diff --git a/docs/research/fip-breadth-ic.md b/docs/research/fip-breadth-ic.md
index d02e879..cef816d 100644
--- a/docs/research/fip-breadth-ic.md
+++ b/docs/research/fip-breadth-ic.md
@@ -1,6 +1,6 @@
 # Broad-universe fip_id IC research (Phase B)
 
-Generated: 2026-07-18T19:48:28.127710
+Generated: 2026-07-18T21:14:40.170961
 
 ## Scope
 
@@ -22,33 +22,25 @@ Generated: 2026-07-18T19:48:28.127710
 
 ## Liquid-breadth signal_eval (fip_id)
 
-**Not run yet in this environment** (no Alpaca credentials to build
-`backtest_snapshots/research.sqlite`). Local machine with keys:
-
-```bash
-python scripts/extend_snapshot_universe.py --force-copy
-python scripts/run_fip_breadth_research.py --skip-fingerprint --allow-spawn --workers 6
-```
-
-(`--skip-fingerprint` only after a green fingerprint on this machine.)
-
 | metric | value |
 |---|---|
-| mean_ic | _pending_ |
-| ic_t_stat | _pending_ |
-| weeks | _pending_ |
-| avg_cross_section | _pending_ |
-| reliable | _pending_ |
+| mean_ic | 0.0575 |
+| ic_t_stat | 5.12 |
+| ic_positive_pct | 88.6 |
+| weeks | 35 |
+| avg_cross_section | 1471.2 |
+| reliable | True |
+| mean_quintile_spread | 0.0199 |
 
 ## Verdict (iron rule)
 
-- **Fingerprint:** green (IC −0.045 / t −2.91 / reliable / 35 weeks).  
-- **Breadth iron rule:** **pending** until research.sqlite run completes.  
-- Green breadth would authorize a **follow-up proposal** only (two-tier universe /
-  gate revalidation) — **not** production wire-in.
+- **Green: False**
+- iron rule not met on liquid-breadth cross-section
+- Checks: `{"mean_ic": 0.0575, "abs_mean_ic_ge_0_03": true, "sign_negative": false, "ic_t_stat": 5.12, "reliable": true, "weeks": 35, "avg_cross_section": 1471.2}`
+
+A green verdict authorizes a **follow-up proposal** only (two-tier universe / gate revalidation) — **not** production wire-in.
 
 ## Artifacts
 
-- Fingerprint report: `reports/fip-breadth-20260718-194828-fingerprint.json`
-  (and summary `reports/fip-breadth-20260718-194828.json`)
-- Breadth report: _pending_
+- Fingerprint report: `reports/fip-breadth-20260718-211440-fingerprint.json`
+- Breadth report: `reports/fip-breadth-20260718-211440-breadth.json`
diff --git a/reports/fip-breadth-20260718-211440-breadth.json b/reports/fip-breadth-20260718-211440-breadth.json
new file mode 100644
index 0000000..c586f74
--- /dev/null
+++ b/reports/fip-breadth-20260718-211440-breadth.json
@@ -0,0 +1,596 @@
+{
+  "generated_at": "2026-07-18T19:23:17.726528+00:00",
+  "tickers": 4650,
+  "rank_only_tickers": 4144,
+  "candidates": 202769,
+  "qualified": 1086,
+  "params": {
+    "step_days": 5,
+    "step_sessions": 5,
+    "entry_cadence": "weekly",
+    "signal_eval_cadence": "weekly",
+    "horizon_days": 30,
+    "min_lookback": 60,
+    "cost_per_side_pct": 0.1,
+    "target_model": "production_gtl",
+    "target_model_label": "Live GTL (production)",
+    "is_production_target_model": true,
+    "production_reentry_policy": "gate_reset",
+    "liquid_breadth_top_n": 1500,
+    "liquid_min_price": 5.0,
+    "signal_eval_only": true
+  },
+  "activation": {
+    "min_momentum_percentile": 80.0,
+    "min_rr": 2.0,
+    "min_confidence": 0.0,
+    "require_high_conviction": false,
+    "exclude_conflicts": false,
+    "exclude_neutral": true
+  },
+  "overall_qualified": {
+    "total": 1086,
+    "wins": 379,
+    "losses": 591,
+    "expired": 116,
+    "hit_rate": 39.1,
+    "avg_r": 0.255,
+    "total_r": 276.76,
+    "net_avg_r": 0.209,
+    "net_total_r": 226.56,
+    "best_r": 8.85,
+    "worst_r": -3.38,
+    "avg_hold_days": 12.0,
+    "net_r_per_day": 0.0174,
+    "median_net_r": -1.031,
+    "profit_factor": 1.34,
+    "net_avg_r_ex_top5": 0.049
+  },
+  "overall_all": {
+    "total": 202769,
+    "wins": 82221,
+    "losses": 113812,
+    "expired": 6736,
+    "hit_rate": 41.9,
+    "avg_r": -0.04,
+    "total_r": -8188.17,
+    "net_avg_r": -0.095,
+    "net_total_r": -19186.68,
+    "best_r": 9.24,
+    "worst_r": -16.42,
+    "avg_hold_days": 8.2,
+    "net_r_per_day": -0.0115,
+    "median_net_r": -1.035,
+    "profit_factor": 0.85,
+    "net_avg_r_ex_top5": -0.22
+  },
+  "by_direction": {
+    "long": {
+      "total": 1086,
+      "wins": 379,
+      "losses": 591,
+      "expired": 116,
+      "hit_rate": 39.1,
+      "avg_r": 0.255,
+      "total_r": 276.76,
+      "net_avg_r": 0.209,
+      "net_total_r": 226.56,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 12.0,
+      "net_r_per_day": 0.0174,
+      "median_net_r": -1.031,
+      "profit_factor": 1.34,
+      "net_avg_r_ex_top5": 0.049
+    },
+    "short": {
+      "total": 0,
+      "wins": 0,
+      "losses": 0,
+      "expired": 0,
+      "hit_rate": null,
+      "avg_r": null,
+      "total_r": null,
+      "net_avg_r": null,
+      "net_total_r": null,
+      "best_r": null,
+      "worst_r": null,
+      "avg_hold_days": null,
+      "net_r_per_day": null,
+      "median_net_r": null,
+      "profit_factor": null,
+      "net_avg_r_ex_top5": null
+    }
+  },
+  "min_momentum_percentile": 80.0,
+  "sweep": [
+    {
+      "min_momentum_percentile": 90.0,
+      "total": 497,
+      "wins": 177,
+      "losses": 269,
+      "expired": 51,
+      "hit_rate": 39.7,
+      "avg_r": 0.276,
+      "total_r": 137.05,
+      "net_avg_r": 0.235,
+      "net_total_r": 116.55,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 11.8,
+      "net_r_per_day": 0.0199,
+      "median_net_r": -1.026,
+      "profit_factor": 1.39,
+      "net_avg_r_ex_top5": 0.071
+    },
+    {
+      "min_momentum_percentile": 80.0,
+      "total": 1086,
+      "wins": 379,
+      "losses": 591,
+      "expired": 116,
+      "hit_rate": 39.1,
+      "avg_r": 0.255,
+      "total_r": 276.76,
+      "net_avg_r": 0.209,
+      "net_total_r": 226.56,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 12.0,
+      "net_r_per_day": 0.0174,
+      "median_net_r": -1.031,
+      "profit_factor": 1.34,
+      "net_avg_r_ex_top5": 0.049
+    },
+    {
+      "min_momentum_percentile": 70.0,
+      "total": 1841,
+      "wins": 597,
+      "losses": 1062,
+      "expired": 182,
+      "hit_rate": 36.0,
+      "avg_r": 0.152,
+      "total_r": 280.26,
+      "net_avg_r": 0.104,
+      "net_total_r": 190.75,
+      "best_r": 8.85,
+      "worst_r": -4.21,
+      "avg_hold_days": 11.8,
+      "net_r_per_day": 0.0088,
+      "median_net_r": -1.037,
+      "profit_factor": 1.16,
+      "net_avg_r_ex_top5": -0.055
+    },
+    {
+      "min_momentum_percentile": 60.0,
+      "total": 2772,
+      "wins": 873,
+      "losses": 1611,
+      "expired": 288,
+      "hit_rate": 35.1,
+      "avg_r": 0.126,
+      "total_r": 348.07,
+      "net_avg_r": 0.075,
+      "net_total_r": 209.25,
+      "best_r": 8.85,
+      "worst_r": -4.21,
+      "avg_hold_days": 12.0,
+      "net_r_per_day": 0.0063,
+      "median_net_r": -1.04,
+      "profit_factor": 1.12,
+      "net_avg_r_ex_top5": -0.077
+    },
+    {
+      "min_momentum_percentile": 50.0,
+      "total": 3901,
+      "wins": 1182,
+      "losses": 2295,
+      "expired": 424,
+      "hit_rate": 34.0,
+      "avg_r": 0.089,
+      "total_r": 345.37,
+      "net_avg_r": 0.038,
+      "net_total_r": 146.96,
+      "best_r": 8.85,
+      "worst_r": -4.86,
+      "avg_hold_days": 12.1,
+      "net_r_per_day": 0.0031,
+      "median_net_r": -1.042,
+      "profit_factor": 1.06,
+      "net_avg_r_ex_top5": -0.114
+    },
+    {
+      "min_momentum_percentile": 0.0,
+      "total": 14589,
+      "wins": 3719,
+      "losses": 9272,
+      "expired": 1598,
+      "hit_rate": 28.6,
+      "avg_r": -0.065,
+      "total_r": -953.08,
+      "net_avg_r": -0.115,
+      "net_total_r": -1677.9,
+      "best_r": 9.24,
+      "worst_r": -15.94,
+      "avg_hold_days": 12.1,
+      "net_r_per_day": -0.0095,
+      "median_net_r": -1.043,
+      "profit_factor": 0.84,
+      "net_avg_r_ex_top5": -0.275
+    }
+  ],
+  "gate_ablation": [
+    {
+      "variant": "all_floors",
+      "total": 1086,
+      "wins": 379,
+      "losses": 591,
+      "expired": 116,
+      "hit_rate": 39.1,
+      "avg_r": 0.255,
+      "total_r": 276.76,
+      "net_avg_r": 0.209,
+      "net_total_r": 226.56,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 12.0,
+      "net_r_per_day": 0.0174,
+      "median_net_r": -1.031,
+      "profit_factor": 1.34,
+      "net_avg_r_ex_top5": 0.049,
+      "hold_days": 30,
+      "hold_avg_r": 0.631,
+      "hold_net_avg_r": 0.585,
+      "hold_total_r": 684.97
+    },
+    {
+      "variant": "no_confidence_floor",
+      "total": 1093,
+      "wins": 380,
+      "losses": 596,
+      "expired": 117,
+      "hit_rate": 38.9,
+      "avg_r": 0.25,
+      "total_r": 273.55,
+      "net_avg_r": 0.204,
+      "net_total_r": 222.99,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 11.9,
+      "net_r_per_day": 0.0171,
+      "median_net_r": -1.031,
+      "profit_factor": 1.33,
+      "net_avg_r_ex_top5": 0.045,
+      "hold_days": 30,
+      "hold_avg_r": 0.626,
+      "hold_net_avg_r": 0.58,
+      "hold_total_r": 684.08
+    },
+    {
+      "variant": "no_rr_floor",
+      "total": 6849,
+      "wins": 3235,
+      "losses": 3409,
+      "expired": 205,
+      "hit_rate": 48.7,
+      "avg_r": 0.112,
+      "total_r": 770.17,
+      "net_avg_r": 0.061,
+      "net_total_r": 418.96,
+      "best_r": 8.85,
+      "worst_r": -5.16,
+      "avg_hold_days": 7.9,
+      "net_r_per_day": 0.0078,
+      "median_net_r": -0.061,
+      "profit_factor": 1.11,
+      "net_avg_r_ex_top5": -0.061,
+      "hold_days": 30,
+      "hold_avg_r": 0.354,
+      "hold_net_avg_r": 0.303,
+      "hold_total_r": 2425.86
+    },
+    {
+      "variant": "no_neutral_exclusion",
+      "total": 2313,
+      "wins": 770,
+      "losses": 1279,
+      "expired": 264,
+      "hit_rate": 37.6,
+      "avg_r": 0.2,
+      "total_r": 462.35,
+      "net_avg_r": 0.154,
+      "net_total_r": 355.89,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 12.6,
+      "net_r_per_day": 0.0122,
+      "median_net_r": -1.031,
+      "profit_factor": 1.25,
+      "net_avg_r_ex_top5": 0.004,
+      "hold_days": 30,
+      "hold_avg_r": 0.583,
+      "hold_net_avg_r": 0.537,
+      "hold_total_r": 1348.89
+    },
+    {
+      "variant": "momentum_only",
+      "total": 14696,
+      "wins": 6827,
+      "losses": 7359,
+      "expired": 510,
+      "hit_rate": 48.1,
+      "avg_r": 0.114,
+      "total_r": 1669.64,
+      "net_avg_r": 0.064,
+      "net_total_r": 936.93,
+      "best_r": 8.85,
+      "worst_r": -5.71,
+      "avg_hold_days": 8.4,
+      "net_r_per_day": 0.0076,
+      "median_net_r": -1.013,
+      "profit_factor": 1.11,
+      "net_avg_r_ex_top5": -0.055,
+      "hold_days": 30,
+      "hold_avg_r": 0.395,
+      "hold_net_avg_r": 0.345,
+      "hold_total_r": 5798.82
+    }
+  ],
+  "gate_ablation_note": "Each row re-qualifies the same candidates at the current momentum cutoff (80) with one floor removed (long-only while the momentum gate is active). If dropping a floor doesn't hurt net expectancy, that floor isn't pulling its weight. The Hold columns grade the same variants under the hold-to-horizon time exit instead of the S/R target \u2014 the view that matters if the exit policy moves to a fixed hold.",
+  "time_exit_sweep": [
+    {
+      "hold_days": 5,
+      "total": 1086,
+      "wins": 603,
+      "win_rate": 55.5,
+      "avg_r": 0.175,
+      "total_r": 190.16,
+      "net_avg_r": 0.129,
+      "net_total_r": 139.97,
+      "best_r": 5.09,
+      "worst_r": -2.51,
+      "avg_hold_days": 4.5,
+      "net_r_per_day": 0.0285,
+      "median_net_r": 0.115,
+      "profit_factor": 1.36,
+      "net_avg_r_ex_top5": -0.002
+    },
+    {
+      "hold_days": 10,
+      "total": 1086,
+      "wins": 559,
+      "win_rate": 51.5,
+      "avg_r": 0.357,
+      "total_r": 387.9,
+      "net_avg_r": 0.311,
+      "net_total_r": 337.7,
+      "best_r": 6.73,
+      "worst_r": -2.51,
+      "avg_hold_days": 7.9,
+      "net_r_per_day": 0.0395,
+      "median_net_r": 0.031,
+      "profit_factor": 1.67,
+      "net_avg_r_ex_top5": 0.112
+    },
+    {
+      "hold_days": 21,
+      "total": 1086,
+      "wins": 487,
+      "win_rate": 44.8,
+      "avg_r": 0.525,
+      "total_r": 570.33,
+      "net_avg_r": 0.479,
+      "net_total_r": 520.14,
+      "best_r": 9.86,
+      "worst_r": -3.38,
+      "avg_hold_days": 13.7,
+      "net_r_per_day": 0.0349,
+      "median_net_r": -1.027,
+      "profit_factor": 1.81,
+      "net_avg_r_ex_top5": 0.191
+    },
+    {
+      "hold_days": 30,
+      "total": 1086,
+      "wins": 434,
+      "win_rate": 40.0,
+      "avg_r": 0.631,
+      "total_r": 684.97,
+      "net_avg_r": 0.585,
+      "net_total_r": 634.78,
+      "best_r": 12.87,
+      "worst_r": -3.38,
+      "avg_hold_days": 17.8,
+      "net_r_per_day": 0.0329,
+      "median_net_r": -1.033,
+      "profit_factor": 1.9,
+      "net_avg_r_ex_top5": 0.212
+    }
+  ],
+  "portfolio_sim": {
+    "params": {
+      "starting_capital": 10000.0,
+      "max_positions": 10,
+      "risk_per_trade_pct": 1.0,
+      "notional_cap_pct": 20.0,
+      "cost_per_side_pct": 0.1,
+      "hold_days": 30
+    },
+    "policies": [],
+    "note": "One capital-constrained book over the same qualified setups the tables above grade per-setup: at most 10 concurrent positions (one per ticker), best momentum first, fixed-fractional risk sizing with a no-leverage cap, entries at the detection close, stops filled at the worse of stop or open. 'target' races the S/R target against the stop (timeout at the horizon); 'hold' keeps the initial stop and exits at the horizon close. SPY return is price-only over the same window. In-sample; no dividends."
+  },
+  "strategy_variants": {
+    "variants": [],
+    "note": "Research-only hold-to-horizon portfolio variants. Production now uses residual 12-1 momentum at cutoff 80; the remaining rows compare the legacy raw rank, raw cutoff 90, one max-15 capacity check, and volatility overlays."
+  },
+  "exit_policy_variants": {
+    "variants": [],
+    "note": "Research-only exit policies over the residual/high-vol 80/20 entry candidate. Every row uses the same entry qualification/ranking and changes only the exit discipline."
+  },
+  "portfolio_monitor": null,
+  "production_cadence_comparison": null,
+  "holdout": null,
+  "min_rr_sweep": null,
+  "target_model_diagnostics": {
+    "target_model": "production_gtl",
+    "target_model_label": "Live GTL (production)",
+    "candidate_count": 202769,
+    "primary_source_counts": {
+      "pivot_point": 196294,
+      "range_grid": 180039
+    },
+    "primary_round_only": 0,
+    "primary_strength_100": 138599,
+    "avg_primary_strength": 80.109,
+    "avg_primary_distance_atr": 2.293,
+    "avg_primary_rejection_count": 41.907,
+    "avg_raw_level_count": 53.204,
+    "avg_gate_level_count": 53.204
+  },
+  "signal_eval": [
+    {
+      "signal": "high_52w",
+      "weeks": 35,
+      "avg_cross_section": 1471.2,
+      "mean_ic": 0.1283,
+      "ic_t_stat": 4.28,
+      "ic_positive_pct": 85.7,
+      "mean_quintile_spread": -0.1009,
+      "reliable": true,
+      "liquid_breadth_top_n": 1500,
+      "liquid_min_price": 5.0
+    },
+    {
+      "signal": "mom_12_1",
+      "weeks": 35,
+      "avg_cross_section": 1471.2,
+      "mean_ic": 0.0997,
+      "ic_t_stat": 4.56,
+      "ic_positive_pct": 88.6,
+      "mean_quintile_spread": -0.1001,
+      "reliable": true,
+      "liquid_breadth_top_n": 1500,
+      "liquid_min_price": 5.0
+    },
+    {
+      "signal": "mom_6_1",
+      "weeks": 40,
+      "avg_cross_section": 1474.8,
+      "mean_ic": 0.0681,
+      "ic_t_stat": 3.45,
+      "ic_positive_pct": 77.5,
+      "mean_quintile_spread": -0.0322,
+      "reliable": true,
+      "liquid_breadth_top_n": 1500,
+      "liquid_min_price": 5.0
+    },
+    {
+      "signal": "fip_id",
+      "weeks": 35,
+      "avg_cross_section": 1471.2,
+      "mean_ic": 0.0575,
+      "ic_t_stat": 5.12,
+      "ic_positive_pct": 88.6,
+      "mean_quintile_spread": 0.0199,
+      "reliable": true,
+      "liquid_breadth_top_n": 1500,
+      "liquid_min_price": 5.0
+    },
+    {
+      "signal": "trend_200",
+      "weeks": 37,
+      "avg_cross_section": 1472.8,
+      "mean_ic": 0.0538,
+      "ic_t_stat": 2.33,
+      "ic_positive_pct": 75.7,
+      "mean_quintile_spread": -0.0675,
+      "reliable": true,
+      "liquid_breadth_top_n": 1500,
+      "liquid_min_price": 5.0
+    },
+    {
+      "signal": "mom_3_1",
+      "weeks": 42,
+      "avg_cross_section": 1476.0,
+      "mean_ic": 0.0523,
+      "ic_t_stat": 3.27,
+      "ic_positive_pct": 73.8,
+      "mean_quintile_spread": -0.0194,
+      "reliable": true,
+      "liquid_breadth_top_n": 1500,
+      "liquid_min_price": 5.0
+    },
+    {
+      "signal": "mom_12_1_resid",
+      "weeks": 35,
+      "avg_cross_section": 1471.2,
+      "mean_ic": 0.0388,
+      "ic_t_stat": 2.28,
+      "ic_positive_pct": 74.3,
+      "mean_quintile_spread": -0.0542,
+      "reliable": true,
+      "liquid_breadth_top_n": 1500,
+      "liquid_min_price": 5.0
+    },
+    {
+      "signal": "reversal_1m",
+      "weeks": 43,
+      "avg_cross_section": 1476.6,
+      "mean_ic": 0.0155,
+      "ic_t_stat": 0.85,
+      "ic_positive_pct": 48.8,
+      "mean_quintile_spread": -0.0862,
+      "reliable": true,
+      "liquid_breadth_top_n": 1500,
+      "liquid_min_price": 5.0
+    },
+    {
+      "signal": "vol_6m",
+      "weeks": 40,
+      "avg_cross_section": 1474.8,
+      "mean_ic": -0.1584,
+      "ic_t_stat": -6.05,
+      "ic_positive_pct": 12.5,
+      "mean_quintile_spread": 0.0164,
+      "reliable": true,
+      "liquid_breadth_top_n": 1500,
+      "liquid_min_price": 5.0
+    }
+  ],
+  "signal_eval_note": "Cross-sectional rank-IC of price-only signals vs the forward 30-day return (min 20 names/window). |IC| \u2273 0.03 with a consistent sign is a real (if small) edge; near 0 means ranking on it sorts nothing. Momentum factors and high_52w are expected positive; reversal_1m and vol_6m expected negative (mean-reversion / low-vol anomaly). IC is measured on non-overlapping windows; signals with fewer than 12 independent windows are flagged unreliable (too few regimes \u2014 deepen history with the Data Backfill job).",
+  "note": "Sentiment & fundamentals held neutral (no point-in-time history). Stops fill at the worse of the stop or the bar's open (gaps through the stop are modeled, so a loss can exceed \u22121R); targets never fill better than their level. ~6 months \u2248 one market regime \u2014 treat as directional, not gospel.",
+  "recommendation": {
+    "headline": "Trade the qualified list long-only; hold 30 trading days with the initial ATR stop.",
+    "items": [
+      {
+        "topic": "exit",
+        "text": "Legacy exit diagnostic: hold 30 trading days with the initial stop (+0.58R net/trade vs +0.21R for the S/R target exit)."
+      },
+      {
+        "topic": "gate",
+        "text": "Gate: the confidence floor adds nothing \u2014 dropping it costs +0.01R/trade and adds 7 trades."
+      },
+      {
+        "topic": "gate",
+        "text": "Gate: keep the R:R floor (worth +0.28R/trade under the hold exit)."
+      },
+      {
+        "topic": "gate",
+        "text": "Gate: keep the NEUTRAL exclusion (worth +0.05R/trade under the hold exit)."
+      },
+      {
+        "topic": "cutoff",
+        "text": "Residual-momentum cutoff: 90 has the best per-trade net (+0.23R over 497 setups)."
+      },
+      {
+        "topic": "robustness",
+        "text": "Robustness: expectancy survives removing the top 5% of winners (+0.21R net/trade under the recommended 30d hold) \u2014 the edge is not a handful of outliers."
+      }
+    ],
+    "note": "Derived from this report's numbers on every run \u2014 the advice flips if the data does."
+  },
+  "research_recommendation": {
+    "items": [],
+    "note": "Strategy variants unavailable; re-run the backtest after benchmark data is present."
+  }
+}
\ No newline at end of file
diff --git a/reports/fip-breadth-20260718-211440-fingerprint.json b/reports/fip-breadth-20260718-211440-fingerprint.json
new file mode 100644
index 0000000..0fd69cf
--- /dev/null
+++ b/reports/fip-breadth-20260718-211440-fingerprint.json
@@ -0,0 +1,578 @@
+{
+  "generated_at": "2026-07-18T19:16:37.954856+00:00",
+  "tickers": 506,
+  "rank_only_tickers": 0,
+  "candidates": 202765,
+  "qualified": 1086,
+  "params": {
+    "step_days": 5,
+    "step_sessions": 5,
+    "entry_cadence": "weekly",
+    "signal_eval_cadence": "weekly",
+    "horizon_days": 30,
+    "min_lookback": 60,
+    "cost_per_side_pct": 0.1,
+    "target_model": "production_gtl",
+    "target_model_label": "Live GTL (production)",
+    "is_production_target_model": true,
+    "production_reentry_policy": "gate_reset",
+    "liquid_breadth_top_n": null,
+    "liquid_min_price": null,
+    "signal_eval_only": true
+  },
+  "activation": {
+    "min_momentum_percentile": 80.0,
+    "min_rr": 2.0,
+    "min_confidence": 0.0,
+    "require_high_conviction": false,
+    "exclude_conflicts": false,
+    "exclude_neutral": true
+  },
+  "overall_qualified": {
+    "total": 1086,
+    "wins": 379,
+    "losses": 591,
+    "expired": 116,
+    "hit_rate": 39.1,
+    "avg_r": 0.255,
+    "total_r": 276.76,
+    "net_avg_r": 0.209,
+    "net_total_r": 226.56,
+    "best_r": 8.85,
+    "worst_r": -3.38,
+    "avg_hold_days": 12.0,
+    "net_r_per_day": 0.0174,
+    "median_net_r": -1.031,
+    "profit_factor": 1.34,
+    "net_avg_r_ex_top5": 0.049
+  },
+  "overall_all": {
+    "total": 202765,
+    "wins": 82220,
+    "losses": 113809,
+    "expired": 6736,
+    "hit_rate": 41.9,
+    "avg_r": -0.04,
+    "total_r": -8186.18,
+    "net_avg_r": -0.095,
+    "net_total_r": -19184.55,
+    "best_r": 9.24,
+    "worst_r": -16.42,
+    "avg_hold_days": 8.2,
+    "net_r_per_day": -0.0115,
+    "median_net_r": -1.035,
+    "profit_factor": 0.85,
+    "net_avg_r_ex_top5": -0.22
+  },
+  "by_direction": {
+    "long": {
+      "total": 1086,
+      "wins": 379,
+      "losses": 591,
+      "expired": 116,
+      "hit_rate": 39.1,
+      "avg_r": 0.255,
+      "total_r": 276.76,
+      "net_avg_r": 0.209,
+      "net_total_r": 226.56,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 12.0,
+      "net_r_per_day": 0.0174,
+      "median_net_r": -1.031,
+      "profit_factor": 1.34,
+      "net_avg_r_ex_top5": 0.049
+    },
+    "short": {
+      "total": 0,
+      "wins": 0,
+      "losses": 0,
+      "expired": 0,
+      "hit_rate": null,
+      "avg_r": null,
+      "total_r": null,
+      "net_avg_r": null,
+      "net_total_r": null,
+      "best_r": null,
+      "worst_r": null,
+      "avg_hold_days": null,
+      "net_r_per_day": null,
+      "median_net_r": null,
+      "profit_factor": null,
+      "net_avg_r_ex_top5": null
+    }
+  },
+  "min_momentum_percentile": 80.0,
+  "sweep": [
+    {
+      "min_momentum_percentile": 90.0,
+      "total": 497,
+      "wins": 177,
+      "losses": 269,
+      "expired": 51,
+      "hit_rate": 39.7,
+      "avg_r": 0.276,
+      "total_r": 137.05,
+      "net_avg_r": 0.235,
+      "net_total_r": 116.55,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 11.8,
+      "net_r_per_day": 0.0199,
+      "median_net_r": -1.026,
+      "profit_factor": 1.39,
+      "net_avg_r_ex_top5": 0.071
+    },
+    {
+      "min_momentum_percentile": 80.0,
+      "total": 1086,
+      "wins": 379,
+      "losses": 591,
+      "expired": 116,
+      "hit_rate": 39.1,
+      "avg_r": 0.255,
+      "total_r": 276.76,
+      "net_avg_r": 0.209,
+      "net_total_r": 226.56,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 12.0,
+      "net_r_per_day": 0.0174,
+      "median_net_r": -1.031,
+      "profit_factor": 1.34,
+      "net_avg_r_ex_top5": 0.049
+    },
+    {
+      "min_momentum_percentile": 70.0,
+      "total": 1841,
+      "wins": 597,
+      "losses": 1062,
+      "expired": 182,
+      "hit_rate": 36.0,
+      "avg_r": 0.152,
+      "total_r": 280.26,
+      "net_avg_r": 0.104,
+      "net_total_r": 190.75,
+      "best_r": 8.85,
+      "worst_r": -4.21,
+      "avg_hold_days": 11.8,
+      "net_r_per_day": 0.0088,
+      "median_net_r": -1.037,
+      "profit_factor": 1.16,
+      "net_avg_r_ex_top5": -0.055
+    },
+    {
+      "min_momentum_percentile": 60.0,
+      "total": 2772,
+      "wins": 873,
+      "losses": 1611,
+      "expired": 288,
+      "hit_rate": 35.1,
+      "avg_r": 0.126,
+      "total_r": 348.07,
+      "net_avg_r": 0.075,
+      "net_total_r": 209.25,
+      "best_r": 8.85,
+      "worst_r": -4.21,
+      "avg_hold_days": 12.0,
+      "net_r_per_day": 0.0063,
+      "median_net_r": -1.04,
+      "profit_factor": 1.12,
+      "net_avg_r_ex_top5": -0.077
+    },
+    {
+      "min_momentum_percentile": 50.0,
+      "total": 3901,
+      "wins": 1182,
+      "losses": 2295,
+      "expired": 424,
+      "hit_rate": 34.0,
+      "avg_r": 0.089,
+      "total_r": 345.37,
+      "net_avg_r": 0.038,
+      "net_total_r": 146.96,
+      "best_r": 8.85,
+      "worst_r": -4.86,
+      "avg_hold_days": 12.1,
+      "net_r_per_day": 0.0031,
+      "median_net_r": -1.042,
+      "profit_factor": 1.06,
+      "net_avg_r_ex_top5": -0.114
+    },
+    {
+      "min_momentum_percentile": 0.0,
+      "total": 14588,
+      "wins": 3719,
+      "losses": 9271,
+      "expired": 1598,
+      "hit_rate": 28.6,
+      "avg_r": -0.065,
+      "total_r": -952.08,
+      "net_avg_r": -0.115,
+      "net_total_r": -1676.86,
+      "best_r": 9.24,
+      "worst_r": -15.94,
+      "avg_hold_days": 12.1,
+      "net_r_per_day": -0.0095,
+      "median_net_r": -1.043,
+      "profit_factor": 0.84,
+      "net_avg_r_ex_top5": -0.275
+    }
+  ],
+  "gate_ablation": [
+    {
+      "variant": "all_floors",
+      "total": 1086,
+      "wins": 379,
+      "losses": 591,
+      "expired": 116,
+      "hit_rate": 39.1,
+      "avg_r": 0.255,
+      "total_r": 276.76,
+      "net_avg_r": 0.209,
+      "net_total_r": 226.56,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 12.0,
+      "net_r_per_day": 0.0174,
+      "median_net_r": -1.031,
+      "profit_factor": 1.34,
+      "net_avg_r_ex_top5": 0.049,
+      "hold_days": 30,
+      "hold_avg_r": 0.631,
+      "hold_net_avg_r": 0.585,
+      "hold_total_r": 684.97
+    },
+    {
+      "variant": "no_confidence_floor",
+      "total": 1093,
+      "wins": 380,
+      "losses": 596,
+      "expired": 117,
+      "hit_rate": 38.9,
+      "avg_r": 0.25,
+      "total_r": 273.55,
+      "net_avg_r": 0.204,
+      "net_total_r": 222.99,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 11.9,
+      "net_r_per_day": 0.0171,
+      "median_net_r": -1.031,
+      "profit_factor": 1.33,
+      "net_avg_r_ex_top5": 0.045,
+      "hold_days": 30,
+      "hold_avg_r": 0.626,
+      "hold_net_avg_r": 0.58,
+      "hold_total_r": 684.08
+    },
+    {
+      "variant": "no_rr_floor",
+      "total": 6849,
+      "wins": 3235,
+      "losses": 3409,
+      "expired": 205,
+      "hit_rate": 48.7,
+      "avg_r": 0.112,
+      "total_r": 770.17,
+      "net_avg_r": 0.061,
+      "net_total_r": 418.96,
+      "best_r": 8.85,
+      "worst_r": -5.16,
+      "avg_hold_days": 7.9,
+      "net_r_per_day": 0.0078,
+      "median_net_r": -0.061,
+      "profit_factor": 1.11,
+      "net_avg_r_ex_top5": -0.061,
+      "hold_days": 30,
+      "hold_avg_r": 0.354,
+      "hold_net_avg_r": 0.303,
+      "hold_total_r": 2425.86
+    },
+    {
+      "variant": "no_neutral_exclusion",
+      "total": 2313,
+      "wins": 770,
+      "losses": 1279,
+      "expired": 264,
+      "hit_rate": 37.6,
+      "avg_r": 0.2,
+      "total_r": 462.35,
+      "net_avg_r": 0.154,
+      "net_total_r": 355.89,
+      "best_r": 8.85,
+      "worst_r": -3.38,
+      "avg_hold_days": 12.6,
+      "net_r_per_day": 0.0122,
+      "median_net_r": -1.031,
+      "profit_factor": 1.25,
+      "net_avg_r_ex_top5": 0.004,
+      "hold_days": 30,
+      "hold_avg_r": 0.583,
+      "hold_net_avg_r": 0.537,
+      "hold_total_r": 1348.89
+    },
+    {
+      "variant": "momentum_only",
+      "total": 14696,
+      "wins": 6827,
+      "losses": 7359,
+      "expired": 510,
+      "hit_rate": 48.1,
+      "avg_r": 0.114,
+      "total_r": 1669.64,
+      "net_avg_r": 0.064,
+      "net_total_r": 936.93,
+      "best_r": 8.85,
+      "worst_r": -5.71,
+      "avg_hold_days": 8.4,
+      "net_r_per_day": 0.0076,
+      "median_net_r": -1.013,
+      "profit_factor": 1.11,
+      "net_avg_r_ex_top5": -0.055,
+      "hold_days": 30,
+      "hold_avg_r": 0.395,
+      "hold_net_avg_r": 0.345,
+      "hold_total_r": 5798.82
+    }
+  ],
+  "gate_ablation_note": "Each row re-qualifies the same candidates at the current momentum cutoff (80) with one floor removed (long-only while the momentum gate is active). If dropping a floor doesn't hurt net expectancy, that floor isn't pulling its weight. The Hold columns grade the same variants under the hold-to-horizon time exit instead of the S/R target \u2014 the view that matters if the exit policy moves to a fixed hold.",
+  "time_exit_sweep": [
+    {
+      "hold_days": 5,
+      "total": 1086,
+      "wins": 603,
+      "win_rate": 55.5,
+      "avg_r": 0.175,
+      "total_r": 190.16,
+      "net_avg_r": 0.129,
+      "net_total_r": 139.97,
+      "best_r": 5.09,
+      "worst_r": -2.51,
+      "avg_hold_days": 4.5,
+      "net_r_per_day": 0.0285,
+      "median_net_r": 0.115,
+      "profit_factor": 1.36,
+      "net_avg_r_ex_top5": -0.002
+    },
+    {
+      "hold_days": 10,
+      "total": 1086,
+      "wins": 559,
+      "win_rate": 51.5,
+      "avg_r": 0.357,
+      "total_r": 387.9,
+      "net_avg_r": 0.311,
+      "net_total_r": 337.7,
+      "best_r": 6.73,
+      "worst_r": -2.51,
+      "avg_hold_days": 7.9,
+      "net_r_per_day": 0.0395,
+      "median_net_r": 0.031,
+      "profit_factor": 1.67,
+      "net_avg_r_ex_top5": 0.112
+    },
+    {
+      "hold_days": 21,
+      "total": 1086,
+      "wins": 487,
+      "win_rate": 44.8,
+      "avg_r": 0.525,
+      "total_r": 570.33,
+      "net_avg_r": 0.479,
+      "net_total_r": 520.14,
+      "best_r": 9.86,
+      "worst_r": -3.38,
+      "avg_hold_days": 13.7,
+      "net_r_per_day": 0.0349,
+      "median_net_r": -1.027,
+      "profit_factor": 1.81,
+      "net_avg_r_ex_top5": 0.191
+    },
+    {
+      "hold_days": 30,
+      "total": 1086,
+      "wins": 434,
+      "win_rate": 40.0,
+      "avg_r": 0.631,
+      "total_r": 684.97,
+      "net_avg_r": 0.585,
+      "net_total_r": 634.78,
+      "best_r": 12.87,
+      "worst_r": -3.38,
+      "avg_hold_days": 17.8,
+      "net_r_per_day": 0.0329,
+      "median_net_r": -1.033,
+      "profit_factor": 1.9,
+      "net_avg_r_ex_top5": 0.212
+    }
+  ],
+  "portfolio_sim": {
+    "params": {
+      "starting_capital": 10000.0,
+      "max_positions": 10,
+      "risk_per_trade_pct": 1.0,
+      "notional_cap_pct": 20.0,
+      "cost_per_side_pct": 0.1,
+      "hold_days": 30
+    },
+    "policies": [],
+    "note": "One capital-constrained book over the same qualified setups the tables above grade per-setup: at most 10 concurrent positions (one per ticker), best momentum first, fixed-fractional risk sizing with a no-leverage cap, entries at the detection close, stops filled at the worse of stop or open. 'target' races the S/R target against the stop (timeout at the horizon); 'hold' keeps the initial stop and exits at the horizon close. SPY return is price-only over the same window. In-sample; no dividends."
+  },
+  "strategy_variants": {
+    "variants": [],
+    "note": "Research-only hold-to-horizon portfolio variants. Production now uses residual 12-1 momentum at cutoff 80; the remaining rows compare the legacy raw rank, raw cutoff 90, one max-15 capacity check, and volatility overlays."
+  },
+  "exit_policy_variants": {
+    "variants": [],
+    "note": "Research-only exit policies over the residual/high-vol 80/20 entry candidate. Every row uses the same entry qualification/ranking and changes only the exit discipline."
+  },
+  "portfolio_monitor": null,
+  "production_cadence_comparison": null,
+  "holdout": null,
+  "min_rr_sweep": null,
+  "target_model_diagnostics": {
+    "target_model": "production_gtl",
+    "target_model_label": "Live GTL (production)",
+    "candidate_count": 202765,
+    "primary_source_counts": {
+      "pivot_point": 196290,
+      "range_grid": 180036
+    },
+    "primary_round_only": 0,
+    "primary_strength_100": 138596,
+    "avg_primary_strength": 80.109,
+    "avg_primary_distance_atr": 2.293,
+    "avg_primary_rejection_count": 41.908,
+    "avg_raw_level_count": 53.204,
+    "avg_gate_level_count": 53.204
+  },
+  "signal_eval": [
+    {
+      "signal": "vol_6m",
+      "weeks": 39,
+      "avg_cross_section": 498.2,
+      "mean_ic": 0.0609,
+      "ic_t_stat": 1.48,
+      "ic_positive_pct": 64.1,
+      "mean_quintile_spread": 0.0337,
+      "reliable": true
+    },
+    {
+      "signal": "mom_12_1_resid",
+      "weeks": 35,
+      "avg_cross_section": 497.7,
+      "mean_ic": 0.0552,
+      "ic_t_stat": 1.98,
+      "ic_positive_pct": 60.0,
+      "mean_quintile_spread": 0.0207,
+      "reliable": true
+    },
+    {
+      "signal": "mom_12_1",
+      "weeks": 35,
+      "avg_cross_section": 497.7,
+      "mean_ic": 0.0531,
+      "ic_t_stat": 1.61,
+      "ic_positive_pct": 65.7,
+      "mean_quintile_spread": 0.0206,
+      "reliable": true
+    },
+    {
+      "signal": "trend_200",
+      "weeks": 37,
+      "avg_cross_section": 497.9,
+      "mean_ic": 0.0161,
+      "ic_t_stat": 0.44,
+      "ic_positive_pct": 59.5,
+      "mean_quintile_spread": 0.006,
+      "reliable": true
+    },
+    {
+      "signal": "reversal_1m",
+      "weeks": 43,
+      "avg_cross_section": 498.7,
+      "mean_ic": 0.0059,
+      "ic_t_stat": 0.22,
+      "ic_positive_pct": 53.5,
+      "mean_quintile_spread": 0.0053,
+      "reliable": true
+    },
+    {
+      "signal": "mom_6_1",
+      "weeks": 39,
+      "avg_cross_section": 498.2,
+      "mean_ic": 0.0051,
+      "ic_t_stat": 0.21,
+      "ic_positive_pct": 56.4,
+      "mean_quintile_spread": 0.0087,
+      "reliable": true
+    },
+    {
+      "signal": "mom_3_1",
+      "weeks": 42,
+      "avg_cross_section": 498.5,
+      "mean_ic": -0.0064,
+      "ic_t_stat": -0.25,
+      "ic_positive_pct": 50.0,
+      "mean_quintile_spread": 0.0046,
+      "reliable": true
+    },
+    {
+      "signal": "high_52w",
+      "weeks": 35,
+      "avg_cross_section": 497.7,
+      "mean_ic": -0.0086,
+      "ic_t_stat": -0.26,
+      "ic_positive_pct": 54.3,
+      "mean_quintile_spread": -0.0088,
+      "reliable": true
+    },
+    {
+      "signal": "fip_id",
+      "weeks": 35,
+      "avg_cross_section": 497.7,
+      "mean_ic": -0.045,
+      "ic_t_stat": -2.91,
+      "ic_positive_pct": 25.7,
+      "mean_quintile_spread": -0.0168,
+      "reliable": true
+    }
+  ],
+  "signal_eval_note": "Cross-sectional rank-IC of price-only signals vs the forward 30-day return (min 20 names/window). |IC| \u2273 0.03 with a consistent sign is a real (if small) edge; near 0 means ranking on it sorts nothing. Momentum factors and high_52w are expected positive; reversal_1m and vol_6m expected negative (mean-reversion / low-vol anomaly). IC is measured on non-overlapping windows; signals with fewer than 12 independent windows are flagged unreliable (too few regimes \u2014 deepen history with the Data Backfill job).",
+  "note": "Sentiment & fundamentals held neutral (no point-in-time history). Stops fill at the worse of the stop or the bar's open (gaps through the stop are modeled, so a loss can exceed \u22121R); targets never fill better than their level. ~6 months \u2248 one market regime \u2014 treat as directional, not gospel.",
+  "recommendation": {
+    "headline": "Trade the qualified list long-only; hold 30 trading days with the initial ATR stop.",
+    "items": [
+      {
+        "topic": "exit",
+        "text": "Legacy exit diagnostic: hold 30 trading days with the initial stop (+0.58R net/trade vs +0.21R for the S/R target exit)."
+      },
+      {
+        "topic": "gate",
+        "text": "Gate: the confidence floor adds nothing \u2014 dropping it costs +0.01R/trade and adds 7 trades."
+      },
+      {
+        "topic": "gate",
+        "text": "Gate: keep the R:R floor (worth +0.28R/trade under the hold exit)."
+      },
+      {
+        "topic": "gate",
+        "text": "Gate: keep the NEUTRAL exclusion (worth +0.05R/trade under the hold exit)."
+      },
+      {
+        "topic": "cutoff",
+        "text": "Residual-momentum cutoff: 90 has the best per-trade net (+0.23R over 497 setups)."
+      },
+      {
+        "topic": "robustness",
+        "text": "Robustness: expectancy survives removing the top 5% of winners (+0.21R net/trade under the recommended 30d hold) \u2014 the edge is not a handful of outliers."
+      }
+    ],
+    "note": "Derived from this report's numbers on every run \u2014 the advice flips if the data does."
+  },
+  "research_recommendation": {
+    "items": [],
+    "note": "Strategy variants unavailable; re-run the backtest after benchmark data is present."
+  }
+}
\ No newline at end of file
diff --git a/reports/fip-breadth-20260718-211440.json b/reports/fip-breadth-20260718-211440.json
new file mode 100644
index 0000000..5211c38
--- /dev/null
+++ b/reports/fip-breadth-20260718-211440.json
@@ -0,0 +1,59 @@
+{
+  "generated_at": "2026-07-18T21:14:40.170961",
+  "liquid_breadth_top_n": 1500,
+  "liquid_min_price": 5.0,
+  "fingerprint": {
+    "signal": "fip_id",
+    "weeks": 35,
+    "avg_cross_section": 497.7,
+    "mean_ic": -0.045,
+    "ic_t_stat": -2.91,
+    "ic_positive_pct": 25.7,
+    "mean_quintile_spread": -0.0168,
+    "reliable": true,
+    "pass": true,
+    "expected_ic": -0.045,
+    "expected_t": -2.9
+  },
+  "breadth": {
+    "signal": "fip_id",
+    "weeks": 35,
+    "avg_cross_section": 1471.2,
+    "mean_ic": 0.0575,
+    "ic_t_stat": 5.12,
+    "ic_positive_pct": 88.6,
+    "mean_quintile_spread": 0.0199,
+    "reliable": true,
+    "liquid_breadth_top_n": 1500,
+    "liquid_min_price": 5.0
+  },
+  "verdict": {
+    "green": false,
+    "reason": "iron rule not met on liquid-breadth cross-section",
+    "checks": {
+      "mean_ic": 0.0575,
+      "abs_mean_ic_ge_0_03": true,
+      "sign_negative": false,
+      "ic_t_stat": 5.12,
+      "reliable": true,
+      "weeks": 35,
+      "avg_cross_section": 1471.2
+    },
+    "row": {
+      "signal": "fip_id",
+      "weeks": 35,
+      "avg_cross_section": 1471.2,
+      "mean_ic": 0.0575,
+      "ic_t_stat": 5.12,
+      "ic_positive_pct": 88.6,
+      "mean_quintile_spread": 0.0199,
+      "reliable": true,
+      "liquid_breadth_top_n": 1500,
+      "liquid_min_price": 5.0
+    }
+  },
+  "fingerprint_report_path": "reports/fip-breadth-20260718-211440-fingerprint.json",
+  "breadth_report_path": "reports/fip-breadth-20260718-211440-breadth.json",
+  "breadth_tickers": 4650,
+  "breadth_rank_only_tickers": 4144
+}
\ No newline at end of file