Tuesday, September 29, 2026

QNTM Day Wrap — Tuesday, September 29, 2026

QNTM's rules-based model returned +0.09% today, outperforming SPY's -0.18%, a roughly 27-basis-point edge across 50 holdings.

What drove it: Conviction across the 1,418-name universe sat at just 47.7 (only 1.3% scored "high conviction"), reflecting a market that traded on headlines, not fundamentals. Index-level weakness centered in financials and parts of tech: bank stocks led the way lower, with Goldman Sachs sliding around 1% and JPMorgan Chase, Morgan Stanley and Bank of America also declining , while a leaked Anthropic IPO prospectus raised more questions about the AI trade and OpenAI halted release of its next-generation AI model due to safety concerns . The model's regime overlay flagged "war de-escalation" today, which meant lighter exposure to the bank/rate-sensitive and AI-hype names that lagged, letting the portfolio sidestep the day's weakest pockets even as the tape was choppy.

Market recap: Major indices finished mixed-to-lower — the Dow fell 0.2%, the S&P 500 declined 0.1%, and the Nasdaq slipped below the flat line , as long-dated bond yields continued to rise even as oil pulled back, with WTI trading about 2.2% lower near $90.71 on signs of easing in the seven-month Iran conflict . JOLTS data was due mid-morning at ~7.2 million openings expected.

What's next: Traders will watch for further oil/yield direction and any follow-through on U.S.-Iran talks into month-end.

Research/education only — not investment advice.