Daily brief — July 8, 2026
Momentum's worst five-day run against the index in a year. As published at the market close. The live view is always on the dashboard.
Unusual moves
- Momentum 5d vs S&P: -5.8% (-3.9σ, 0th pctile)
- High beta 5d vs S&P: -6.1% (-2.9σ, 0th pctile)
- Quality 5d vs S&P: -1.5% (-2.2σ, 0th pctile)
That's the 4th-worst 5-day run for Momentum against the index since January 2020.
Breadth: 64% of the index above its 50-day average (a month ago: 53%); 65% above the 200-day.
20d leadership: value (held 1d, prev size)
- Rotation flag: highbeta went top→bottom quartile in 20 trading days
July seasonality (30y): market +1.2% mean / 60% hit; momentum +0.5% mean / 50% hit; value +0.6% mean / 43% hit; size -0.8% mean / 37% hit; quality +1.1% mean / 70% hit.
Baskets, 20d vs S&P: Regional Banks leads (+5.4%), AI Displacement Risk lags (-8.5%).
Sectors, 5d vs S&P: Financial Services leads (+2.6% (+1.8σ, 95th pctile)), Industrials lags (-2.2% (-1.4σ, 6th pctile)).
Analyst tape: 101↑ / 72↓ FY1 EPS (net +6%) in the July 8 read.
FW 3000: Momentum -9.3% (-4.1σ) on the week vs the broad benchmark — the 3,000-name universe, beyond large caps.
Computed from S&P 500 constituents, point-in-time quintile portfolios. Provided as-is, with no guarantee of accuracy, timeliness, or freedom from errors. Not investment advice.