Saturday, July 4, 2026

QNTM Day Wrap — Friday, July 4, 2026

No session today. July 4 fell on a Saturday, and US exchanges observed the holiday on Friday, July 3, so the NYSE and Nasdaq were closed, with no regular trading in US stocks or ETFs and no standard session for major indices . That's why QNTM's model portfolio and SPY both printed flat (model: -0.0%, SPY: 0.0%) — there was simply no tape to trade.

Why the RISK_OFF tag anyway: QNTM's regime overlay carries forward the "war_escalation" flag tied to the ongoing 2026 Iran conflict, which has kept volatility elevated across recent sessions even as headlines cycle between strikes and diplomacy. Tensions in the Middle East flared again over the weekend, but markets appeared largely unfazed, with investors instead turning attention to a tech recovery rally heading into the holiday. Conviction sat at 55.3 with only 20.4% of the ~1,000-name universe scored high-conviction — a cautious, unremarkable reading consistent with a market pausing rather than trending.

Last real session (Thursday, July 2): Most US stocks climbed toward the finish of a winning week, but drops for tech kept indexes mixed . Chip names stayed choppy after