Weekly CharterN° 162026-07-26
Edition of 2026-07-26
Earlier editions kept an older format than the one shown today; the content is unchanged.
Three points
Equities remain constructive and the rally is supported by a broad number of stocks.
Raw materials rise with the cycle, but gold, a safe-haven asset, pulls back.
A confirmation would come from a strengthening of gold alongside commodities.
Four pillars
Each pillar reads the week on its own terms, independently of the others.
Equities
Favourable
Trend: Favourable · Momentum: Neutral · Coherence: Confirmed
Gold
Weakening
Trend: Unfavourable · Momentum: Unfavourable · Coherence: Confirmed
Commodities
Cyclical strength
Trend: Favourable · Momentum: Favourable · Coherence: Confirmed
Bitcoin
Cooling
Trend: Unfavourable · Momentum: Neutral · Coherence: Confirmed
Market pulse
| Market | Level | Week | YTD |
|---|---|---|---|
| SP500 | 738.93 | -0.6% | +8.7% |
| Gold | 371.90 | +0.9% | -6.6% |
| Commodities | 30.10 | +3.9% | +34.4% |
| Bitcoin | 64,482 | -3% | -27.3% |