Everything Is About to Change.

NEW Major Signals and Historical Studies.

---

What a week, month, and year it’s been…

2026 has produced some of the toughest, most extreme market conditions anyone has ever seen:

✅ Closing the book on July’s historic momentum crash:

• Having spent two grueling months sharing my thoughts on *RISK* management, and avoiding crowded themes — then watching as some of our Core themes/positions went UP during July’s momentum crash, overall I’m proud of the hard work we’ve done, and what we were able to achieve so far.

✅ This week:

• MSFT posted its best day in 18 years, and its best week in 27 years. The stock was up 25% in July, a strong portfolio addition.

• AMZN posted its best day in 14 years, and its best week in 11 years. The stock was up 14% in July, another solid addition.

✅ Even more important, my Core view is beginning to play out:

• A few companies and groups are beginning to LEAD the “race to ROI” — and earnings results are validating their strategy.

• The market is sending a loud and clear message: AI winners will be rewarded. As will their investors.

This matters more than everything…

---

Patient investors are quietly winning this year:

As I wrote last month—“The Race is On”:

Momentum chasers could suffer BIG losses, triggering more outflows and deleveraging.

Patient investors focused on holding Quality and Low-volatility stocks could shine.

Who will win this year — the Tortoise or the Hare?

The Race is ON.

Momentum stocks fell 50-70% in July, while high-quality stocks were up 5-25%.

---

I’ve been in this game long enough to know that it’s a marathon, and 2026 still has an eternity left…

I think August could be an investor’s dream:

• A LOT of positioning is offsides across many key markets.

• History may have quite a few tricks up its sleeve (for those who want to study it).

Lots of work to do — we’re just getting started.

Looking forward to August…

Ready for whatever comes next: with patience, process, and discipline.

Onwards and upwards.

---

In today’s report:

✅ EVERYTHING IS ABOUT TO CHANGE — A Special Update with NEW Major Signals and Historical Studies.

✅ One of THE most important TACTICAL setups of the year.

✅ Thinking about August(!!)

✅ NEW setups on HIGH-PRIORITY watch.

Have a great week ahead!

---