Daily brief — July 20, 2026
Momentum's worst 20-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 20d vs S&P: -7.8% (-3.0σ, 0th pctile)
- High beta 20d vs S&P: -9.3% (-2.9σ, 0th pctile)
That's the 4th-worst 20-day run for Momentum against the index since January 2020.
Breadth: 63% of the index above its 50-day average (a month ago: 56%); 67% above the 200-day.
- Since yesterday: highbeta back inside 2σ (5d)
- Since yesterday: momentum back inside 2σ (5d)
- Since yesterday: quality back inside 2σ (5d)
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: AI Displacement Risk leads (+11.6%), AI Infrastructure Leaders lags (-15.8%).
Sectors, 5d vs S&P: Real Estate leads (+2.3% (+1.1σ, 87th pctile)), Technology lags (-0.7% (-0.5σ, 30th pctile)).
Analyst tape: 145↑ / 114↓ FY1 EPS (net +7%) in the July 20 read.
FW 3000: Momentum -3.7% (-1.6σ) 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.