Sent 6/25/2026 · Public read after a 24-hour delay

Markets are calm. That's the problem.

This public read omits positions, sizing and private email details. It is not a complete copy of the email.

SPY: 738.97.

QQQ: 727.00.

VIX: 17.87.

Market State 5 of 9: Chop, bearish bias.