Daily Brief · July 1, 2026 · Pre-Market ⚡ Elite — Members Only

Max conviction short loads on PATH. CRSP coils to 100%. MSTR's snapback fires live.

PATH carries the highest-confidence read on the entire scan — Conf 12 across three frames, 11-for-11 clean — with WTRG right behind it at 28-for-28. The number to know: MSTR's oversold snapback just fired live, more than a third below its VWAP anchor — the exact level is inside.

RegimeEarly Cycle

Composite+1 / 9

LayersBd ✓ · Eq ✓ · Rsk ✗

VIX1 · Low Fear (18)

Macro Bonus+2

LeaderEquities

EARLY CYCLE persists, but the Composite is thin at +1/9 with the risk layer bearish and Transition flagged Deteriorating across every ticker on the scan. Lean on the single-name setups below, not index length, until breadth's quiet recovery underneath actually shows up in crypto.

The Board · Every Tradeable Setup, Ranked

#	Ticker	Dir	Entry	Edge (WR · Conf · Comp)
1	PATH	Short	🔒 Members	91% (11/11) · Conf 12 (3F) · COILED 84%
2	WTRG	Short	🔒 Members	100% (28/28) · Conf 5 (2F) · Exp 23%
3	TTEK	Long	🔒 Members	94% (16/16) · Conf 6 (2F) · Exp 22%
4	CRSP	Long	🔒 Members	88% (17/19) · Conf 6 (2F) · COILED 100%
5	QBTS	Long	🔒 Members	75% (8/17) · Conf 8 (3F) · COILED 95%
6	CEVA	Long	🔒 Members	71% (14/15) · Conf 9 (4F) · Building 86%
7	AWK	Long	🔒 Members	84% (25/28) · Conf 7 (2F) · Exp 17%
8	VST	Short	🔒 Members	75% (4/5) · Conf 9 (3F) · Building 100%
9	ASTS	Long	🔒 Members	75% (4/6) · Conf 10 (2F) · Active Conv 76%
10	MAGS	Long	🔒 Members	100% (4/6) · Conf 5 (3F) · Exp 27% — backstop

If you watch one: PATH — Conf 12 (3F) is the highest institutional confidence reading anywhere on today's scan, backing an 11-for-11 clean track. Highest-conviction setup in the book.

Market News & Macro Context

Breadth divergence: McClellan Oscillator still negative at −30.0, but the Summation Index is +13,458 and rising, with 63.5% of stocks above their 50-day and 58.1% above their 200-day. Classic breadth-leads-price setup — the oscillator is lagging, the cumulative measure is already constructive.
Composite capped at +1/9: The bond layer is barely contributing despite a +2 Macro Bonus, and the risk layer — BTC-led — is outright bearish and too extended to trade (Dev Filter failing at −6.11%). Until crypto stabilizes, the Composite has no room to expand.
Transition — Deteriorating: Every single instrument on today's scan carries the same Transition flag. That's a structural caution sitting underneath the individual setups, regardless of how clean any one chart looks.

Legend

Dev — % distance from institutional VWAP anchor. Dev Filter OPEN/PASS = within entry band; FAIL = too extended to enter cleanly. Conf (XF) — institutional confidence confirmed across X timeframes. COILED / Building % — volatility compression; higher = larger expected move on release. COILED = maximum. WR (n/m) — win rate across m completed signals (500-bar window). SD2L — oversold-snapback signal at the lower deviation band. Tiers — High-Vol strict (size −30–40%), Mid (+5pp band), Equity-daily (+10pp band).

For informational and educational purposes only. Not financial advice. All levels and signals are produced by the Institutional Volume Terminal (IVT) framework. Past win rates do not guarantee future results. Manage risk independently. © 2026 Cantillon Research · thecantillonreport.substack.com