After a 0.25% drop, the model expects a quiet session in the S&P 500 today: a 0.30% move and a 7,621–7,727 range

The ranking is recomputed every session, and this is what moved from one to the next. Next to each move is the factor that produced it: momentum changes every day, value whenever the price does, and quality and growth only when new accounts come in. Why the price moved is not in this data, so it is not told.

The biggest moves in the whole index: PWR climbs 59 places, from #210 to #151 (Momentum 5.7 → 6.4, Value 4.0 → 4.1) and SMCI drops 161 places, from #140 to #301 (Momentum 3.7 → 4.0, Value 6.0 → 6.1, Growth 6.9 → 4.8).

Source: rankings_diarios.json.gz · rank by multi-factor (the average of the four), across the 466 companies with all four computed · scores on the 0-10 scale used on company pages, where 5 is the index average. See all 500 scored →

The section above shows the ranking moving; almost always it is the price moving it. This is the other thing: a quarterly or annual report rewrites value, quality and growth at once, and those are audited accounts, not a quote. Here is the before and after, on the 0-10 scale used on company pages, where 5 is the index average.

Filing date on EDGAR, not the quarter end. Scores come from the rankings calendar: the same ones each company page publishes. No opinion on the results, only the measured effect.

The rare thing on a Form 4 is a purchase. The largest on August 27, 2026: Cascade Investment, L.L.C., Gates William H Iii, 10% Owner at Republic Services, bought 284,600 shares at $219.52 (62.48 million dollars), code P, meaning on the open market and with their own money. see the Form 4 →

2 purchases were filed that day across 2 companies. Over the 90-day window there are 82 purchases worth 730 million dollars across 34 companies, against 876 sales: which is why a purchase gets told and a sale gets tabulated.

The biggest sale of the day tells you nothing. Bruls Annette, of Edwards Lifesciences, sold 0.2 million dollars of stock and still holds 17,984 shares: that is 12.82% of the position.

The only sale filed that day was discretionary. And here is the finding: the largest sale as a share of holding was discretionary.

Source: Form 4 filings with the SEC · alertas_insiders.json, session of 28-Aug-2026. Every name links to its filing on EDGAR: the claim and the proof on the same line.

The 90-day context: 876 sales worth 3,993 million dollars (2 with no declared price, outside that total), of which 406 were discretionary, and of those 131 exceeded 25% of the seller's position. That is where to look.

All three beat the benchmark (+467.6%) on cumulative return over fifteen years, but cumulative return is not the proof: the benchmark carries the bias explained below. The weakest is Value 100, with an alpha of -0.63%: negative, meaning what it earns does not pay for the market risk it takes to earn it. Publishing the figure that comes out worst is the only reason the others deserve any credit.

Source: carteras.json · index based at 100 on 4-Mar-2011. Walk-forward with point-in-time data: on each date scoring uses only prices up to that day and fundamentals already filed with the SEC. 185 rebalances through 17-Aug-2026.

Over the past month the value portfolio gained +4.27% while momentum gained +5.95%. Across that six-month window the benchmark rose 9.7%, so this is not the whole market moving: it is a rotation inside one.

The extreme of the series is July 9, 2020, six years ago, at +27.9 points. And what happened after each extreme? Counted, not assumed: of the 4 extremes in momentum's favour with enough data after them, in 4 the lead had flipped sign six months later; of the 5 extremes in value's favour, in 3. That is a count over 9 episodes, not a rule.

Computed from carteras.json · 185 monthly rebalances between 4-Apr-2011 and 17-Aug-2026 (fifteen years) · 179 overlapping windows of 6 rebalances · recent stretch: the last 24 rebalances, the shortest run that still holds 4 non-overlapping windows.

With the rank and the score they carry before reporting. Section 03 will publish the after once the document reaches EDGAR, which is zero to three days later: the press release does not move our scores, the filed accounts do.

Source: calendario_resultados.json · Nasdaq public earnings calendar. Earnings date announced by each company, not the SEC filing date, which is not published in advance. Scores from the 28-Aug-2026 ranking.

• What insiders did yesterday. Form 4 can be filed up to two business days after the trade, so the freshest data is always the day before last.
• Whether momentum keeps winning. Fifteen years and 185 rebalances are not enough to claim a factor mean-reverts. We can describe what happened, not what comes.
• What any company is worth. This report computes no price targets. No Monte Carlo, no DCF, no fair value. When you see one elsewhere, ask which cost of capital discounted it and who chose that number.
• Whether the S&P rises tomorrow. We measured it with the same model (139 variables) and the same walk-forward protocol, over 1,067 out-of-sample sessions: the model calls direction right 53.98% of the time and saying "up" every single day is right 53.89%. The gap is noise: there is no signal, so we don't sell one. Both figures are recomputed every edition.