Ethereal Charm

There are small signs worth noting. That fourth-place finish represents a genuine step forward from the two seventh-place efforts around it, suggesting Ethereal Charm is at least capable of competing more meaningfully on the right day. But the most recent run — a finish of 10th — was a backward step, and it means the horse heads into its next race with more questions than answers.

The yard behind it is Daisy Hitchins' operation in Sherborne, Dorset, which has sent out 13 winners this season and is clearly capable of getting horses to perform. Hitchins has the results to suggest she knows what she's doing, so it would be premature to write Ethereal Charm off entirely — sometimes it simply takes a young horse time to figure things out. But right now, the record is what it is: zero wins from four tries, and no sign yet of a breakthrough.