Sent 7/20/2026 · Public read after a 24-hour delay

Nothing to buy today. That's the signal.

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

SPY: 746.34.

QQQ: 702.10.

VIX: 18.18.

Market State 5 of 9: Chop, bearish bias.