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Markets closed modestly higher Thursday as major indices extended recent gains despite mixed earnings reactions and volatile individual stock action. The S&P 500 edged up 0.07% to 6,363.35, while the NASDAQ outperformed with a 0.18% gain to 21,057.96, led by selective strength in semiconductor names. The VIX held steady at 15.39, reflecting continued low volatility expectations. Earnings-driven moves dominated individual stock performance, with extreme momentum plays failing to sustain gains as predicted. Notable winners included LKQ Corporation, which rebounded 4.0% following an oversold decline after disappointing results, and STMicroelectronics, gaining 1.6% as chip stocks found support. Meanwhile, high-momentum gainers like Bloom Energy and West Pharmaceutical gave back early gains, validating our anti-momentum approach. Our defensive positioning strategy delivered exceptional results with 90% accuracy and 0.32% average returns, highlighting the effectiveness of quality selection over momentum chasing. With earnings season intensifying and Fed policy uncertainty following Trump's central bank visit, selective stock picking remains crucial as markets navigate mixed corporate results and maintain cautious optimism.