The obvious laggard is obvious. This one is still running.

Today's market and our positions

CUE is up 15% in five days and carrying the whole portfolio on its back right now. That kind of move deserves respect. The Relative Strength Engine flagged it early, and the chart has been making the case ever since. Meanwhile, SPY closed at $740.71, up 1.61% on the session — but one good afternoon doesn't clean up 22 days of drift. Over that same stretch, we're sitting at +0.8% while SPY is down 2.0%. That's +2.8% alpha on the scoreboard, and it didn't come from the index cooperating. Three of our four closed trades have been winners. The win rate stands at 75%.

What our open trades are doing

CUE (Relative Strength Engine, day 5): Entry was $26.43. We're at $30.43 now. The Relative Strength Engine hunts for names that hold their ground when everything else wobbles — and CUE has done exactly that, posting +15.1% while SPY gained less than 1% over the same window. The question now is whether it can hold this range or whether the first signs of a stall start creeping in. That's the next thing we're watching. CWAN (Breakout Engine, day 8): Flat and quiet — entry $24.52, now $24.56, up 0.16%. That sounds like nothing, until you remember SPY was dropping when this name refused to give back its breakout level. The Breakout Engine grabbed it when it cleared a key level, and it hasn't surrendered that level since. No drama. Sometimes no drama is the whole point. PIII (Relative Strength Engine, day 15): This is the honest conversation. Entry $24.81, now $12.50, down 2.42% on the day — and it underperformed SPY by 0.59% on a session when the index actually rallied. Fifteen days in with a -6.8% open P&L is uncomfortable, and we're not going to pretend otherwise. The engine is still holding it. But a name flagged for resilience that lags on up days earns extra scrutiny going into tomorrow.

Today's closed trades, post-mortem

No trades closed today. Nothing to post-mortem. The slate is clean — which, in a choppy stretch like this one, is its own kind of result.

What could change by tomorrow's open

PIII is the clearest watch item heading into tomorrow's open. When the Relative Strength Engine originally flagged it for resilience and it's now lagging on up days, that's a signal worth sitting with — not panicking over, but not ignoring either. More broadly, one strong SPY session doesn't erase 22 days of chop, so we're not rewriting the narrative off a single bounce. CUE at +15% also carries natural give-back risk. Extended moves can unwind fast, and a turn in the broader tape has a way of finding the most stretched names first.

What we're watching tomorrow

Tomorrow morning the engines run fresh scans, and SPY's bounce today could shake some breakout setups loose — or it could turn out to be a one-day reprieve in a chop that isn't finished with us yet. Either way, CUE is the name to watch at the open. How it handles the first hour will tell us a lot about whether this move still has legs or whether it's starting to run on fumes.