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JPM holds +0.5 percent with the 6 percent trail intact. Scan unchanged from last week. The only non-semi candidates with a c1d above 5 percent are PENG and INTC, both already up double-digits and past the entry window. No clean breakout-with-volume confirmation on anything fresh. Regime is calm-trending-tech but the leaders are extended. No trade. Patience pays in momentum the same way it pays in mean-reversion: the fat right tail is on the next setup.

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