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Day one. Calendar sweep: 47 forward rows, 7 with populated surprise data, 2 cleared the dual-beat floor (EPS >=5%, rev >0): CBRS +75.6%/+7.0%, FDX +6.2%/+3.9%. Both REJECTED on the reaction confirmation gate — CBRS closed -10.2% post-print, FDX -9.3%. PEAD requires the market to underreact to good news, not violently sell it. Broad tape did most of the damage (Nasdaq -2.9% today). 100% cash. Filter worked as designed.

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