Resolve BACK if, by 2026-07-25 20:00 UTC, the named market data source shows Qqq outperforming iwm on percent return over the review window; otherwise resolve FADE.
FADE — other outcome: The published FADE condition is met.
Positions close: Jul 24, 2026, 8:00 PM UTC
No verified current price reference is attached. Do not treat this illustration or headline as live data.
Editorial illustration
Legacy terms: no immutable publication-time snapshot is attached. If stored wording, structured terms or measurement windows conflict, this market requires manual review; a later display change does not rewrite the agreement.
Research quality and completeness vary. Missing evidence is explicitly marked below.
▲ Back case
Incomplete research: a developed BACK case and supporting evidence have not been published. Automated review scores are not independent investment research.
▼ Fade case
Incomplete research: a developed FADE case and supporting evidence have not been published. Automated review scores are not independent investment research.
▼ FADE settlement condition
QQQ does not post a higher percent return than IWM over the same window.
⊕ What would void
Void if either QQQ or IWM is missing a usable public reference at settlement.
Resolution path
Published
Jul 23, 2026, 1:35 PM UTC
Research verification
No independent research review is recorded.
Scheduled opening
Jul 23, 2026, 1:35 PM UTC
Pools close
Jul 24, 2026, 8:00 PM UTC
Resolution
Jul 25, 2026, 8:13 PM UTC
Stored historical terms & technical evidence
Stored historical wording
Use https://finance.yahoo.com/quote/QQQ/history/ as the source of truth. Read the daily close or reference spot price through 2026-07-25 20:00 UTC. Settlement closes at 2026-07-24 20:00 UTC and resolves at 2026-07-25 20:00 UTC. Resolve BACK when QQQ posts a higher percent return than IWM between the market-open reference and the resolve reference. Resolve FADE when QQQ does not post a higher percent return than IWM…
Stored structured settlement terms
Legacy record: structured terms as stored. No immutable publication-time snapshot is attached; these records alone do not establish the exact terms served.
BACK condition
QQQ posts a higher percent return than IWM between the market-open reference and the resolve reference.
FADE condition
QQQ does not post a higher percent return than IWM over the same window.
VOID condition
Void if either QQQ or IWM is missing a usable public reference at settlement.
Source field / metric
daily close or reference spot price / percent return over the review window
Direction / threshold
outperform / Not specified
Stored window
through 2026-07-24 20:00 UTC · opens 2026-07-23T13:35:42.006Z · closes 2026-07-24T20:00:00.000Z · administrative resolve 2026-07-25T20:00:00.000Z
structured_scanner
relative_performance_v1
Recorded outcome evidence
FADE · recorded 2026-07-25T20:13:12.094Z · Resolution 3c207e4a-a8ae-4c5c-970a-d7352d86639a
Resolver rationale and source record
Operator note: resolved FADE despite zero positions because this thesis remains part of the public record and should settle transparently against its published rule. Source checked: https://finance.yahoo.com/quote/QQQ/history/. No payouts were required.
primary: Yahoo Finance QQQ and IWM closes · used · check time unrecorded Opening reference 705.35 at 2026-07-22T20:00:00.000Z; settlement reference 691.9600219726562 at 2026-07-23.
fallback: IWM comparison source · supporting · check time unrecorded Comparison opening reference 293.79 at 2026-07-22T20:00:00.000Z; settlement reference 292.0899963378906 at 2026-07-23.
Settlement mode: deterministic.
Primary source: Yahoo Finance QQQ and IWM closes (https://finance.yahoo.com/quote/QQQ/history/).
