Swami Weekly Wrap: Aug 24th, 2026 [Dollar + gold + crypto break through]

Hi Swami Subs,

This week’s board looks very different beneath the surface. The US Dollar has now broken into a firmly bearish trend, while gold has flipped into a firmly bullish trend. Crypto also made a massive move last week, but is now both short- and long-term overbought, which means the better setup is likely not chasing strength — it is waiting for consolidation and a higher low above trend.

Equities are also pulling back after multiple weeks of reversal signals. That is not necessarily bearish. In many cases, equity ETFs are dipping back toward their Swami Add levels, which is often how a healthy bullish trend resets. This week is less about panic and more about precision: look for entries and adds where the ranges support it.

Swami All-Equity also held up better than SPY last week, declining -0.9% versus SPY -1.4%. That relative outperformance was helped by underweight positioning in semiconductors, as SOXX declined -5.5% after an enormous run over the past year.