Tuesday, October 13, 2026

Market Regime: RISK_ON QNTM's regime engine reads today's setup as risk-on — low volatility, war de-escalation signals, and firm breadth across the scored universe support continued risk-taking.

Conviction: 47.5/100 A mid-range composite with stock futures mixed and oil prices falling as investors prepared for a slew of earnings reports from major banks — conviction near the midpoint reflects a market waiting on bank earnings and tomorrow's CPI rather than a clear directional signal. Only 2.0% of the universe scores "high conviction," consistent with a wait-and-see tape.

On the calendar today

JPMorgan (JPM), Goldman Sachs (GS), Citigroup (C) and Wells Fargo (WFC) are all slated to release their results before the opening bell . Fed speakers dot the tape: Waller (7:45am ET), Bowman, Barkin, and Collins (8pm ET). Tomorrow brings September CPI.

Overnight & premarket

Dow futures were up roughly 300 points while S&P 500 futures were little changed , and Nasdaq futures lagged. Nasdaq futures were falling notably amid another sharp decline for semiconductors, led mostly by weak memory stocks, adding to prior-day weakness . UnitedHealth Group (UNH) rose 3.06% in premarket trading after beating Wall Street's third-quarter earnings expectations . In Europe, the German DAX and FTSE 100 both rose .

What to watch 1. Bank earnings reaction (JPM/GS/C/WFC) for credit and consumer signals. 2. Continued memory-chip weakness tied to reports that China's CXMT has made advances in its proprietary chip, raising fears US dominance in the space could be reduced . 3. Oil direction ahead of CPI — any further war-related de-escalation could pressure crude and support risk appetite.

Research/education only — not investment advice.