Tuesday, July 14, 2026

QNTM Day Wrap — July 14, 2026

The model portfolio returned +1.13% today versus +0.40% for SPY, a ~73bp outperformance day, with conviction sitting at a middling 53.8 across 1,000 scored names (NEUTRAL regime, VIX 16.4).

What drove it: The gap likely traces to sector positioning rather than a single mega-cap bet. Real Money moved into semis and select tech/growth after cooler CPI, and Nasdaq's outsized gain (+0.90% vs. Dow's +0.02%) suggests names with momentum/quality tilts — the kind QNTM's model favors — carried the day. Tower Semiconductor and CleanSpark jumped on upbeat company-specific news , the type of idiosyncratic mover that can lift a concentrated 50-name book. Meanwhile IBM shares plunged roughly 25% after the hybrid cloud products provider issued an earnings warning — a stock a value/quality screen would typically underweight, sparing the model that drag that hit the Dow.

Market recap: Investors parsed a softer-than-expected Consumer Price Index report, which showed that inflation rose 3.5% in June on an annualized basis, below economists' expectations of 3.8% . The CPI fell 0.4% from May, dragged down by the biggest decline in gasoline prices since 2022 . Bank earnings kicked off the season with JPMorgan Chase, Bank of America, and Wells Fargo posting solid, yet mixed and unspectacular results . Oil stayed elevated (WTI ~$79.58) on lingering Iran-Hormuz tensions.

Next: Watch continued Q2 bank/tech earnings and any follow-through in oil given the ongoing Strait