Paid Subscriber – Quant Portfolios make modest gains – Updates to main Portfolios – Update 09/04/26

Backtesting: The Reality Check Before You Risk Real Money

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• Quant Weekly – Up over 74% since June 2025

• Quant 30 – Up over 66% since June 2025

• Legacy – Up over 320% since April 2023

• Changes to the main Quant Portfolios

• Top Quant Stocks – Top 10 Financials EX Bank stocks

• Education – Backtesting: The Reality Check Before You Risk Real Money

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USA Stock market week ending 09/04/26

• SPY — SPDR S&P 500 ETF Trust: +0.1% — The broad large-cap market finished essentially flat for the week, with gains earlier in the week offset by Friday’s decline following a stronger-than-expected jobs report.

• DIA — SPDR Dow Jones Industrial Average ETF Trust: -0.2% — The Dow finished slightly lower as rising Treasury yields and increased expectations for a potential Fed rate hike pressured stocks.

• ^IXIC — Nasdaq Composite: +0.4% — Technology stocks helped the Nasdaq finish modestly higher despite Friday’s pullback, with semiconductors outperforming while software stocks lagged.

• IWM — iShares Russell 2000 ETF: +0.0% — Small-cap stocks finished essentially unchanged, reflecting continued sensitivity to interest-rate expectations and economic data.

• SPMO — Invesco S&P 500 Momentum ETF: +2.0% — Momentum stocks were the week’s strongest group among the listed benchmarks, benefiting from strength in technology and other higher-growth areas.

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Market Drivers this Week (09/07/26 – 09/11/26)

• Mon 9/7: Labor Day — U.S. stock and bond markets closed. No major U.S. economic releases.

• Tue 9/8: NFIB Small Business Optimism Index (August) at 6:00 AM ET; Consumer Credit (July) at 3:00 PM ET. The data provide a look at small-business sentiment and household borrowing.

• Wed 9/9: Employer Costs for Employee Compensation (June) at 10:00 AM ET, providing a detailed look at wage and benefit costs.

• Thu 9/10: PPI (August) at 8:30 AM ET, followed by Existing Home Sales and Wholesale Trade (July) at 10:00 AM ET. The ECB also announces its rate decision, making Thursday a particularly important day for global markets.

• Fri 9/11: CPI (August) at 8:30 AM ET, along with Real Earnings. CPI is the week’s key U.S. economic release and will be closely watched ahead of the Federal Reserve’s September 15–16 meeting, particularly after recent uncertainty over the path of interest rates.

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The CNN Fear and Greed Index ends the week at 42. The 10-week CNN Fear & Greed readings suggest that investor optimism has cooled substantially, leaving the market in a cautious state where sentiment could improve quickly if fundamentals surprise positively—or deteriorate further if expectations are disappointed.

• 9/4/26 – 42 Fear

• 8/28/26 – 54 Neutral

• 8/21/26 – 55 Neutral

• 8/14/26 – 65 Greed

• 8/7/26 – 64 Greed

• 7/31/26 – 42 Fear

• 7/24/26 – 39 Fear

• 7/17/26 – 37 Fear

• 7/10/26 – 49 Neutral

• 7/3/26 – 32 Fear

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The Quant Model Portfolios had a modestly up week with Momentum stocks rallying a little. Quant Weekly increase from 73% to 74% and Quant 30 increased from 63% to 66%. The market remains choppy with interest rates slowly rising and the middle east war unresolved.