color:#ff9900;text-align:right">QChg −0.57 — reduce on any strength</td> <div style="margin-bottom:20px;padding:16px;background-color:#1f1f1f;border-top:3px solid #66cc66"> <p style="margin:0 0 10px 0;color:#ffffff;font-size:14px;font-weight:bold">Health Care <span style="background-color:#66cc66;color:#111111;font-size:10px;padding:2px 8px;border-radius:2px;margin-left:6px;vertical-align:middle">Overweight</span> <span style="color:#999999;font-size:12px;margin-left:6px">7 TQP · 5 TEVO · 42 DPR · XLV −1.4% — sector soft, signals intact</span></p> <td style="color:#ff9900;font-weight:bold">DHR TEVO — Watch SL <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="color:#d0d0d0;text-align:right">Q −8.4 · 0.00 · $177.25 · T1 $204.37 · 79% · SL1 $176.11 ($1.14 away) · EV <strong style="color:#66cc66">+12.0%</strong></td> <td style="color:#66cc66">GRAL Top Q — Directional only (~18m data)</td> <td style="color:#d0d0d0;text-align:right">Q −8.6 · +0.57 · $54.42 · Earn 5 May</td> <td style="color:#66cc66;font-weight:bold">NTRA Top Q — Strong momentum</td> <td style="color:#d0d0d0;text-align:right">Q −6.0 · QChg +1.14 · $203.75 · T1 $221.56 · 75% · EV +3.2% · Earn 7 May</td> <td style="color:#66cc66">PGNY · ISRG TEVO</td> <td style="color:#d0d0d0;text-align:right">PGNY: EV +4.3% earn 7 May · ISRG: EV +2.2% earn Jul</td> <td style="color:#ff6666;font-weight:bold">ANIK HSR +9.0 — EXIT TODAY</td> <td style="color:#ff6666;text-align:right">QChg −0.43 · $15.37 · Earn 29 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="color:#ff6666;font-weight:bold">BCRX Top Q Neg +8.7 · LXRX Top Q Neg</td> <td style="color:#ff6666;text-align:right">BCRX: immediate exit · earn 6 May. LXRX: exit</td> <td style="color:#ff9900">Reduce: MASI HSR +9.1</td> <td style="color:#ff9900;text-align:right">$178.63 — reduce on any strength</td> <div style="margin-bottom:20px;padding:16px;background-color:#1f1f1f;border-top:3px solid #888888"> <p style="margin:0 0 10px 0;color:#ffffff;font-size:14px;font-weight:bold">Industrials <span style="background-color:#888888;color:#ffffff;font-size:10px;padding:2px 8px;border-radius:2px;margin-left:6px;vertical-align:middle">Neutral / Positive</span></p> <td style="color:#66cc66;font-weight:bold">HEI TEVO — Anchor long</td> <td style="color:#d0d0d0;text-align:right">Q −8.9 · 0.00 · $264.04 · T1 $309.56 · 73% · SL1 $256.71 · EV <strong style="color:#66cc66">+12.1%</strong> · Earn 26 May</td> <td style="color:#ff9900">Reduce: BW HSR +8.4</td> <td style="color:#ff9900;text-align:right">QChg −0.57 — reduce</td> <div style="padding:16px;background-color:#2a1a1a;border-top:3px solid #cc3333"> <p style="margin:0 0 10px 0;color:#ff6666;font-size:14px;font-weight:bold">Energy & Utilities — Max Underweight · Exit All </p> <tbody><tr style="background-color:#331a1a"> <td style="color:#ff6666;font-weight:bold">AWK Top Q Neg +4.1 — EXIT TODAY</td> <td style="color:#ff6666;text-align:right;font-weight:bold">Earns TOMORROW 29 Apr · exit immediately</td> <td style="color:#ff6666;font-weight:bold">DTE Top Q Neg +6.6 — EXIT TODAY</td> <td style="color:#ff6666;text-align:right;font-weight:bold">QChg −0.86 · Earns 30 Apr · exit today</td> </tr><tr style="background-color:#331a1a"> <td style="color:#ff9900">AEE Top Q Neg +7.1 · WEC Top Q Neg +6.0</td> <td style="color:#ff9900;text-align:right">Both earn 5 May · exit · XLU/IDU ETFs exit all</td> <td style="color:#ff9900">IRDM HSR +9.0</td> <td style="color:#ff9900;text-align:right">QChg −0.57 · $38.96 — reduce on any bounce</td> <td colspan="2" style="color:#ff6666;font-size:12px;padding:8px;background-color:#2a1111;border:1px solid #cc3333">Energy: avg QScore +4.57 / avg QChg −0.26. Fading Bull Momentum confirmed. 17 HSR — the most concentrated exhaustion cluster in the tape. No reversal signals active. Exit all Energy without exception.</td> <h3 style="margin:0 0 18px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 18px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Bullish Inflection Surge — Accelerating</h3> <p style="margin:0 0 18px 0;color:#d0d0d0;font-size:13px;line-height:1.8">A large-scale mobilisation of stocks from Q Score −4 to −10 turning Positive in reversal direction. When DPR counts increase session-over-session (253 → 261), backtesting confirms this is the highest-confidence scaling signal. 549.5% 10Y return vs 221.9% benchmark, Profit Factor 2.1, avg win +16–18% vs avg loss −8%, Sharpe 1.01–1.19.</p> <td style="text-align:center;padding:16px;background-color:#252525;border-right:1px solid #333333"> <div style="color:#ffffff;font-size:36px;font-weight:bold;line-height:1">261</div> <div style="color:#66cc66;font-size:12px;margin-top:4px">↑ from 253</div> <div style="color:#aaaaaa;font-size:11px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">Deep Positive Reversals</div> <div style="color:#ffffff;font-size:28px;font-weight:bold;line-height:1">19</div> <div style="color:#66cc66;font-size:12px;margin-top:4px">↑ from 16</div> <div style="color:#aaaaaa;font-size:11px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">Top Q Positive</div> <div style="color:#ffffff;font-size:28px;font-weight:bold;line-height:1">18</div> <div style="color:#aaaaaa;font-size:12px;margin-top:4px">Swing EV signals</div> <div style="color:#aaaaaa;font-size:11px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">TEVO Signals</div> </td><td style="text-align:center;padding:16px;background-color:#252525"> <div style="color:#DEDC04;font-size:28px;font-weight:bold;line-height:1">549.5%</div> <div style="color:#aaaaaa;font-size:12px;margin-top:4px">vs 221.9% benchmark</div> <div style="color:#aaaaaa;font-size:11px;text-transform:uppercase;letter-spacing:0.5px;margin-top:3px">10-Year Return</div> <h3 style="margin:0 0 18px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 18px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Magnificent Seven — All Positive Direction · Hold Into Super Bowl Wednesday 29 Apr</h3> <th style="padding:9px 10px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Ticker</th> <th style="padding:9px 10px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Name</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Q Score</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Q Chg</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Px Change</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Earnings</th> </td><td style="padding:9px 10px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">NVDA <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333">NVIDIA Corp.</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−1.4</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.43</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+4.3%</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">20 May</td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">GOOG</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333">Alphabet Inc.</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−1.6</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.4%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">29 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">AMZN</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333">Amazon.com, Inc.</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−1.7</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.71</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+3.4%</td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">AAPL</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333">Apple Inc.</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−2.0</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.43</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−0.9%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">30 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">META</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333">Meta Platforms</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−2.3</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.14</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+2.4%</td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">TSLA</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333">Tesla, Inc.</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−5.3</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.86</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.7%</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">22 Jul</td> <td style="padding:9px 10px;color:#DEDC04;font-weight:bold">MSFT <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></td> <td style="padding:9px 10px;color:#d0d0d0">Microsoft Corp.</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold">−6.3</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold">+0.71</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold">+2.1%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold">29 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <p style="margin:12px 0 0 0;color:#aaaaaa;font-size:12px;line-height:1.7">All 7 MAG7 carry Positive direction. NVDA's return to all-time highs is the key structural bull confirmation. MSFT (Q Score −6.3, deepest in MAG7) has the most recovery runway and is up +2.1%. <strong style="color:#ffffff">Quantmatix signals no exit for any MAG7 name. Hold all positions.</strong></p> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Top 5 Highest-Conviction Stocks — Ranked by Signal Hierarchy then EV</h3> <th style="padding:9px 10px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Sig</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">QChg</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Close</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">T1 · HR</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">SL1</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">EV</th> <th style="padding:9px 10px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Earn · Action</th> <td style="padding:9px 10px;color:#aaaaaa;border-bottom:1px solid #333333;font-size:10px">TEVO</td> <td style="padding:9px 10px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">HEI</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333">Industrials</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−8.9</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">0.00</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$264.04</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$309.56 · 73%</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$256.71</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+12.1%</td> <td style="padding:9px 10px;color:#66cc66;border-bottom:1px solid #333333;font-size:11px;text-align:center">26 May · Hold · Anchor</td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">DHR</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333">Health Care</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−8.4</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$177.25</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$204.37 · 79%</td> <td style="padding:9px 10px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$176.11 <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+12.0%</td> <td style="padding:9px 10px;color:#ff9900;border-bottom:1px solid #333333;font-size:11px;text-align:center">28 Jul · Hold · Hard Stop $176</td> </tr><tr style="background-color:#1a2020"> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">CTSH</td> <td style="padding:9px 10px;color:#d0d0d0;border-bottom:1px solid #333333">IT</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−9.3</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−0.14</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$55.11</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$64.75 · 64%</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$54.31 <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+10.9%</td> <td style="padding:9px 10px;color:#ff6666;border-bottom:1px solid #333333;font-size:11px;text-align:center">29 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> · Half-weight · Wait post-earn</td> <td style="padding:9px 10px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">QLYS</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−7.4</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.14</td> <td style="padding:9px 10px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$84.34</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$98.19 · 72%</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$74.24</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+9.6%</td> <td style="padding:9px 10px;color:#66cc66;border-bottom:1px solid #333333;font-size:11px;text-align:center">5 May · Hold · Primary IT</td> <td style="padding:9px 10px;color:#aaaaaa;font-size:10px">TEVO</td> <td style="padding:9px 10px;color:#DEDC04;font-weight:bold">PLNT</td> <td style="padding:9px 10px;color:#d0d0d0">Consumer Disc</td> <td style="padding:9px 10px;color:#ff6666;text-align:center;font-weight:bold">−9.4</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center">0.00</td> <td style="padding:9px 10px;color:#ffffff;text-align:center">$69.62</td> <td style="padding:9px 10px;color:#66cc66;text-align:center;font-weight:bold">$77.30 · 79%</td> <td style="padding:9px 10px;color:#aaaaaa;text-align:center">$65.43</td> <td style="padding:9px 10px;color:#DEDC04;text-align:center;font-weight:bold">+8.0%</td> <td style="padding:9px 10px;color:#66cc66;font-size:11px;text-align:center">7 May <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> · Hold · Sector surge</td> <p style="margin:20px 0 10px 0;color:#ff6666;font-size:13px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Priority Exits — Today</p> <th style="padding:8px 10px;text-align:left;color:#ff6666;border-bottom:1px solid #444444">Signal</th> <th style="padding:8px 10px;text-align:left;color:#ff6666;border-bottom:1px solid #444444">Ticker</th> <th style="padding:8px 10px;text-align:left;color:#ff6666;border-bottom:1px solid #444444">Sector</th> <th style="padding:8px 10px;text-align:center;color:#ff6666;border-bottom:1px solid #444444">Q Score</th> <th style="padding:8px 10px;text-align:left;color:#ff6666;border-bottom:1px solid #444444">Reason · Action</th> <td style="padding:8px 10px;color:#aaaaaa;border-bottom:1px solid #333333;font-size:10px">Top Q Neg</td> <td style="padding:8px 10px;color:#ff6666;font-weight:bold;border-bottom:1px solid #333333">AWK</td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #333333">Utilities</td> <td style="padding:8px 10px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+4.1</td> <td style="padding:8px 10px;color:#ff6666;font-weight:bold;border-bottom:1px solid #333333">Earns TOMORROW 29 Apr — EXIT TODAY</td> </tr><tr style="background-color:#1f1515"> <td style="padding:8px 10px;color:#aaaaaa;border-bottom:1px solid #333333;font-size:10px">HSR</td> <td style="padding:8px 10px;color:#ff6666;font-weight:bold;border-bottom:1px solid #333333">ANIK</td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #333333">Health Care</td> <td style="padding:8px 10px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+9.0</td> <td style="padding:8px 10px;color:#ff6666;font-weight:bold;border-bottom:1px solid #333333">VIRT</td> <td style="padding:8px 10px;color:#d0d0d0;border-bottom:1px solid #333333">Financials</td> <td style="padding:8px 10px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+8.7</td> <td style="padding:8px 10px;color:#aaaaaa;font-size:10px">Top Q Neg</td> <td style="padding:8px 10px;color:#ff6666;font-weight:bold">DTE</td> <td style="padding:8px 10px;color:#d0d0d0">Utilities</td> <td style="padding:8px 10px;color:#ff9900;text-align:center;font-weight:bold">+6.6</td> <td style="padding:8px 10px;color:#ff6666;font-weight:bold">Earns 30 Apr — EXIT TODAY</td> </tr><tr><td style="padding:40px;background-color:#2a2a2a"> <h3 style="margin:0 0 22px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 22px 0;color:#DEDC04;font-size:16px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Imperative — Tactical Call to Action · 27 April 2026</h3> <div style="margin-bottom:18px;display:table;width:100%"> <div style="display:table-cell;vertical-align:top;padding-right:14px;width:24px"> <span style="color:#404040;font-size:22px;font-weight:bold;line-height:1">1</span> <div style="display:table-cell;vertical-align:top"> <p style="margin:0;color:#d0d0d0;font-size:13px;line-height:1.8"><strong style="color:#ffffff">Exit AWK, ANIK, VIRT and DTE before today's close — all report tomorrow or Wednesday.</strong> AWK (Top Q Neg, earn 29 Apr), ANIK (HSR +9.0, earn 29 Apr), VIRT (HSR +8.7, earn 29 Apr) and DTE (Top Q Neg, earn 30 Apr) all carry exhaustion signals going into binary events. Holding any of these with a Quantmatix exit signal active is an avoidable and unnecessary risk. No exceptions.</p> <span style="color:#404040;font-size:22px;font-weight:bold;line-height:1">2</span> <p style="margin:0;color:#d0d0d0;font-size:13px;line-height:1.8"><strong style="color:#ffffff">Scale Consumer Discretionary exposure — sector TQP signals surged from 2 to 5.</strong> This is the session's most significant structural signal development. Add to PLNT (TEVO, EV +8.0%) as the primary vehicle. Supplement with YETI (TQP, QChg +1.43) and AEO (TQP, safe earnings window 28 May). Avoid F (earns today/tomorrow) and BC (earns 30 Apr). A 5-TQP cluster in a single sector is a high-conviction breadth broadening signal that warrants increased allocation.</p> <span style="color:#404040;font-size:22px;font-weight:bold;line-height:1">3</span> <p style="margin:0;color:#d0d0d0;font-size:13px;line-height:1.8"><strong style="color:#ffffff">Reduce CTSH to half-weight maximum — EV +10.9% but earnings binary risk tomorrow.</strong> The signal is compelling (Q Score −9.3, deepest in IT) but SL1 at $54.31 is $0.80 away from current price. A miss tomorrow triggers the stop automatically. For new IT exposure, QLYS (EV +9.6%, earn 5 May) is the cleaner alternative. Both DHR (SL1 $176.11, $1.14 away) and CTSH require active position management today before the close.</p> <div style="display:table;width:100%"> <span style="color:#404040;font-size:22px;font-weight:bold;line-height:1">4</span> <p style="margin:0;color:#d0d0d0;font-size:13px;line-height:1.8"><strong style="color:#ffffff">Hold all 7 MAG7 positions into Super Bowl Wednesday (29 Apr) — no pre-emptive exits.</strong> GOOG, AMZN, META and MSFT all report Wednesday alongside Powell's final FOMC press conference. All four carry Positive direction with positive QChg. NVDA has confirmed the bull framework by returning to all-time highs (+4.3%). MSFT (Q Score −6.3, deepest in MAG7) has the greatest recovery runway. The Quantmatix framework signals no exit on any MAG7 name.</p> <tr><td style="padding:25px 40px;background-color:#1f1f1f;border-top:1px solid #404040"> <p style="margin:0;color:#999999;font-size:12px;line-height:1.7;text-align:center"><strong style="color:#bbbbbb"><br /></strong></p><p style="margin:0;color:#999999;font-size:12px;line-height:1.7;text-align:center"><strong style="color:#bbbbbb">Disclaimer:</strong> These insights are generated using AI and are provided for informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any security. The content may be incomplete or contain errors and should not be relied upon for investment decisions. Always consult a qualified financial adviser before making financial choices.</p> </td></tr><tr><td style="background-color:#152030;padding:25px 40px;text-align:center"> <p style="margin:0 0 5px 0;color:#DEDC04;font-size:12px;font-weight:bold"><br /></p></td></tr></div></div></div></div></td></tr></tbody></div></div></div></tr></tbody></div></tr></tbody></table></div></td></tr></tbody></table></td></tr></tbody></table>

Quantmatix Europe Research - April 26, 2026 <table style="background-color:#1a1a1a"> <tbody><tr><td style="padding:20px 0"> <table style="background-color:#2a2a2a;max-width:600px"> <tbody><tr><td style="background-color:#152030;padding:30px 40px;text-align:center"> <h1 style="margin:0 0 10px 0;color:#ffffff;font-size:24px;font-weight:bold;line-height:1.3">Quantmatix Research</h1> <h2 style="margin:0 0 15px 0;color:#DEDC04;font-size:17px;font-weight:normal;line-height:1.4">European Bullish Inflection Surge Builds — SAP & Novo Nordisk Confirm Signals on Friday Earnings<br />UK Distressed Value (BUR) Tops EV Book · Cut FTSE 100 Energy & Defensive HSR</h2> <p style="margin:0;color:#ffffff;font-size:14px">Sunday 26 April, 2026</p> <p style="margin:5px 0 0 0;color:#DEDC04;font-size:13px;font-style:italic">Prepared by: Liam Boggan, CEO & Founder, Head of Research</p> </td></tr> <tr><td style="padding:40px 40px 50px 40px;background-color:#1f1f1f"> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Regime Snapshot — Friday Close · 24 April 2026</h3> <table style="border-collapse:collapse;font-size:13px"> <tbody> <tr style="background-color:#252525"> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Index Tape · SX5E / SXXP</td> <td style="padding:10px 12px;color:#ff9900;text-align:right;font-weight:bold;border-bottom:1px solid #333333">SX5E −5.4 · QChg +1.00 ↑ · Positive · Close 5,883</td> </tr> <tr style="background-color:#2a2a2a"> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Breadth</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">Surge Building · 60.6% · 1,424 / 2,348 Advancing</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Dominant Signal</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">Bullish Inflection Surge · 233 DPR · 26 Top Q Pos · 16 TEVO</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Friday Action</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">SAP +4.7% Q1 cloud beat · NOVO-B +5.4% Phase III data · Both TEVO confirmed</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Risk / Exhaustion</td> <td style="padding:10px 12px;color:#ff6666;text-align:right;font-weight:bold;border-bottom:1px solid #333333">57 HSR · 2 Top Q Neg · Exit Energy (SHEL +7.0 · TTE +7.7 · ENI +7.3)</td> <td style="padding:10px 12px;color:#d0d0d0">Index Laggard</td> <td style="padding:10px 12px;color:#ff6666;text-align:right;font-weight:bold">FTSE 100 Q −0.6 · QChg −0.43 · Negative · SXXP only major index Negative direction</td> </tr></tbody> </table> </td></tr><tr><td style="padding:40px 40px 50px 40px;background-color:#2a2a2a"> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Executive Summary</h3> <p style="margin:0 0 15px 0;color:#d0d0d0;font-size:15px;line-height:1.8">The European Quantmatix framework is in a <strong style="color:#ffffff">building Bullish Inflection Surge</strong>. The signal architecture mirrors what triggered in the US framework two weeks ago: 233 Deep Positive Reversals, 26 Top Q Positive, 16 TEVO, and only 2 Top Q Negative — exhaustion is confined to a narrow defensive cluster while breadth accumulates broadly across Industrials, Financials, Consumer Discretionary, IT and Health Care (36 DPRs each).</p> <p style="margin:0 0 15px 0;color:#d0d0d0;font-size:15px;line-height:1.8">Friday validated the framework on the two highest-profile names: <strong style="color:#ffffff">SAP closed +4.7% on a Q1 cloud-revenue beat confirming TEVO</strong>, and <strong style="color:#ffffff">Novo Nordisk closed +5.4% on positive Phase III oral semaglutide pediatric data, also confirming TEVO</strong>. Both had Q Score ≤ −7.7 with Positive direction — Quantmatix flagged accumulation, the catalysts delivered.</p> <p style="margin:0;color:#d0d0d0;font-size:15px;line-height:1.8">Three conclusions: <strong style="color:#ffffff">BUR.L is the highest-EV trade in the European book at +18.9%</strong> — a deep distressed value reversal at Q Score −9.4. SAP and Novo's Friday confirmations are signal-confirming, not signal-exhausting — <strong style="color:#ffffff">hold both into target</strong>. The FTSE 100 Energy and defensive Health Care HSR clusters must be cut — Shell, TotalEnergies, AstraZeneca, GSK, Novartis, Roche and Nestlé all carry exhaustion characteristics.</p> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Top 5 Highest-Conviction Stocks — Ranked by Expected Value</h3> <p style="margin:0 0 25px 0;color:#999999;font-size:13px">Intraday prices · ★ = dual signal (Top Q Positive + TEVO)</p> <thead> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">#</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Name</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Score · Chg</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Entry · T1 · HR</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">SL1</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">EV · Earn</th> </thead> </td><td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">1</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">BUR.L TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">Burford Capital · UK Financials / Litigation Finance</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−9.4 · +0.14</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">£3.38 · £4.42 · 74%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">£2.64 · 17%</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+18.9%</span><br /><span style="color:#aaaaaa;font-size:12px">16 Jun</span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">2</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">CCL.L TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">Carnival · UK Consumer Discretionary</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−5.1 · +0.57</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">£19.72 · £22.81 · 71%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">£16.96</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+7.6%</span><br /><span style="color:#aaaaaa;font-size:12px">24 Jun</span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">3</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">IWG.L TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">Int'l Workplace Group · Real Estate</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−7.0 · +0.14</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">£1.858 · £2.083 · 70%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">£1.675</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+5.8%</span><br /><span style="color:#aaaaaa;font-size:12px">11 Aug</span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">4</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">ATE.PA ★ Dual Signal<br /><span style="color:#999999;font-weight:normal;font-size:12px">Alten S.A. · French IT Services</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−5.3 · +0.43</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">€56.65 · €60.99 · 78%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">€48.63</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+3.5%</span><br /><span style="color:#aaaaaa;font-size:12px">24 Sep</span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">5</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">RMS.PA TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">Hermès · French Luxury</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−4.7 · +0.29</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">€1,648 · €1,781 · 67%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">€1,490</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+3.0%</span><br /><span style="color:#aaaaaa;font-size:12px">29 Jul</span></td> <p style="margin:25px 0 12px 0;color:#ffffff;font-size:14px;font-weight:bold">Sector Diversifiers</p> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">MRK.DE ★ Top Q — Merck KGaA · DAX Health Care</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−6.3 · +1.00</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">€111.90 · T1 €118.35 · 78% · Earn 13 May</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">SCHP.SW TEVO — Schindler · Swiss Industrials <span style="color:#ff9900;font-weight:normal;font-size:12px"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> Watch — SMI Negative direction</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center">−7.1 · +0.43</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold">CHF 277 · T1 CHF 286 · 69% · Earn 21 Jul</td> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Friday Catalyst Confirmations — Hold · Do Not Fade</h3> <div style="margin-bottom:16px;padding:15px;background-color:#1a2a1a;border-left:3px solid #66cc66"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">SAP.DE TEVO — +4.7% Friday · Q1 Cloud Beat Confirms</p> <p style="margin:0 0 8px 0;color:#d0d0d0;font-size:13px">Q Score −7.7 · QChg +0.57 ↑ · Close €147.28 · T1 €161.30 · 61% HR · SL1 €129.70</p> <p style="margin:0;color:#aaaaaa;font-size:13px;line-height:1.7">SAP printed Q1 EPS +20% YoY with cloud revenue accelerating. The TEVO signal was active going into the print and is now signal-confirmed. The market was short SAP on AI-disruption fears; the result has reset that narrative. <strong style="color:#ffffff">Do not fade strength — hold to TP1.</strong></p> </div> <div style="padding:15px;background-color:#1a2a1a;border-left:3px solid #66cc66"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">NOVO-B.CO TEVO — +5.4% Friday · Phase III Pediatric Data Confirms</p> <p style="margin:0 0 8px 0;color:#d0d0d0;font-size:13px">Q Score −7.7 · QChg +0.57 ↑ · Close DKK 259.95 · T1 DKK 278.69 · 76% HR · SL1 DKK 197.25</p> <p style="margin:0;color:#aaaaaa;font-size:13px;line-height:1.7">Strong Phase III HbA1c data for oral semaglutide in adolescents — first oral GLP-1 in the pediatric T2D market. The 5.4% Friday move is signal-confirming, not signal-exhausting. Earnings 6 May is the second confirmation catalyst. <strong style="color:#ffffff">Hold to TP1; do not trim into strength.</strong></p> <div style="margin-top:16px;padding:15px;background-color:#2a1f1a;border-left:3px solid #886622"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">ASML.AS — No Signal · Do Not Chase</p> <p style="margin:0 0 5px 0;color:#ff9900;font-size:13px">Q Score +2.9 · Negative reversal direction · No Top Q or TEVO signal · MATCH Act overhang</p> <p style="margin:0;color:#aaaaaa;font-size:13px;line-height:1.7">+2.1% Friday on AI-infrastructure narrative. The Quantmatix framework does not corroborate the move. For European IT exposure use ATE.PA (dual-signal) instead.</p> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Bullish Inflection Surge — European Framework Building</h3> <p style="margin:0 0 20px 0;color:#d0d0d0;font-size:14px;line-height:1.8">233 Deep Positive Reversals across the European universe — broad mobilisation of stocks from Q Score −4 to −10 into Positive reversal direction. The condition mirrors the US framework's mid-cycle build phase. Only 2 Top Q Negative names (BETCO.ST, BORG.ST) versus 26 Top Q Positive — exhaustion is a small fraction of the accumulation side.</p> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;text-align:center"><span style="color:#ffffff;font-size:20px;font-weight:bold">233</span><br /><span style="color:#aaaaaa;font-size:11px">Deep Positive Reversals</span></td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;text-align:center"><span style="color:#ffffff;font-size:20px;font-weight:bold">26</span><br /><span style="color:#aaaaaa;font-size:11px">Top Q Positive</span></td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;text-align:center"><span style="color:#ffffff;font-size:20px;font-weight:bold">16</span><br /><span style="color:#aaaaaa;font-size:11px">TEVO Signals</span></td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;text-align:center"><span style="color:#ffffff;font-size:20px;font-weight:bold">549.5%</span><br /><span style="color:#aaaaaa;font-size:11px">10-Year Return</span></td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;text-align:center"><span style="color:#ffffff;font-size:20px;font-weight:bold">2.1</span><br /><span style="color:#aaaaaa;font-size:11px">Profit Factor</span></td> <p style="margin:15px 0 0 0;color:#999999;font-size:12px">Sector DPR counts: Industrials 36 · Financials 36 · Cons Disc 36 · IT 36 · Health Care 20. Friday's SAP +4.7% and Novo +5.4% are exactly the asymmetric event-window catalysts the backtested framework targets — both were Quantmatix-flagged TEVO before the catalyst.</p> <h3 style="margin:0 0 10px 0;color:#ff6666;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 10px 0;color:#ff6666;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Exhaustion & Top Q Negative — Reduce / Exit</h3> <p style="margin:0 0 20px 0;color:#999999;font-size:13px">HSR = Q Score ≥ +7 · Negative Reversal Direction · 57 HSR names total — defensive & UK Energy concentrated</p> <div style="margin-bottom:16px;padding:15px;background-color:#2a1a1a;border-left:3px solid #cc3333"> <p style="margin:0 0 5px 0;color:#ff6666;font-size:13px;font-weight:bold;text-transform:uppercase"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /> Exit Now — UK Energy HSR</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">SHEL.L (+7.0) · TTE (+7.7) · ENI (+7.3)</p> <p style="margin:0;color:#aaaaaa;font-size:13px;line-height:1.7">Energy sector at the bottom of the European table: 35.1% advancing, QChg −0.21, just 1 Top Q Positive across 57 names. The largest HSR cluster by index weight. Exit TotalEnergies, Shell, ENI across UK / French / Italian energy books.</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">DAX / SMI Defensive Health Care HSR — Reduce All</p> <p style="margin:0 0 5px 0;color:#d0d0d0;font-size:13px">AZN.L +2.6 / Negative dir (Friday −3.7%) · GSK.L +3.6 / Negative (−2.7%) · NOVN.SW +1.7 / Negative (−2.2%) · NESN.SW +2.0 / Negative · ROG.SW −7.0 / Negative / QChg −2.14 deteriorating</p> <p style="margin:0;color:#aaaaaa;font-size:13px">Reduce all ex-Merck-KGaA, ex-Novo-Nordisk Health Care exposure. Roche is worst-positioned mega-cap.</p> <div style="margin-bottom:16px;padding:15px;background-color:#2a2020;border-left:3px solid #886622"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:14px;font-weight:bold">UK Defensive HSR — Tobacco / Insurance / Utilities</p> <p style="margin:0;color:#aaaaaa;font-size:13px">BEZ.L (Beazley) +7.4 · BCVN.SW (Banque Cantonale Vaudoise) +7.9 · ENG.SM (Enagas) +8.1 (earn 29 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" />) · EMSN.SW (Ems-Chemie) +8.3. Defensive yield-trade exhaustion cluster — reduce.</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:14px;font-weight:bold">Materials & Mining HSR</p> <p style="margin:0;color:#aaaaaa;font-size:13px">GLEN.L (Glencore) +7.1 · RIO.L +2.6 Negative reversal · STOXX 600 Basic Resources ETF −1.7% Friday. Reduce HSR names; do not add.</p> <div style="padding:15px;background-color:#2a1a1a;border-left:3px solid #cc3333"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:14px;font-weight:bold">Top Q Negative — 2 Swedish Names · Structural Exits</p> <p style="margin:0 0 5px 0;color:#d0d0d0;font-size:13px"><strong style="color:#ffffff">BORG.ST</strong> (Björn Borg) · Q +4.7 · QChg −0.57 ↓ · Earnings 29 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> — <strong style="color:#ff6666">Exit before binary</strong></p> <p style="margin:0;color:#d0d0d0;font-size:13px"><strong style="color:#ffffff">BETCO.ST</strong> (Better Collective) · Q +7.6 · QChg −0.57 ↓ · Earnings 20 May — Exit / Reduce</p> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">GRANOLAS+ Mega-Caps — Score Distribution & Friday Moves</h3> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Ticker</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Q Score</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Q Chg</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Direction</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Friday</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Action</th> <tr style="background-color:#1a2a1a"> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">NOVO-B.CO ★</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−7.7</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.57</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;border-bottom:1px solid #333333">Positive · TEVO</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+5.4% <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333;font-size:12px">Hold — Phase III confirms</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">SAP.DE ★</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+4.7% <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333;font-size:12px">Hold — Q1 cloud beat confirms</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">MC.PA</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−8.0</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.43</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;border-bottom:1px solid #333333">Positive</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−0.7%</td> <td style="padding:10px 12px;color:#aaaaaa;border-bottom:1px solid #333333;font-size:12px">Watch — pre-signal accumulation</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">RMS.PA ★</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−4.7</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.29</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−1.6%</td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333;font-size:12px">Hold — luxury anchor</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">OR.PA</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−5.1</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;border-bottom:1px solid #333333">+0.4%</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">SAN.PA</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.3</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.86</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;border-bottom:1px solid #333333">Positive <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/2b50.png?v=61548701430" class="not-responsive emoji emoji-android emoji--star" style="height:23px;width:auto;vertical-align:middle" title="⭐" alt="⭐" /></td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−2.1%</td> <td style="padding:10px 12px;color:#aaaaaa;border-bottom:1px solid #333333;font-size:12px">Watch</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">ASML.AS</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+2.9</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;border-bottom:1px solid #333333">+2.1%</td> <td style="padding:10px 12px;color:#ff9900;border-bottom:1px solid #333333;font-size:12px">No signal — do not chase</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">NESN.SW</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+2.0</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−0.14</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">Negative</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;border-bottom:1px solid #333333">+1.5%</td> <td style="padding:10px 12px;color:#ff6666;border-bottom:1px solid #333333;font-size:12px">Reduce — defensive exhaustion</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">NOVN.SW</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.7</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−1.14</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−2.2%</td> <td style="padding:10px 12px;color:#ff6666;border-bottom:1px solid #333333;font-size:12px">Reduce — exhaustion confirmed</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">AZN.L</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+2.6</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−3.7%</td> <td style="padding:10px 12px;color:#ff6666;border-bottom:1px solid #333333;font-size:12px">Exit — pre-Q1 weakness confirms</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">GSK.L</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+3.6</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−0.86</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−2.7%</td> <td style="padding:10px 12px;color:#ff6666;border-bottom:1px solid #333333;font-size:12px">Exit — defensive exhaustion</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">ROG.SW</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold">−7.0</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold">−2.14</td> <td style="padding:10px 12px;color:#ff6666;text-align:center">Negative</td> <td style="padding:10px 12px;color:#66cc66;text-align:center">+0.5%</td> <td style="padding:10px 12px;color:#ff6666;font-size:12px"><strong>Reduce — QChg deteriorating fastest</strong></td> <p style="margin:12px 0 0 0;color:#aaaaaa;font-size:12px">NOVO-B and SAP are the standout GRANOLAS+ opportunities — both deepest Q Score (−7.7), Positive direction, TEVO active, both confirmed by Friday catalysts. Hermès, MC, OR, ATE form the French Positive-direction luxury/tech cluster — accumulation candidates.</p> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">European Index Level — Q Score vs Friday Close</h3> </tr><tr style="background-color:#1f1f1f"> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Index</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Close</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Fri %</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Read</th> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Euro Stoxx 50 (SX5E)</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−5.4</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.00</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">5,883</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−0.2%</td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333;font-size:12px">Strongest QChg — primary benchmark</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">CAC 40 (FCHI)</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−3.0</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.71</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">8,201</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;border-bottom:1px solid #333333">+0.3%</td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333;font-size:12px">Only major index green Friday — RMS / ATE / OR</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">AEX</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−1.3</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.14</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">1,021</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;border-bottom:1px solid #333333">+0.6%</td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333;font-size:12px">Strong tape — ASML, ADYEN driving</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">DAX (GDAXI)</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−3.6</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.86</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">24,129</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−0.1%</td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333;font-size:12px">German cyclical recovery — SAP/MRK driving</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">FTSE MIB</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−1.0</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.29</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">47,656</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−0.5%</td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333;font-size:12px">Italian recovery — strong QChg</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">IBEX 35</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−2.7</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">17,691</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−1.1%</td> <td style="padding:10px 12px;color:#aaaaaa;border-bottom:1px solid #333333;font-size:12px">Spain Positive QChg — Friday weak</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Stoxx 600 (SXXP)</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−4.3</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−0.43</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">611</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−0.6%</td> <td style="padding:10px 12px;color:#ff6666;border-bottom:1px solid #333333;font-size:12px">Only major index Negative direction — UK weight drag</td> </tr><tr style="background-color:#2a1a1a"> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">FTSE 100 (UKX)</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−0.6</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">10,379</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">−0.8%</td> <td style="padding:10px 12px;color:#ff6666;border-bottom:1px solid #333333;font-size:12px">Negative direction · Energy / Pharma HSR drag</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">SMI (SSMI)</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold">−6.1</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold">−0.71</td> <td style="padding:10px 12px;color:#ffffff;text-align:center">13,170</td> <td style="padding:10px 12px;color:#ff6666;text-align:center">−0.6%</td> <td style="padding:10px 12px;color:#ff6666;font-size:12px"><strong>Worst-positioned — NESN / NOVN / ROG drag</strong></td> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Portfolio Positioning — European Sector Framework</h3> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Sector</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Positioning</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">% Pos</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">DPR</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Context</th> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Information Technology</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">Max OW</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">71.9%</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #333333">36</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:12px">SAP +4.7% confirms TEVO. ATE.PA dual signal. Tech ETF +1.7% — sector leader.</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Financials</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">70.8%</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:12px">BUR.L #1 EV in book. Banks ETF −0.8% — single-name selection critical.</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Consumer Discretionary</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">Overweight</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">62.9%</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:12px">Highest TEVO count. CCL EV +7.6%. RMS / MC luxury cohort Positive direction.</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Communication Services</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">67.7%</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #333333">21</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:12px">FOUR.L QChg +1.14 — strongest in TQP cluster.</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Health Care</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">60.7%</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #333333">20</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:12px"><strong style="color:#ffffff">Selective</strong>: NOVO-B +5.4% & MRK.DE the long names. AZN/GSK/NOVN/ROG/NESN — exit defensive cluster.</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Industrials</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;font-weight:bold;border-bottom:1px solid #333333">Neutral</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">62.2%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">36</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:12px">SHL.SW + FDR.MC + JM.ST carrying TEVO. Net constructive but breadth modest.</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Materials</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">54.1%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">8</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:12px">Resources ETF −1.7% Friday — selective only.</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Utilities</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">52.7%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">3</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:12px">No structural signals. Avoid — defensive trade not aligned with surge.</td> </tr><tr style="background-color:#2a2020"> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Real Estate</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">Underweight</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">45.2%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">7</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:12px">IWG.L is the single TEVO long. Below-50% advancing — single-name only.</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Consumer Staples</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">37.5%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">4</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333;font-size:12px">Structural weakness. Reduce ex-OR.PA.</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">Energy</td> <td style="padding:10px 12px;color:#cc3333;text-align:center;font-weight:bold">Max UW</td> <td style="padding:10px 12px;color:#cc3333;text-align:center;font-weight:bold">35.1%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center">1</td> <td style="padding:10px 12px;color:#ff6666;font-size:12px"><strong>Worst sector. Shell +7.0 / TTE +7.7 / ENI +7.3 HSR. Exit all UK / French / Italian Energy now.</strong></td> </tr><tr><td style="padding:40px;background-color:#2a2a2a"> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Imperative — Tactical Call to Action</h3> <div style="margin-bottom:20px"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">1 — Establish BUR.L at £3.38 — the highest-EV trade in the European book at +18.9%</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">Q Score −9.4 with Positive direction and Positive reversal direction is the deepest, cleanest distressed-value setup in the framework. TP1 £4.42 at 74% probability. Signal characteristics match the asymmetric setups that drove the 549.5% backtested 10-year edge. Sized appropriately for the wide stop, this is the single highest-conviction position.</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">2 — Hold SAP.DE €147.28 and NOVO-B.CO DKK 259.95 — Friday confirmed both TEVO signals</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">SAP +4.7% on Q1 cloud beat and Novo +5.4% on Phase III pediatric oral semaglutide are signal-confirming catalysts, not signal-exhausting moves. Do not fade. Novo's 6 May earnings is the second confirmation event. Both are Hold-to-TP1 positions.</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">3 — Exit the UK Energy and DAX/SMI defensive Health Care HSR clusters today — no exceptions</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">Shell +7.0, TotalEnergies +7.7, ENI +7.3 in Energy. AZN (−3.7%), GSK (−2.7%), Novartis (−2.2%), Nestlé, Roche QChg −2.14 deteriorating. The structural rotation is out of UK/Swiss defensives and into Continental cyclicals — DAX, CAC, FTSEMIB, AEX. Use today's tape weakness as the exit window.</p> <div> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">4 — Use SX5E / DAX / CAC / FTSEMIB as the European benchmark — not SXXP or FTSE 100</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">SX5E QChg +1.00 Positive is the strongest weekly read in the index table. SXXP (Stoxx 600) is the only major index with Negative direction — its UK weighting structurally drags the framework. FTSE 100 is similarly compromised. Continental cyclical indices DAX, CAC, FTSEMIB, AEX are the Quantmatix-aligned benchmarks.</p> <tr><td style="padding:30px 40px;background-color:#1f1f1f;border-top:1px solid #404040"> <p style="margin:0;color:#999999;font-size:12px;line-height:1.7;text-align:center"><strong style="color:#bbbbbb">Disclaimer:</strong> These insights are generated using AI and are provided for informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any security. The content may be incomplete or contain errors and should not be relied upon for investment decisions. Always consult a qualified financial adviser before making financial choices.</p> </td></tr><tr><td style="background-color:#152030;padding:25px 40px;text-align:center"> <p style="margin:0 0 5px 0;color:#DEDC04;font-size:12px;font-weight:bold"><br /></p> </td></tr></div></div></td></tr></div></div></div></div></div></tr></tbody></table></td></tr></tbody></table>

Quantmatix Research - April 23, 2026 <table style="background-color:#1a1a1a"> <tbody><tr> <td style="padding:20px 0"> <table style="background-color:#2a2a2a;max-width:600px"> <td style="background-color:#152030;padding:30px 40px;text-align:center"> <h1 style="margin:0 0 10px 0;color:#ffffff;font-size:24px;font-weight:bold;line-height:1.3">Quantmatix Research</h1> <h2 style="margin:0 0 15px 0;color:#DEDC04;font-size:17px;font-weight:normal;line-height:1.4">Bullish Inflection Surge Intensifies — 253 Deep Positive Reversals<br /></h2> <p style="margin:0;color:#ffffff;font-size:14px">Wednesday 23 April, 2026</p> <p style="margin:5px 0 0 0;color:#DEDC04;font-size:13px;font-style:italic">Prepared by: Liam Boggan, CEO & Founder, Head of Research</p> </td> </table></td></tr> <tr> <td style="padding:40px 40px 50px 40px;background-color:#2a2a2a"> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Executive Summary</h3> <p style="margin:0 0 15px 0;color:#d0d0d0;font-size:15px;line-height:1.8">The Quantmatix Bullish Inflection Surge is <strong style="color:#ffffff">broadening and intensifying</strong>. Deep Positive Reversals accelerated to <strong style="color:#ffffff">253</strong> from 237 the prior session. The S&P 500 printed <strong style="color:#ffffff">7,137.9</strong>, closing above the Upper Q Band at 7,125 — a decisive technical confirmation. With QScore change advancing to +1.14 and Positive direction maintained, the trajectory signal remains unambiguous.</p> <p style="margin:0;color:#d0d0d0;font-size:15px;line-height:1.8">IT and Financials command breadth readings of <strong style="color:#ffffff">85.4%</strong> and <strong style="color:#ffffff">84.1%</strong> advancing — Max Overweight sectors. Health Care is the signal leader with <strong style="color:#ffffff">8 Top Q Positive and 8 TEVO</strong>. Energy's <strong style="color:#ff6666">15-name High Score Reversal (HSR) cluster</strong> is the single most concentrated exhaustion signal. All seven MAG7 components register Positive direction.</p> </td><td style="padding:40px 40px 50px 40px;background-color:#1f1f1f"> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Top 5 Highest-Conviction Stocks</h3> <p style="margin:0 0 25px 0;color:#999999;font-size:13px">Ranked by Expected Value · ★ = Top Q Positive · TEVO = swing signal</p> <table style="border-collapse:collapse;font-size:13px"> <thead> <tr style="background-color:#2a2a2a"> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">#</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Name · Sector</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Score · Chg</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">T1 · HR</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">SL1</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">EV · Earn</th> </tr></thead> <tbody> <tr style="background-color:#252525"> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">1</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">GRAL ★ Top Q<br /><span style="color:#999999;font-weight:normal;font-size:12px">GRAIL · Health Care / Diagnostics</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.6 · +0.57</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$64.67 · 100%*</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$27.73</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+22.9%</span><br /><span style="color:#aaaaaa;font-size:11px">12 May</span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">2</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">HEI TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">HEICO · Industrials / Aerospace MRO</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.9 · 0.00</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$309.56 · 73%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$256.71</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+10.3%</span><br /><span style="color:#aaaaaa;font-size:11px">26 May</span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">3</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">DHR TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">Danaher · Health Care / Life Sciences</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.4 · 0.00</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$204.37 · 79%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$176.11</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+8.0%</span><br /><span style="color:#aaaaaa;font-size:11px">28 Jul</span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">4</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">PLNT TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">Planet Fitness · Consumer Disc</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−9.3 · +0.14</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$77.30 · 79%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$65.43</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+5.8%</span><br /><span style="color:#aaaaaa;font-size:11px">7 May</span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">5</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">BHVN TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">Biohaven · Health Care / Pharma</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−4.3 · +0.86</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$12.22 · 71%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$7.04</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+5.5%</span><br /><span style="color:#aaaaaa;font-size:11px">11 May</span></td> </tr></tbody> </table> <p style="margin:10px 0 0 0;color:#888888;font-size:11px">* GRAL TP1 hit rate based on ~18 months of data history — treat as directionally positive, not statistically robust. Size accordingly.</p> <p style="margin:20px 0 10px 0;color:#ffffff;font-size:14px;font-weight:bold">Sector Diversifiers</p> </td><td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">ACN ★ Top Q — Accenture · IT Services</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.1 · +0.57</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">$206.63 · 80% · EV +4.8% · 18 Jun</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">VRTS TEVO — Virtus Investment · Financials</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center">−6.9 · +0.86</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold"><span style="color:#ff9900">$148.88 · 73% · EV +0.7% · 1 May <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></span></td> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">MAG7 Recovery Scorecard — All 7 Advancing</h3> <p style="margin:0 0 20px 0;color:#d0d0d0;font-size:14px;line-height:1.8">Q Band Lower 6,333 · Mean 6,729 · Upper 7,125. SPX closed <strong style="color:#ffffff">above</strong> the upper band — breakout confirmation.</p> </tr><tr style="background-color:#1f1f1f"> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Ticker</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Q Score</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Q Chg</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Close</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Earnings</th> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">NVDA</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−1.4</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.43</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$202.50</td> <td style="padding:10px 12px;color:#aaaaaa;border-bottom:1px solid #333333">—</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">GOOGL</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$339.32</td> <td style="padding:10px 12px;color:#ff9900;font-weight:bold;border-bottom:1px solid #333333"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> 29 Apr</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">AMZN</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−1.7</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.71</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$255.36</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">AAPL</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−2.0</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.43</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$273.17</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">META</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−2.3</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.14</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$674.72</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">TSLA</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−5.3</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.86</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$387.51</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">MSFT</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold">−6.3</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold">+0.71</td> <td style="padding:10px 12px;color:#ffffff;text-align:center">$432.92</td> <td style="padding:10px 12px;color:#aaaaaa">—</td> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Portfolio Positioning — Sector Allocation</h3> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Positioning</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Sector</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Adv%</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">DPR</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Key Signals</th> </tr><tr style="background-color:#1a2a1a"> <td style="padding:10px 12px;color:#66cc66;font-weight:bold;border-bottom:1px solid #333333">Max Overweight</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Information Technology</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">85.4%</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #333333">69</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">3 Top Q · 5 TEVO · 3 HSR · ACN primary long</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Financials</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">84.1%</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #333333">59</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">1 Top Q · 2 TEVO · 1 HSR · VRTS signal</td> <td style="padding:10px 12px;color:#66cc66;font-weight:bold;border-bottom:1px solid #333333">Overweight</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Consumer Disc</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">75.0%</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #333333">24</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">2 Top Q · 3 TEVO · PLNT in Top 5</td> <td style="padding:10px 12px;color:#aaaaaa;font-weight:bold;border-bottom:1px solid #333333">Neutral</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Comm Services</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">68.1%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">10</td> <td style="padding:10px 12px;color:#aaaaaa;border-bottom:1px solid #333333">1 HSR · No active long signals</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Health Care</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">64.5%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">38</td> <td style="padding:10px 12px;color:#aaaaaa;border-bottom:1px solid #333333">8 Top Q · 8 TEVO · Signal leader — via Top 5 names</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Industrials</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">61.2%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">21</td> <td style="padding:10px 12px;color:#aaaaaa;border-bottom:1px solid #333333">3 TEVO · 2 HSR · HEI long / MTZ & PWR reduce</td> <td style="padding:10px 12px;color:#ff9900;font-weight:bold;border-bottom:1px solid #333333">Underweight</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Materials</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;border-bottom:1px solid #333333">45.9%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">2</td> <td style="padding:10px 12px;color:#aaaaaa;border-bottom:1px solid #333333">3 HSR (WLK, CTVA, LYB) override 1 TEVO</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Consumer Staples</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">32.4%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">3</td> <td style="padding:10px 12px;color:#aaaaaa;border-bottom:1px solid #333333">2 HSR (TGT, CASY) · Structural decline confirmed</td> </tr><tr style="background-color:#2a1a1a"> <td style="padding:10px 12px;color:#cc3333;font-weight:bold;border-bottom:1px solid #333333">Max Underweight</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Energy</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">25.8%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">1</td> <td style="padding:10px 12px;color:#ff6666;font-weight:bold;border-bottom:1px solid #333333">15 HSR — Exit All · No long signals</td> <td style="padding:10px 12px;color:#cc3333;font-weight:bold">Max Underweight</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">Utilities</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold">14.5%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center">2</td> <td style="padding:10px 12px;color:#ff6666;font-weight:bold">2 Top Q Neg · 2 HSR · GEV & SRE exit on bounce</td> <h3 style="margin:0 0 20px 0;color:#ff6666;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 20px 0;color:#ff6666;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">HSR Exhaustion & Exit Signals</h3> <div style="margin-bottom:20px;padding:15px;background-color:#2a1a1a;border-left:3px solid #cc3333"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">Energy — 15-Name HSR Cluster · Exit All</p> <p style="margin:0 0 8px 0;color:#d0d0d0;font-size:13px">PBR (+8.6) · BP (+8.1) · TDW (+8.0) · KOS (+7.9) · SM (+7.9) + 10 further Energy HSR</p> <p style="margin:0;color:#ff6666;font-size:13px;font-weight:bold">No Quantmatix long signal exists in the sector — total exit mandate.</p> </div> <div style="margin-bottom:20px;padding:15px;background-color:#2a2a2a;border-left:3px solid #666666"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:14px;font-weight:bold">Industrials HSR</p> <p style="margin:0;color:#d0d0d0;font-size:13px">MTZ (+9.1) — highest HSR score in universe · PWR (+8.3) — reduce both</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:14px;font-weight:bold">IT HSR — Exit Despite IT Breadth Leadership</p> <p style="margin:0;color:#d0d0d0;font-size:13px">VIAV (+8.3) · VSAT (+7.9) · FSLY (+7.1)</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:14px;font-weight:bold">Consumer Disc & Financials HSR</p> <p style="margin:0;color:#d0d0d0;font-size:13px">CAVA (+8.3) · ROST (+7.4) · FCFS (+8.4) — reduce into strength</p> <div style="padding:15px;background-color:#2a1a1a;border-left:3px solid #cc3333"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:14px;font-weight:bold">Top Q Negative — 8 Exit Signals</p> <p style="margin:0 0 5px 0;color:#d0d0d0;font-size:13px"><strong style="color:#ff6666">BCRX</strong> (BioCryst) — QScore +8.71 · QChg −0.71 · $9.01 · Earn 6 May · Primary single-stock reduce</p> <p style="margin:0;color:#d0d0d0;font-size:13px"><strong style="color:#ffffff">Utilities cluster:</strong> AEE +7.14 / DTE +6.57 (<img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> earn 30 Apr) / WEC +6.00 / AWK +4.14 (<img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> earn 29 Apr) · XLU +5.86 · IDU +5.43 — exit ETF Utilities now</p> <td style="padding:40px;background-color:#1f1f1f"> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Imperative — Tactical Call to Action</h3> <div style="margin-bottom:20px"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">1 — Initiate / Add: GRAL, HEI, DHR, PLNT, BHVN</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">Top 5 by EV are the highest-conviction longs from today's data. GRAL's 100%* TP1 should be treated as directionally positive rather than statistically definitive — size accordingly. DHR and HEI carry no near-term earnings risk; full position sizing is supported.</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">2 — Add Sector Exposure via ACN (IT) and VRTS (Financials)</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">IT at 85.4% and Financials at 84.1% advancing are the Max Overweight sectors. ACN (Top Q Positive, 80% T1) is the primary IT long. VRTS earns 1 May — size conservatively and re-evaluate post-earnings.</p> <p style="margin:0 0 5px 0;color:#ff6666;font-size:15px;font-weight:bold">3 — Exit All Energy Positions Now</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">15 HSR signals in a single sector is the most concentrated exhaustion reading in today's universe. PBR, BP, TDW, KOS, SM and 10 additional names are all at score ceiling with Negative reversal direction. This is a total exit mandate.</p> <div> <p style="margin:0 0 5px 0;color:#ff9900;font-size:15px;font-weight:bold">4 — Reduce MTZ, CAVA, FCFS · Exit Utilities</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">MTZ leads the HSR reduce list at +9.1 — the highest exhaustion reading outside Energy. CAVA (+8.3) and FCFS (+8.4) are near score ceiling. GEV and SRE in Utilities should be exited on any bounce. Utilities at 14.5% advancing is the weakest breadth reading in the universe.</p><p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8"><br /></p> <td style="padding:30px 40px;background-color:#2a2a2a;border-top:1px solid #404040"> <p style="margin:0;color:#999999;font-size:12px;line-height:1.7;text-align:center"> <strong style="color:#bbbbbb">Disclaimer:</strong> These insights are generated using AI and are provided for informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any security. The content may be incomplete or contain errors and should not be relied upon for investment decisions. Always consult a qualified financial adviser before making financial choices. </p> </td><td style="background-color:#152030;padding:25px 40px;text-align:center"> <p style="margin:0 0 5px 0;color:#DEDC04;font-size:12px;font-weight:bold"><br /></p> </td></div></div></td></div></div></tr></tbody></table>

Quantmatix Research - April 17, 2026 <table style="background-color:#1a1a1a"> <tbody><tr> <td style="padding:20px 0"> <table style="background-color:#2a2a2a;max-width:600px"> <td style="background-color:#152030;padding:30px 40px;text-align:center"> <h1 style="margin:0 0 10px 0;color:#ffffff;font-size:24px;font-weight:bold;line-height:1.3">Quantmatix Research</h1> <h2 style="margin:0 0 15px 0;color:#DEDC04;font-size:18px;font-weight:normal;line-height:1.4">Broad Positive Accumulation — Health Care Leads,<br />Software & Diversified Financials Surge, Energy Exhausts</h2> <p style="margin:0;color:#ffffff;font-size:14px">Friday 17 April, 2026</p> <p style="margin:5px 0 0 0;color:#DEDC04;font-size:13px;font-style:italic">Prepared by: Liam Boggan, CEO & Founder, Head of Research</p> </td> </table></td></tr> <tr> <td style="padding:40px 40px 50px 40px;background-color:#2a2a2a"> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Executive Summary</h3> <p style="margin:0 0 15px 0;color:#d0d0d0;font-size:15px;line-height:1.8">The signal cluster is decisively positive. SPX closed at <strong style="color:#ffffff">7,041.28 (+3.29%)</strong> with Q Score −4.14 (+0.71 Change, Positive direction), pressing the Weekly Upper Band at 7,071.06. The broad accumulation footprint is the most expansive of the cycle: <strong style="color:#ffffff">12 Top Q Positive · 32 TEVO · 160 Deep Positive Delta Reversals</strong> · all seven MAGS names simultaneously Advancing for the first time this cycle.</p> <p style="margin:0;color:#d0d0d0;font-size:15px;line-height:1.8">Health Care is the highest-conviction long sector. Software & Services (81.1% Advancing) and Diversified Financials (78% Advancing) are Bullish Inflection Surges. Energy is the cleanest exhaustion signal — 17 High Score Negative Reversals. The index targets T1 7,155.70 (75% hit rate) and T2 7,226.11 (59%), with Stop at 6,562.31 (9%) — a highly asymmetric risk-reward configuration.</p> </td><td style="padding:40px 40px 50px 40px;background-color:#1f1f1f"> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">SPX Velocity Structure & Key Levels</h3> <table style="border-collapse:collapse;font-size:13px"> <thead> <tr style="background-color:#2a2a2a"> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Metric</th> <th style="padding:10px 12px;text-align:right;color:#ffffff;border-bottom:2px solid #404040">Value</th> <th style="padding:10px 12px;text-align:right;color:#ffffff;border-bottom:2px solid #404040">Distance</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Note</th> </tr></thead> <tbody> <tr style="background-color:#252525"> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">Close</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">7,041.28</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">+3.29%</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Q −4.14 (+0.71) · Positive ↑</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Upper Band (Weekly)</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:right;border-bottom:1px solid #333333">7,071.06</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:right;border-bottom:1px solid #333333">+0.42%</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Proximate resistance</td> <td style="padding:10px 12px;color:#66cc66;font-weight:bold;border-bottom:1px solid #333333">Target 1</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">7,155.70</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">+1.63%</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Hit Rate 75% — primary objective</td> <td style="padding:10px 12px;color:#66cc66;font-weight:bold;border-bottom:1px solid #333333">Target 2</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">7,226.11</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">+2.63%</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Hit Rate 59%</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Mean Band (Weekly)</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:right;border-bottom:1px solid #333333">6,673.93</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:right;border-bottom:1px solid #333333">−5.22%</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Primary risk anchor on reversal</td> <td style="padding:10px 12px;color:#ff6666;font-weight:bold;border-bottom:1px solid #333333">Stop 1</td> <td style="padding:10px 12px;color:#ff6666;text-align:right;font-weight:bold;border-bottom:1px solid #333333">6,562.31</td> <td style="padding:10px 12px;color:#ff6666;text-align:right;font-weight:bold;border-bottom:1px solid #333333">−6.80%</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Hit Rate 9% — asymmetric risk-reward</td> <td style="padding:10px 12px;color:#d0d0d0">Lower Band (Weekly)</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:right">6,276.80</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:right">−10.86%</td> <td style="padding:10px 12px;color:#d0d0d0">Downside structural support</td> </tr></tbody> </table> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Top 5 Highest-Conviction Stocks</h3> <p style="margin:0 0 25px 0;color:#999999;font-size:13px">Ranked by Expected Value = (T1 hit rate × upside%) − (SL1 hit rate × downside%) · ★ = Top Q Positive</p> </td></tr><tr style="background-color:#1f1f1f"> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">#</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Name</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Score · Chg</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">T1 · HR · Upside</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Q Band</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">EV · Earnings</th> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">1</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">VERI ★ TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">Veritone · IT / Software</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−6.00 · +1.00</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$2.71 · 63% · +28.6%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$1.60</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+10.0%</span><br /><span style="color:#aaaaaa;font-size:12px">14 May</span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">2</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">CVCO TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">Cavco Industries · Cons Disc / Durables</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−6.14 · 0.00</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$567.15 · 71% · +12.7%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$430.54</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+6.9%</span><br /><span style="color:#aaaaaa;font-size:12px">28 May</span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">3</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">CSGP TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">CoStar Group · Real Estate</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−9.14 · +0.71</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$44.29 · 74% · +10.6%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$34.53</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+5.4%</span><br /><span style="color:#ff9900;font-weight:bold;font-size:12px">28 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">4</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">HEI/A TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">HEICO · Industrials / A&D</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−9.29 · +0.14</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$234.68 · 76% · +8.6%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$194.57</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+5.4%</span><br /><span style="color:#aaaaaa;font-size:12px">27 May</span></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">5</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">CRNX ★ Top Q<br /><span style="color:#999999;font-weight:normal;font-size:12px">Crinetics Pharma · Health Care / Biotech</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.29 · +0.71</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$42.50 · 82% · +8.9%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$31.90</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">+4.8%</span><br /><span style="color:#aaaaaa;font-size:12px">07 May</span></td> <p style="margin:25px 0 12px 0;color:#ffffff;font-size:14px;font-weight:bold">Sector Diversifiers</p> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">ARES TEVO<br /><span style="color:#999999;font-weight:normal;font-size:12px">Ares Management · Financials / Div Fin</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.71 · +0.86</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$125.25 · 80% · +7.8%</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#DEDC04;font-weight:bold">EV +4.5%</span> · 01 May</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">TSLA ★ Top Q<br /><span style="color:#999999;font-weight:normal;font-size:12px">Tesla · Cons Disc / MAGS</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center">−6.14 · +0.86</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold">$420.47 · 79% · +8.1%</td> <td style="padding:10px 12px;text-align:center"><span style="color:#DEDC04;font-weight:bold">EV +3.9%</span> · <span style="color:#ff9900;font-weight:bold">22 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></span></td> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Magnificent Seven — All 7 Advancing · First Time This Cycle</h3> <p style="margin:0 0 20px 0;color:#d0d0d0;font-size:14px;line-height:1.8">MAGS ETF Q Score −5.86 (+1.57 Change) · Close $65.31 (+6.82%) · T1 $66.98 at 83% hit rate · Q Band $54.25. TSLA is the only MAGS name with Top Q Positive confirmation — the framework's highest-conviction large-cap expression ahead of 22 April earnings.</p> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Q Score · Chg</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Close</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Session</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Signal</th> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">MSFT</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−7.00 · +1.00</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$420.26</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+13.32%</td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333">Positive ▲ · Deepest score</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">TSLA ★</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−6.14 · +0.86</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$388.90</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+11.45%</td> <td style="padding:10px 12px;color:#DEDC04;border-bottom:1px solid #333333">Top Q Positive ★</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">META</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−3.71 · +0.86</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$676.87</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+7.46%</td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333">Positive ▲</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">GOOGL</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−3.00 · +1.00</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$332.77</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+5.40%</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">NVDA</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−2.86 · +0.86</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$198.35</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+5.15%</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold;border-bottom:1px solid #333333">AMZN</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−3.43 · +1.71</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;border-bottom:1px solid #333333">$249.70</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+4.75%</td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333">Positive ▲ · Leads on Change</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">AAPL</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center">−2.43 · +0.14</td> <td style="padding:10px 12px;color:#ffffff;text-align:center">$263.40</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;font-weight:bold">+1.12%</td> <td style="padding:10px 12px;color:#aaaaaa">Positive ▲ · Weakest Change</td> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Sector Regime Dashboard — 17 April 2026</h3> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">State</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Sector / Industry</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Adv%</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Action</th> </tr><tr style="background-color:#1a2a1a"> <td style="padding:10px 12px;color:#66cc66;font-weight:bold;border-bottom:1px solid #333333">Bullish Inflection Surge</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Software · Div Financials · Media</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">81% / 78% / 73%</td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333">Max Overweight — stock level</td> <td style="padding:10px 12px;color:#66cc66;font-weight:bold;border-bottom:1px solid #333333">Positive / Overweight</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Health Care · IT Hardware · Insurance · Banks</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">57% / 67% / 64% / 63%</td> <td style="padding:10px 12px;color:#66cc66;border-bottom:1px solid #333333">Overweight — stock selection</td> <td style="padding:10px 12px;color:#aaaaaa;font-weight:bold;border-bottom:1px solid #333333">Neutral</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Semis · Consumer Services · Comm Services</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;font-weight:bold;border-bottom:1px solid #333333">68% / 64% / 69%</td> <td style="padding:10px 12px;color:#aaaaaa;border-bottom:1px solid #333333">Hold — selective TEVO only</td> </tr><tr style="background-color:#2a1f1a"> <td style="padding:10px 12px;color:#ff9900;font-weight:bold;border-bottom:1px solid #333333">Most Mature / Exhaustion</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Energy · Utilities</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">17% / 42%</td> <td style="padding:10px 12px;color:#ff9900;border-bottom:1px solid #333333">Reduce on strength</td> <td style="padding:10px 12px;color:#ff6666;font-weight:bold;border-bottom:1px solid #333333">Negative / Underweight</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Industrials · Real Estate · Materials</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">35% / 33% / 28%</td> <td style="padding:10px 12px;color:#ff6666;border-bottom:1px solid #333333">Underweight — single name only</td> </tr><tr style="background-color:#2a1a1a"> <td style="padding:10px 12px;color:#cc3333;font-weight:bold">Most Negative / Max Underweight</td> <td style="padding:10px 12px;color:#ffffff">Food Bev & Tobacco · HHPP · Capital Goods</td> <td style="padding:10px 12px;color:#cc3333;text-align:center;font-weight:bold">14% / 25% / 29%</td> <td style="padding:10px 12px;color:#cc3333">Max Underweight — no longs</td> <h3 style="margin:0 0 20px 0;color:#ff6666;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Reduce / Exit</h3> <div style="margin-bottom:20px;padding:15px;background-color:#2a1a1a;border-left:3px solid #cc3333"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">TW — Tradeweb · Financials · Top Q Negative</p> <p style="margin:0 0 5px 0;color:#d0d0d0;font-size:13px">Q +8.14 · −0.71 Declining · Close $121.96 · T1 downside $115.20 · 35% HR · Stop $133.13 · Earnings 29 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></p> <p style="margin:0;color:#aaaaaa;font-size:13px;line-height:1.7">Top Q Negative confirmation — reduce position ahead of earnings catalyst.</p> </div> <div style="padding:15px;background-color:#2a1a1a;border-left:3px solid #cc3333"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">Energy HSNR Cluster — 17 Names · Reduce on Strength</p> <p style="margin:0 0 8px 0;color:#d0d0d0;font-size:13px">Q Score ≥ +7 · Last Reversal Negative · Most concentrated exhaustion cluster in dataset</p> <p style="margin:0;color:#aaaaaa;font-size:13px;line-height:1.7">COP · LNG · CVX · VLO · PSX · DVN · APA · PBF · CTRA · PTEN · NE · PUMP · GPRE · TDW · TALO · EGY · CLMT</p> <td style="padding:40px;background-color:#2a2a2a"> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Imperative</h3> <div style="margin-bottom:20px"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">1 — Build the core long book around the Top 5</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">VERI, CVCO, CSGP, HEI/A, CRNX span five non-overlapping sectors. VERI leads at +10.0% EV with dual Top Q + TEVO confirmation. CRNX carries the highest T1 probability at 82%. Position size against Q Band support on each name.</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">2 — Diversify with ARES and TSLA</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">ARES (80% T1 hit, EV +4.5%) extends into the Diversified Financials Surge without crowding the Top 5. TSLA is the sole MAGS expression with Top Q Positive confirmation — the cleanest MAG7 long ahead of 22 April earnings. Size TSLA smaller into the catalyst.</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">3 — Reduce the Energy HSNR cluster and TW</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">17 HSNR names in Energy plus TW Top Q Negative (35% downside-T1 probability). Reduce equity exposure into strength — the framework does not support adding at these levels.</p> <div> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">4 — Manage earnings risk — CSGP 28 Apr · TSLA 22 Apr</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">Both sit in the Top 7 long book. Trim size into the print; re-add on post-earnings Q Score confirmation. SPX T1 at 7,155.70 (75%) remains the index anchor.</p> <td style="padding:30px 40px;background-color:#1f1f1f;border-top:1px solid #404040"> <p style="margin:0;color:#999999;font-size:12px;line-height:1.7;text-align:center"> <strong style="color:#bbbbbb">Disclaimer:</strong> These insights are generated using AI and are provided for informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any security. The content may be incomplete or contain errors and should not be relied upon for investment decisions. Always consult a qualified financial adviser before making financial choices. </p> </td><td style="background-color:#152030;padding:25px 40px;text-align:center"> <p style="margin:0 0 5px 0;color:#DEDC04;font-size:12px;font-weight:bold">Source: Quantmatix – Proprietary US Market Data Analysis</p> <p style="margin:0;color:#ffffff;font-size:12px">Friday 17 April, 2026</p> </td></div></div></td></div></tr></tbody></table>

Quantmatix Research - April 14, 2026 <table style="background-color:#1a1a1a"> <tbody><tr> <td style="padding:20px 0"> <table style="background-color:#2a2a2a;max-width:600px"> <td style="background-color:#152030;padding:30px 40px;text-align:center"> <h1 style="margin:0 0 10px 0;color:#ffffff;font-size:24px;font-weight:bold;line-height:1.3">Quantmatix Research</h1> <h2 style="margin:0 0 15px 0;color:#DEDC04;font-size:18px;font-weight:normal;line-height:1.4">US Equity Sectors — Signal Intelligence Report<br />Iran War Macro Cycle · Q Score Velocity Analysis</h2> <p style="margin:5px 0 0 0;color:#DEDC04;font-size:13px;font-style:italic">Prepared by: Liam Boggan, CEO & Founder, Head of Research</p> </td> </table></td></tr> <tr> <td style="padding:40px 40px 50px 40px;background-color:#1f1f1f"> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Signal Scorecard</h3> <table style="border-collapse:collapse;font-size:14px"> <tbody> <tr style="background-color:#252525"> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">SPX Q Score</td> <td style="padding:10px 12px;color:#ff6666;text-align:right;font-weight:bold;border-bottom:1px solid #333333">−4.4 · Declining regime</td> </tr><tr style="background-color:#2a2a2a"> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">SPX Close</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">6,886 · +1.02% today · +4.15% 1W</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">MAGS Q Score</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">−7.0 · Positive ↑</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Top Q Positive</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">15 Signals · 10 in Health Care</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Top Q Negative</td> <td style="padding:10px 12px;color:#ff6666;text-align:right;font-weight:bold;border-bottom:1px solid #333333">1 Signal · Utilities (AEE)</td> <td style="padding:10px 12px;color:#d0d0d0">Deep Positive</td> <td style="padding:10px 12px;color:#ffffff;text-align:right;font-weight:bold">67 Instruments · Q ≥ 7.0 Positive Dir</td> </tr></tbody> </table> </td><td style="padding:40px 40px 50px 40px;background-color:#2a2a2a"> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Executive Summary</h3> <p style="margin:0 0 15px 0;color:#d0d0d0;font-size:15px;line-height:1.8">15 Top Q Positive signals are concentrated almost entirely in Health Care (<strong style="color:#ffffff">10 of 15</strong>), confirming a sector rotation into healthcare names from deeply oversold institutional momentum positions. All 15 carry negative absolute Q Scores now showing Positive weekly direction — a classic mean-reversion signal indicating the velocity of institutional selling has reversed before price recovery is complete.</p> <p style="margin:0 0 15px 0;color:#d0d0d0;font-size:15px;line-height:1.8"><strong style="color:#ffffff">MAGS</strong> is the standout cross-sector signal: Q Score −7.0 Positive, T1 $64.04 at <strong style="color:#ffffff">83% hit rate</strong>. The ETF sits near its 200-day SMA ($61.99), consistent with early institutional re-accumulation. The S&P 500 has now rallied eight consecutive sessions back to pre-war levels.</p> <p style="margin:0;color:#d0d0d0;font-size:15px;line-height:1.8"><strong style="color:#ffffff">CLF</strong> (Cleveland-Cliffs) is the most time-sensitive signal — earnings in 6 days on 20 April. The sole Top Q Negative signal, <strong style="color:#ffffff">AEE</strong> (Ameren), flags Utilities as an institutional exit from a crowded defensive trade as Iran ceasefire signals build. Utilities is today's weakest sector at −0.99%.</p> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Top Q Positive — Health Care</h3> <p style="margin:0 0 25px 0;color:#999999;font-size:13px">10 of 15 signals · Ranked by Expected Value (T1 Hit Rate × T1 Upside%)</p> <table style="border-collapse:collapse;font-size:13px"> <thead> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">#</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Name</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Q Score</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">T1 · HR · Upside</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Q Band</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Earnings</th> </thead> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">1</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">AZTA<br /><span style="color:#999999;font-weight:normal;font-size:12px">Azenta · Life Sciences</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.43 ↑</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$25.85 · 76% · +10.8%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$18.09</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">6 May</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">2</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">CRNX<br /><span style="color:#999999;font-weight:normal;font-size:12px">Crinetics Pharmaceuticals · Biotech</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.29 ↑</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$42.27 · 82% · +9.3%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$31.57</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">7 May</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">3</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">HAE<br /><span style="color:#999999;font-weight:normal;font-size:12px">Haemonetics · HC Equipment</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−7.86 ↑</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$64.51 · 68% · +8.8%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$50.97</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">4</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">CRL<br /><span style="color:#999999;font-weight:normal;font-size:12px">Charles River Labs · Life Sciences</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−7.43 ↑</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$191.79 · 71% · +7.5%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$145.13</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">5</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">PTCT<br /><span style="color:#999999;font-weight:normal;font-size:12px">PTC Therapeutics · Biotech</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−7.71 ↑</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$74.85 · 71% · +6.3%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$60.11</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">5 May</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">6</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">ELMD<br /><span style="color:#999999;font-weight:normal;font-size:12px">Electromed · HC Equipment</span></td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$26.72 · 62% · +7.1%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$20.75</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">12 May</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">7</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">RGEN<br /><span style="color:#999999;font-weight:normal;font-size:12px">Repligen · Life Sciences</span></td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$131.48 · 60% · +7.3%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$104.57</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">8</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">A<br /><span style="color:#999999;font-weight:normal;font-size:12px">Agilent Technologies · Life Sciences</span></td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$122.72 · 67% · +4.4%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$105.81</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">27 May</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">9</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">OFIX<br /><span style="color:#999999;font-weight:normal;font-size:12px">Orthofix Medical · HC Equipment</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.14 ↑</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$13.32 · 61% · +5.3%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$11.04</td> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Cross-Sector — MAGS · Highest T1 Hit Rate in Dataset</h3> <p style="margin:0 0 20px 0;color:#d0d0d0;font-size:14px;line-height:1.8">At Q −7.0 Positive direction, the Magnificent Seven ETF carries an <strong style="color:#ffffff">83% T1 and T2 hit rate</strong> — the highest in today's dataset. Price ($61.76) sits near the 200-week SMA ($61.99), indicating base formation rather than breakdown. The 0% stop-loss hit rate is notable — the Q Score framework is not flagging meaningful downside risk at this entry.</p> <tr style="background-color:#1f1f1f"> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Q Score</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">−7.0 ↑ Positive</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Close</td> <td style="padding:10px 12px;color:#ffffff;text-align:right;font-weight:bold;border-bottom:1px solid #333333">$61.76</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">T1</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">$64.04 · 83% HR · +3.7%</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">T2</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">$65.44 · 83% HR · +5.9%</td> <td style="padding:10px 12px;color:#d0d0d0">Stop</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:right;font-weight:bold">$56.20 · 0% HR</td> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Other Top Q Positive Signals</h3> <div style="margin-bottom:25px"> <h4 style="margin:0 0 12px 0;color:#ffffff;font-size:15px;font-weight:bold">Consumer Discretionary — 2 Signals</h4> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">CVCO · Cavco Industries · Homebuilding</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">Q −5.71 ↑</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">$569.79 · 71% · +8.8% · EV 6.31</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">RVLV · Revolve Group · Online Retail</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center">Q −7.14 ↑</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold">$27.01 · 65% · +7.8% · EV 5.04</td> </div> <div style="margin-bottom:25px;padding:15px;background-color:#2a1a1a;border-left:3px solid #ff9900"> <p style="margin:0 0 5px 0;color:#ff9900;font-size:13px;font-weight:bold;text-transform:uppercase"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> Earnings in 6 Days — 20 April</p> <p style="margin:0 0 8px 0;color:#ffffff;font-size:15px;font-weight:bold">CLF · Cleveland-Cliffs · Materials · Steel</p> <p style="margin:0 0 8px 0;color:#d0d0d0;font-size:13px">Q −8.71 ↑ · Deepest negative Q Score in dataset · EV 6.88 (#4 overall)</p> <p style="margin:0 0 8px 0;color:#d0d0d0;font-size:13px">T1 $10.43 · 59% HR · +11.7% | T2 $11.11 · 55% HR · +19.0% | SL $7.03 · 37%</p> <p style="margin:0;color:#aaaaaa;font-size:13px;line-height:1.7">Highest SL probability in the cohort at 37% — elevated binary risk around earnings. Seeking Alpha notes improving cash flow and expected Q1 loss trajectory improvement. Position sizing should reflect the binary event.</p> <div style="margin-bottom:0"> <h4 style="margin:0 0 12px 0;color:#ffffff;font-size:15px;font-weight:bold">Financials — 1 Signal</h4> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">NU · Nu Holdings · Consumer Finance</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center">Q −8.29 ↑</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold">$16.00 · 79% · +7.0% · EV 5.51</td> <p style="margin:10px 0 0 0;color:#aaaaaa;font-size:13px;line-height:1.7">79% hit rate at both T1 and T2 — rare double-level consistency. Brazilian digital bank with 100M+ customers. Earnings 12 May.</p> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Information Technology — 1 Signal · High Variance</h3> <p style="margin:0 0 20px 0;color:#999999;font-size:13px">Arithmetic EV highest in dataset at 18.84 — driven by magnitude of upside. Micro-cap liquidity profile requires careful sizing.</p> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">VERI · Veritone · AI Software</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">Q −6.00 ↑</td> <td style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">Close $2.03</td> <td colspan="2" style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">$2.64 · 63% HR · +30.0%</td> <td colspan="2" style="padding:10px 12px;color:#66cc66;text-align:right;font-weight:bold;border-bottom:1px solid #333333">$3.01 · 58% HR · +48.3%</td> <td style="padding:10px 12px;color:#d0d0d0">Stop · Earnings</td> <td colspan="2" style="padding:10px 12px;color:#aaaaaa;text-align:right;font-weight:bold">$1.45 · 26% HR | 14 May</td> <h3 style="margin:0 0 10px 0;color:#ff6666;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Top Q Negative — Sole Signal · Utilities Unwind</h3> <p style="margin:0 0 20px 0;color:#999999;font-size:13px">Utilities today: −0.99% — weakest sector on the session</p> <div style="padding:15px;background-color:#2a1a1a;border-left:3px solid #cc3333"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">AEE · Ameren Corporation · Electric Utilities</p> <p style="margin:0 0 8px 0;color:#d0d0d0;font-size:13px">Q +7.00 ↓ Negative direction — reversal FROM a strong positive</p> <p style="margin:0 0 8px 0;color:#d0d0d0;font-size:13px">T1 downside $107.80 · 51% HR · −3.6% | Stop $117.03 · 51% HR</p> <p style="margin:0;color:#aaaaaa;font-size:13px;line-height:1.7">Utilities ran as the Iran-war defensive crowded trade. As ceasefire signals build and the SPX posts an 8-session rally, the Q Score data indicates this institutional unwind is early-stage — not mature. The symmetric stop/target hit rates (51%/51%) flag a contested signal; monitor continuation of Utilities underperformance closely.</p> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Deep Positive Highlights — 67 Total · Top Signals</h3> <p style="margin:0 0 25px 0;color:#999999;font-size:13px">Q ≥ 7.0 · Positive Direction · Sustained institutional accumulation at velocity</p> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Ticker</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Name · Sector</th> <th style="padding:10px 12px;text-align:right;color:#ffffff;border-bottom:2px solid #404040">Close</th> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">DAWN</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Day One Biopharmaceuticals · Health Care</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+9.86</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:right;border-bottom:1px solid #333333">$21.49</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">ADEA</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Adeia · Information Technology</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+9.71</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:right;border-bottom:1px solid #333333">$26.74</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">SEM</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Select Medical Holdings · Health Care</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:right;border-bottom:1px solid #333333">$16.39</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">EQIX</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Equinix · Real Estate / Data Centres</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+9.57</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:right;border-bottom:1px solid #333333">$1,056.84</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">PARR</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Par Pacific Holdings · Energy</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+9.43</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:right;border-bottom:1px solid #333333">$65.81</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">ACHC</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Acadia Healthcare · Health Care</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+9.29</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:right;border-bottom:1px solid #333333">$26.55</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">DRS</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Leonardo DRS · Industrials / Defence</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:right;border-bottom:1px solid #333333">$47.43</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">DOW</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Dow Inc. · Materials</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:right;border-bottom:1px solid #333333">$40.11</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">UI</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Ubiquiti · Information Technology</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+9.14</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:right;border-bottom:1px solid #333333">$951.04</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">VIRT</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Virtu Financial · Financials</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:right;border-bottom:1px solid #333333">$50.89</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">BW</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333">Babcock & Wilcox · Industrials</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+9.00</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:right;border-bottom:1px solid #333333">$18.24</td> <td style="padding:40px;background-color:#1f1f1f"> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Key Observations</h3> <div style="margin-bottom:20px"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">1 — Health Care is the Dominant Rotation Target</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">10 of 15 Top Q Positive signals in Health Care. All carry Q Scores between −7.43 and −8.43 with Positive direction — uniform institutional re-entry after deep oversold period. Health Care gained +1.27% today, strongest sector on the session. Pre-earnings windows open now through the 5–12 May period.</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">2 — MAGS is the Headline Cross-Sector Signal</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">83% T1 and T2 hit rates with 0% stop-loss probability. The Q Score data indicates the Mag 7 basket has cleared the institutional accumulation threshold. Price at the 200-week SMA is base formation, not breakdown.</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">3 — CLF Has a 6-Day Earnings Window</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">Deepest negative Q Score in the dataset at −8.71 · EV 6.88 · Earnings 20 April. The 37% stop-loss probability is the highest in the Top Q Positive cohort. Explicit position sizing discipline is required.</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">4 — Utilities Unwind Confirmed — Early Stage</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">AEE (Q +7.00 Negative) and today's −0.99% Utilities session performance are fully aligned. This is early-stage institutional exit from the Iran-war defensive trade, not a mature reversal.</p> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">5 — Deep Positive Themes: Defence, AI Infrastructure, Volatility Beneficiaries</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">DRS (Defence, +9.29), EQIX (AI Data Centres, +9.57), and VIRT (Market-Making, +9.14) represent structurally distinct Deep Positive themes. The Q Score data indicates these are sustained institutional positions. DOW's CEO transition adds a catalyst layer to a +9.29 reading already confirmed by Monday's outperformance.</p> <div> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">6 — SPX Q Score Remains Negative at −4.4 Despite 8-Session Rally</p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">The broad index velocity has not recovered to neutral. The Q Score framework does not endorse broad index exposure at current levels. Signal-specific positioning in the sectors identified above is the indicated approach.</p> <td style="padding:30px 40px;background-color:#2a2a2a;border-top:1px solid #404040"> <p style="margin:0;color:#999999;font-size:12px;line-height:1.7;text-align:center"> <strong style="color:#bbbbbb">Disclaimer:</strong> These insights are generated using AI and are provided for informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any security. The content may be incomplete or contain errors and should not be relied upon for investment decisions. Always consult a qualified financial adviser before making financial choices. </p> </td><td style="background-color:#152030;padding:25px 40px;text-align:center"> <p style="margin:0 0 5px 0;color:#DEDC04;font-size:12px;font-weight:bold">Source: Quantmatix – Proprietary US Market Data Analysis</p> <p style="margin:0;color:#ffffff;font-size:12px">Monday 14 April, 2026</p> </td></div></div></td></div></div></div></tr></table></td></tr></tbody></table>

Quantmatix Research - April 12, 2026 <table style="background-color:#1a1a1a"> <tbody><tr> <td style="padding:20px 0"> <table style="background-color:#2a2a2a;max-width:600px"> <td style="background-color:#152030;padding:30px 40px;text-align:center"> <h1 style="margin:0 0 10px 0;color:#ffffff;font-size:24px;font-weight:bold;line-height:1.3">Quantmatix Research</h1> <h2 style="margin:0 0 15px 0;color:#DEDC04;font-size:18px;font-weight:normal;line-height:1.4">US Sectors & Stocks — Best Week Since November. Iran Talks Collapse Over Weekend.</h2> <p style="margin:0;color:#ffffff;font-size:14px">Sunday 12 April, 2026 </p> <p style="margin:5px 0 0 0;color:#DEDC04;font-size:13px;font-style:italic">Prepared by: Liam Boggan, CEO & Founder, Head of Research</p><p style="margin:5px 0 0 0;color:#DEDC04;font-size:13px;font-style:italic"><br /></p> </td> </table></td></tr> <tr> <td style="padding:25px 40px;background-color:#3a1a1a;border-left:4px solid #cc3333"> <p style="margin:0 0 8px 0;color:#ff6666;font-size:14px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><span style="font-size:14px"><img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> Critical Alert — Sunday 12 April</span></p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">Iran peace talks collapsed over the weekend. Vice President Vance left Pakistan with no deal. President Trump has threatened a Strait of Hormuz blockade (CNBC, 12 Apr). This is a significant re-escalation after the 2-week ceasefire that drove last week's rally. <strong style="color:#ffffff">Energy, LNG, and oil-exposed positions face renewed pressure when markets open Monday.</strong></p> </td><td style="padding:40px 40px 50px 40px;background-color:#2a2a2a"> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Executive Summary</h3> <p style="margin:0 0 15px 0;color:#d0d0d0;font-size:15px;line-height:1.8">The Q Score framework confirmed a cluster formation this week exactly as anticipated in the 8 April edition. Top Q Positive signals expanded from <strong style="color:#ffffff">7 to 11</strong>. The S&P 500 posted its best weekly gain since November, up <strong style="color:#ffffff">+3.9%</strong>, with SPX Q Score turning Positive for the first time since the Iran War began.</p> <p style="margin:0;color:#d0d0d0;font-size:15px;line-height:1.8">However, the Hormuz blockade threat announced Sunday introduces a new variable the Friday data does not yet capture. The signal framework's risk reference levels remain valid — but the macro environment has shifted materially over the weekend.</p> </td><td style="padding:40px 40px 50px 40px;background-color:#1f1f1f"> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Signal Scorecard — Fri 11 Apr vs Mon 7 Apr</h3> <table style="border-collapse:collapse;font-size:14px"> <thead> <tr style="background-color:#2a2a2a"> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Metric</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">7 Apr</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">11 Apr</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Note</th> </tr></thead> <tbody> <tr style="background-color:#252525"> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Top Q Positive</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">7</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">11</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Cluster confirmed</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Top Q Negative</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">1</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">2</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">LNG new · LIN cont.</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">TEVO Signals</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">29</td> <td style="padding:10px 12px;color:#ffffff;text-align:center;font-weight:bold;border-bottom:1px solid #333333">14</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Compression — signals converted</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">SPX QScore Direction</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">Negative</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">Positive </td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Direction switch</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">SPX Week</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">—</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+3.9%</td> <td style="padding:10px 12px;color:#d0d0d0;border-bottom:1px solid #333333">Best since November</td> <td style="padding:10px 12px;color:#d0d0d0">IT Advancing</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center">—</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold">50%</td> <td style="padding:10px 12px;color:#d0d0d0">4th consecutive week improving</td> </tr></tbody> </table> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Key Signal Points</h3> <div style="margin-bottom:25px"> <h4 style="margin:0 0 8px 0;color:#ffffff;font-size:15px;font-weight:bold">Cluster Confirmed: Top Q Positive 7 → 11</h4> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">Health Care leads with 5 signals. Consumer Discretionary (REAL) and Financials (AIZ, BRBS) join for the first time this cycle.</p> </div> <h4 style="margin:0 0 8px 0;color:#ffffff;font-size:15px;font-weight:bold">SPX Direction Turned Positive</h4> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">Q Score −4.86 Positive direction — first confirmed direction change at index level since the Iran War began. Best weekly gain since November. Positive direction confirmed but score remains in negative territory.</p> <h4 style="margin:0 0 8px 0;color:#ff6666;font-size:15px;font-weight:bold">Iran Talks Collapsed. Hormuz Blockade Threatened.</h4> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">New significant escalation after Friday close. Energy and LNG names face renewed pressure Monday. Oil re-premium risk is live again. Seeking Alpha (12 Apr): Iran risks "not priced into markets."</p> <h4 style="margin:0 0 8px 0;color:#ffffff;font-size:15px;font-weight:bold">Software Hit by AI Disruption: IGV −7.1%, XSW −6.2%</h4> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">Anthropic's Mythos AI model triggered a sharp SaaS selloff Friday. IGV Q Score −7.43 Positive direction — score improving despite price drop. The Q Score signal holds.</p> <div> <h4 style="margin:0 0 8px 0;color:#ffffff;font-size:15px;font-weight:bold">Earnings Season Opens: IBM · MOH · TMO · LVS</h4> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.8">IBM (TEVO, 73.2% HR, T1 $258.26) and MOH (TEVO, 83.7% HR — highest in TEVO list, T1 $164.96) both report Tuesday 22 April. TMO (Top Q Positive, 74%, T1 $522.24) reports Wednesday 23 April. The cluster walks directly into earnings season.</p> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Magnificent Seven (MAGS) — 5 of 7 Now Positive Direction</h3> <p style="margin:0 0 25px 0;color:#d0d0d0;font-size:14px;line-height:1.8">GOOGL flipped Positive (+0.71 — largest Change in MAGS) after three consecutive weeks Declining. NVDA resolved Positive. AMZN carries the strongest Change (+1.00). Only AAPL and TSLA remain outside the positive cluster.</p> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Stock</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Score</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Chg</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Direction</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Week</th> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">AMZN</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−5.14</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.00</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#66cc66">Positive ▲</span></td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+11.5%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">GOOGL ★ FLIP</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−4.00</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.71</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;border-bottom:1px solid #333333">+4.4%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">META</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−4.57</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+0.57</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;border-bottom:1px solid #333333">+9.6%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">MSFT</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.00</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">−0.4%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">NVDA</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−3.71</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">0.00</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">+2.6%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">AAPL</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−2.57</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−0.43</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">Declining ▼</span></td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">flat</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">TSLA</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center">−7.00</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center">0.00</td> <td style="padding:10px 12px;text-align:center"><span style="color:#ff6666">Declining ▼</span></td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center">+1.0%</td> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Top Q Positive — Top 5 by Expected Value</h3> <p style="margin:0 0 25px 0;color:#999999;font-size:13px">Ranked by T1 Hit Rate × T1 Upside% · 11 signals total · ★ = new this edition</p> <table style="border-collapse:collapse;font-size:13px"> <tr style="background-color:#1f1f1f"> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">#</th> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Name</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Score · Chg</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">T1 · HR · Upside</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Q Band</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Earnings</th> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">1</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">REAL ★ NEW<br /><span style="color:#999999;font-weight:normal;font-size:12px">The RealReal · Cons Disc</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−5.29 · +1.29</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$11.28 · 64.7% · +16.4%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$7.56</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">14 May</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">2</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">RDDT CONT.<br /><span style="color:#999999;font-weight:normal;font-size:12px">Reddit · Comm Services</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.43 · +0.57</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$157.88 · 50% · +13.0%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$110.56</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">07 May</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">3</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">BRKR CONT.<br /><span style="color:#999999;font-weight:normal;font-size:12px">Bruker · Health Care</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−7.00 · +1.29</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$40.90 · 66.7% · +8.8%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$31.24</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">06 May</td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold;border-bottom:1px solid #333333">4</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">TMO TEVO CONT.<br /><span style="color:#999999;font-weight:normal;font-size:12px">Thermo Fisher · Dual Confirmed</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.57 · +0.57</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$522.24 · 74% · +5.3%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$451.13</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">23 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:10px 12px;color:#DEDC04;font-weight:bold">5</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">AIZ ★ NEW<br /><span style="color:#999999;font-weight:normal;font-size:12px">Assurant · Financials</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center">−6.57 · +0.71</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold">$230.77 · 71.1% · +5.2%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center">$202.42</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center">05 May</td> <h3 style="margin:0 0 10px 0;color:#ff6666;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 10px 0;color:#ff6666;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Top Q Negative — Both Signals</h3> <p style="margin:0 0 20px 0;color:#999999;font-size:13px">LNG watches Hormuz directly · High Score Neg Reversals: XLE +8.00 · XOP +8.29 · IEO +8.29</p> <div style="margin-bottom:20px;padding:15px;background-color:#2a1a1a;border-left:3px solid #cc3333"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">LNG ★ NEW — Cheniere Energy · Energy <span style="color:#aaaaaa;font-weight:normal;font-size:13px">[+8.43 · −0.71 Declining]</span></p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.7">Most urgent signal entering Monday. T1 downside $248.80 · Q Band $290.97 · Earnings 7 May. Hormuz blockade threat makes this the highest-conviction negative Velocity signal in the report.</p> <div style="padding:15px;background-color:#2a2a2a;border-left:3px solid #666666"> <p style="margin:0 0 5px 0;color:#ffffff;font-size:15px;font-weight:bold">LIN CONT. — Linde · Materials <span style="color:#aaaaaa;font-weight:normal;font-size:13px">[+7.29 · −0.71 Declining]</span></p> <p style="margin:0;color:#d0d0d0;font-size:14px;line-height:1.7">Continuing signal. T1 downside $481.68 · Q Band $528.12 · Earnings 1 May.</p> <h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 10px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">TEVO — Top 5 by Expected Value</h3> <p style="margin:0 0 25px 0;color:#999999;font-size:13px">14 signals total · Top 5 shown · <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /> = imminent earnings</p> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">AGYS CONT.<br /><span style="color:#999999;font-weight:normal;font-size:12px">Agilysys · IT</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−9.00 · 0.00</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$79.48 · 69.6% · +27.8%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$59.57</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">18 May</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">JOBY ★ NEW<br /><span style="color:#999999;font-weight:normal;font-size:12px">Joby Aviation · Industrials · Highest HR</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−9.14 · +0.14</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$10.06 · 83.3% · +20.6%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$7.05</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">MOH ★ NEW<br /><span style="color:#999999;font-weight:normal;font-size:12px">Molina Healthcare · Health Care</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−5.57 · +0.43</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$164.96 · 83.7% · +13.1%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$114.67</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold;border-bottom:1px solid #333333">22 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">ADP CONT.<br /><span style="color:#999999;font-weight:normal;font-size:12px">Automatic Data Processing · Industrials</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−8.57 · 0.00</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">$215.07 · 69.8% · +13.9%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">$190.88</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center;border-bottom:1px solid #333333">29 Apr</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">IBM ★ NEW<br /><span style="color:#999999;font-weight:normal;font-size:12px">IBM · IT</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center">−8.86 · 0.00</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold">$258.26 · 73.2% · +11.9%</td> <td style="padding:10px 12px;color:#aaaaaa;text-align:center">$211.96</td> <td style="padding:10px 12px;color:#ff9900;text-align:center;font-weight:bold">22 Apr <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3><h3 style="margin:0 0 25px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Sector Scorecard — Fri 11 Apr</h3> <th style="padding:10px 12px;text-align:left;color:#ffffff;border-bottom:2px solid #404040">Sector</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">Adv%</th> <th style="padding:10px 12px;text-align:center;color:#ffffff;border-bottom:2px solid #404040">ETF Wk</th> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">Technology</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−5.29</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#66cc66">Positive — 4th wk</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">50%</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+4.88%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">Financials</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−5.71</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#66cc66">Positive — 5th wk</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">33%</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+1.8%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">Comm Services</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#66cc66">Positive — 3rd wk</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">58%</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+2.01%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">Consumer Disc ★</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−7.00</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#66cc66">Positive — NEW FLIP</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">40%</td> <td style="padding:10px 12px;color:#66cc66;text-align:center;font-weight:bold;border-bottom:1px solid #333333">+4.38%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">Utilities</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">+7.29</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#66cc66">Positive — Most Mature</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">62%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">Health Care</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−4.43</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">Declining — stock level only</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">46%</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;border-bottom:1px solid #333333">ETF ↓ vs stocks ↑</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">Energy <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">+8.00</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">Declining — Neg Rev</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">16%</td> <td style="padding:10px 12px;color:#ff6666;text-align:center;font-weight:bold;border-bottom:1px solid #333333">−6.8%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">Consumer Staples</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">+2.00</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">Declining — Bull Unwind</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">20%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">Materials</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">+2.86</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">28%</td> <td style="padding:10px 12px;color:#ffffff;border-bottom:1px solid #333333;font-weight:bold">Industrials</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">−0.57</td> <td style="padding:10px 12px;text-align:center;border-bottom:1px solid #333333"><span style="color:#ff6666">Declining — Improving</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center;border-bottom:1px solid #333333">22%</td> <td style="padding:10px 12px;color:#ffffff;font-weight:bold">Real Estate</td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center">+0.14</td> <td style="padding:10px 12px;text-align:center"><span style="color:#ff6666">Declining — Negative</span></td> <td style="padding:10px 12px;color:#d0d0d0;text-align:center">21%</td> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px"><br /></h3> <td style="padding:40px;background-color:#1f1f1f"> <h3 style="margin:0 0 20px 0;color:#DEDC04;font-size:18px;font-weight:bold;text-transform:uppercase;letter-spacing:0.5px">Imperative</h3> <p style="margin:0 0 15px 0;color:#d0d0d0;font-size:15px;line-height:1.8"><strong style="color:#ffffff">LNG is the most urgent signal entering Monday.</strong> The Hormuz blockade threat makes Cheniere Energy (Top Q Negative, +8.43) the highest-conviction negative Velocity setup in the report. XLE, XOP, and IEO all confirm concurrent High Score Negative Reversals.</p> <p style="margin:0 0 15px 0;color:#d0d0d0;font-size:15px;line-height:1.8"><strong style="color:#ffffff">MOH and IBM are the highest-priority TEVO setups this week</strong> — both report Tuesday 22 April. MOH carries the highest T1 hit rate in the TEVO list (83.7%). Both enter earnings with the Q Score framework confirming positive Velocity.</p> <p style="margin:0;color:#d0d0d0;font-size:15px;line-height:1.8"><strong style="color:#ffffff">Health Care engagement should be at stock level only.</strong> TMO (earnings 23 Apr, dual Top Q Positive + TEVO, 74% HR) is the immediate priority. The XLV ETF does not reflect the stock-level accumulation confirmed across 5 Top Q Positive signals this edition.</p> </td><td style="padding:30px 40px;background-color:#2a2a2a;border-top:1px solid #404040"> <p style="margin:0;color:#999999;font-size:12px;line-height:1.7;text-align:center"> <strong style="color:#bbbbbb">Disclaimer:</strong> These insights are generated using AI and are provided for informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any security. The content may be incomplete or contain errors and should not be relied upon for investment decisions. Always consult a qualified financial adviser before making financial choices. </p> </td><td style="background-color:#152030;padding:25px 40px;text-align:center"> <p style="margin:0 0 5px 0;color:#DEDC04;font-size:12px;font-weight:bold">Source: Quantmatix – Proprietary US Market Data Analysis</p> <p style="margin:0;color:#ffffff;font-size:12px">Sunday 12 April, 2026</p> </td></div></div></tr></table></div></td></tr></tbody></table>

Quantmatix — Ceasefire Briefing · 8 April 2026 <div class="wrapper"> <div class="header"> <h1>Ceasefire Cluster Developing — Significant Number of Positive Signals. Watching for Confirmation.</h1> <div class="sub">A significant signal cluster is forming. Here's what the data says.</div> <div class="meta">Wednesday 8 April 2026 · Q Score data: Tuesday 7 April close</div> <div class="author">Liam Boggan · CEO & Founder · Quantmatix</div> </div> <div class="alert"> <div class="a-title">⚑ What We Are Watching</div> <div class="a-body">Tuesday's ceasefire rally — stocks up strongly, oil down 18%, fear index down sharply — was one of the biggest single-day moves of this cycle. Our signal scores haven't yet fully updated to reflect it. <strong>We expect a significant cluster of new buy signals to form in the next data refresh.</strong> The question we're focused on is: precisely where does institutional money go next? Technology and Financials are leading the answer.</div> <div class="section section-dark"> <div class="section-title">What Happened</div> <p>On Tuesday evening, a <strong>2-week ceasefire was announced</strong> between the US and Iran. Markets responded dramatically on Tuesday: oil fell 18% (its biggest single-day drop since 2020), stocks surged globally, and the fear index (VIX) collapsed.</p> <p>Critically, <strong>this is a pause, not a resolution.</strong> The ceasefire is a 2-week negotiating framework. BNY's chief strategist noted the situation is "unlikely to return to what it was before the conflict." Nasdaq short positions are still at 91% — institutional investors are not yet convinced this is over. Our broad market signal (SPX Q Score) remains negative and has not reversed direction.</p> <p>But beneath the surface, our signals had already been picking up accumulation in Technology and Financials for three to four consecutive weeks — before the ceasefire. The price move on Tuesday is confirming what the data was already pointing toward.</p> <div class="section section-mid"> <div class="section-title">The Big Shifts</div> <div class="theme"> <div class="theme-icon ic-down">↓</div> <div class="theme-body"> <div class="theme-title">Energy stocks — the trade is changing</div> Oil prices fell sharply on the ceasefire news, and energy company stocks have been declining for weeks already. Our signals had flagged this peak in energy equities before the ceasefire hit. The war premium that drove these stocks is now unwinding. Williams Companies (WMB) already triggered our peak/exit signal. Reduce energy equity exposure. <div class="theme-icon ic-warn">!</div> <div class="theme-title">Volatility — the signal confirmed, reduce exposure</div> We flagged the risk of a volatility reversal for three consecutive weeks. On Tuesday it confirmed: the fear index (VIX) fell sharply to 20.32. The data says reduce long volatility positions. Don't hold them on the view that the war isn't truly over — the signal is the signal. <div class="theme-icon ic-up">↑</div> <div class="theme-title">Technology — three weeks of building momentum</div> Technology is now the strongest sector in our universe, with 60% of individual tech stocks showing improving momentum — the highest of any sector. This improvement started three weeks ago, before the ceasefire. XLK (the tech ETF) is showing its third consecutive week of improving scores. Key names: Microsoft and Amazon are both confirmed tactical buy setups with strong historical hit rates. <div class="theme-title">Financials — four weeks of building momentum, 9 buy setups</div> Financials are showing their fourth consecutive week of improving momentum. This week produced 9 tactical buy setups (TEVO signals) in financial stocks — the largest count of any sector. Like Technology, this accumulation was already building before the ceasefire catalysed the price move. <div class="theme-title">Safe havens unwinding</div> The defensive sectors that held up during the war — Consumer Staples, Industrials, and Materials — are now rolling over quickly. Capital is rotating out of these havens and into Technology and Financials. Reduce positions in these sectors; the defensive premium has been distributed. <div class="theme-icon ic-watch">?</div> <div class="theme-title">The big tech names — now treat them individually</div> The "Magnificent Seven" is no longer moving as one. Meta flipped to positive momentum for the first time this cycle. Microsoft and Amazon are confirmed buy setups. But Alphabet has actually deteriorated significantly in momentum terms despite its share price rising. Tesla fell on a day markets celebrated the ceasefire. Nvidia reversed after just one week of improvement. Own Microsoft and Amazon; be cautious on the rest. <div class="section-title">Strongest POSITIVE Signals This Week</div> <p style="margin-bottom:16px">Our buy signal count grew to 29 tactical setups (up from 19 last week). Here are the standouts:</p> <div class="stock-row warn"> <div class="sr-left"> <div class="sr-name">Robinhood (HOOD)</div> <div class="sr-desc">Financial services · Highest historical hit rate in this report · Earnings 28 April</div> <div class="sr-right"> <div class="sr-target">Target $80.53 · +15.6%</div> <div class="sr-rate">84.6% historical hit rate</div> <div class="sr-stop">Stop $56.23</div> <div class="stock-row"> <div class="sr-name">Kyndryl Holdings (KD)</div> <div class="sr-desc">IT services · Highest expected value in the TEVO list · Earnings 6 May</div> <div class="sr-target">Target $15.93 · +22.6%</div> <div class="sr-rate">75% historical hit rate</div> <div class="sr-stop">Stop $7.32</div> <div class="sr-name">Microsoft (MSFT)</div> <div class="sr-desc">Technology · 2nd consecutive week as a buy setup</div> <div class="sr-target">Target $397.16 · +6.7%</div> <div class="sr-rate">73% historical hit rate</div> <div class="sr-stop">Stop: Q Band reference</div> <div class="sr-name">Amazon (AMZN)</div> <div class="sr-target">Target $225.46 · +5.5%</div> <div class="sr-rate">74% historical hit rate</div> <div class="sr-name">Thermo Fisher (TMO)</div> <div class="sr-desc">Health care · Dual confirmed signal · Earnings 23 April <img src="https://community.quantmatix.com/assets/plugins/nodebb-plugin-emoji/emoji/android/26a0.png?v=61548701430" class="not-responsive emoji emoji-android emoji--warning" style="height:23px;width:auto;vertical-align:middle" title="⚠" alt="⚠" /></div> <div class="sr-target">Target $517.05 · +5.6%</div> <div class="sr-stop">Stop $447.91</div> <div class="sr-name">Astera Labs (ALAB)</div> <div class="sr-desc">Technology · Highest expected value in the Top Q Positive list</div> <div class="sr-target">Target $141.63 · +19.0%</div> <div class="sr-stop">Stop $83.06</div> <div class="section-title">Exit Signals — Act Now</div> <div class="stock-row neg warn"> <div class="sr-name">Quest Diagnostics (DGX)</div> <div class="sr-desc">Health care · Most urgent — earnings in 13 days on 21 April</div> <div class="sr-target">Downside ref $188.92</div> <div class="sr-rate">Score deteriorating · Exit now</div> <div class="stock-row neg"> <div class="sr-name">Linde (LIN)</div> <div class="sr-desc">Materials · Peak signal confirmed · Earnings 7 May</div> <div class="sr-target">Downside ref $475.45</div> <div class="sr-rate">Score +7.14 · Declining</div> <p style="margin-top:16px;font-size:13px;color:#999">Also reduce: energy ETFs (XLE, XOP, IEO) on any remaining strength. The energy equity trade has peaked — the ceasefire removes the supply premium that drove these stocks.</p> <div class="section-title">What to Focus on This Week</div> <ul class="simple-list"> <li><span class="li-dot li-red">1</span><span><strong>Exit DGX immediately.</strong> Earnings are 21 April — 13 days away. The signal has peaked and the clock is ticking. This is the most time-sensitive action in this report.</span></li> <li><span class="li-dot li-yellow">2</span><span><strong>Reduce long volatility positions.</strong> The VIX reversal signal we flagged for three weeks has now confirmed. The data says reduce — regardless of your view on whether the war is truly over.</span></li> <li><span class="li-dot li-green">3</span><span><strong>HOOD is the standout tactical setup.</strong> 84.6% historical hit rate on target 1. The ceasefire compression of risk premiums is directly aligned with a retail financial platform like Robinhood. Earnings on 28 April create a time window.</span></li> <li><span class="li-dot li-green">4</span><span><strong>Technology and Financials are the rotation destination.</strong> Both sectors have been building momentum for 3–4 consecutive weeks. Use individual stock signals (Microsoft, Amazon, Kyndryl, Robinhood) rather than buying the broad ETFs, which haven't yet confirmed their own direction reversals.</span></li> <li><span class="li-dot li-yellow">5</span><span><strong>Watch for the next signal update.</strong> Tuesday's rally will generate a significant cluster of new positive signals when the scores refresh. We'll map precisely where that cluster forms — that's where the data will confirm institutional capital is repositioning.</span></li> </ul> <div class="footer"> <p>Source: Quantmatix — US Market Data</p> <p class="date"><span style="font-weight:bolder;background-color:rgb(42, 42, 42);color:rgb(187, 187, 187)">Disclaimer:</span><span style="color:rgb(153, 153, 153);background-color:rgb(42, 42, 42)"> These insights are generated using AI and are provided for informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any security. The content may be incomplete or contain errors and should not be relied upon for investment decisions. Always consult a qualified financial adviser before making financial choices.</span></p></div></div></div></div></div></div></div></div></div></div></div></div></div>