Sent 7/17/2026 · 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: 743.49.

QQQ: 692.47.

VIX: 18.55.

Market State 4 of 9: Chop, neutral bias.