Saturday, August 8, 2026

QNTM Week Wrap — Aug 3–8, 2026

The model portfolio slipped -0.18% this week while SPY gained +2.06% — a ~2.2-point shortfall as mega-caps led the tape. Monday set the tone: the major stock averages surged in Monday's session to start August trading, with the Dow closing at a record high as Amazon eclipsed $3 trillion in market cap . Tech held through midweek before Wednesday's geopolitical scare hit risk appetite: a flare-up in geopolitical risks sent stocks and bonds lower as oil jumped, with escalating Middle East tensions driving Brent crude to $83 , dragging down memory/hardware names as Sandisk Corp. and Western Digital Corp. sank as their forecasts underwhelmed investors .

Friday's jobs miss flipped sentiment: the U.S. economy lost 23,000 jobs in July, the BLS reported, while unemployment held at 4.1% , sparking a rate-cut-hope rally. QNTM's biggest single-name drag was ad-tech: The Trade Desk's market cap fell roughly $1.8 billion Friday, with shares down 21.9% following disappointing third-quarter guidance . Momentum-tilted small/mid-caps like IREN and QuantumScape were relative bright spots on the week.

Macro backdrop: VIX near 14.9, WTI ~$78, regime reads "mildly bullish." Conviction sits at 49.9/100 with just 2.7% of the 1,422-name universe flagged high-conviction — a dispersed, cautious setup. A broad tariff overlay remained an active macro input, though market reaction stayed muted versus prior tariff shocks.

Next week: Tuesday's CPI report is the key scheduled catalyst for rate-path expectations.

Research/education only — not investment advice.