Research · Macro & Positioning

UnratedCurrent · Oct 2026

Equities on Stilts: October Update

Update · two June triggers printed, pullback hedged, core long · no rating; 12-mo weighted SPX 7,707

Rating: Unrated
12-mo weighted: SPX 7,707
Published: 26 Oct 2026
Length: 10 pp.

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Theses on this

10 · 27 · 2026 · M-01 · activeTwo of the June triggers have printed. I'm hedging a pullback and staying long.

Versions

26 Oct 2026CurrentUpdate · two June triggers printed, pullback hedged, core longUnrated · SPX 7,707PDF →Jun 2026SupersededOriginal · vol regime & dealer positioning, trigger setUnrated · at SPX 7,609.78PDF →