Swami Weekly Wrap: July 20th, 2026 [Buy signals in USD and equities setting up]

Hi Swami Subs,

A rare setup hit the board this week: buy signals triggered in both SPY and the US Dollar (UUP) on Wednesday. So far, the UUP signal is working, while SPY weakened into Friday’s close and may remain under pressure near-term. That does not cancel the signal, but it does make follow-through important. Watch the Swami Score closely this week for continued signal strengthening — or deterioration.

The commodity board still looks weak. Oil and gold remain firmly bearish in the model, and the Daily ETF Report continues to show poor signal strength across most commodities. But oil is now bouncing toward the top end of its range and threatening a potential bullish trend breakout. That matters because THE MACHINE is already itching to buy energy stocks, adding both XLE and XOP to next week’s Swami All-Equity lineup.

The key question from here: if oil confirms a bullish breakout, does that leadership stay isolated in energy — or do gold and silver start to follow?