Swami Weekly Wrap: July 6th, 2026 [Factor rotation likely in play again]

Hi Swami Subs,

The market continues to grind higher, but the leadership underneath the surface is starting to shift again. Low volatility is beginning to meaningfully outpace high beta, bonds lost trend support, and commodities remain weak. That makes this less of a broad “risk-on” setup and more of another potential factor rotation week.

Swami All-Equity kept pace with the tape, advancing +2.0% versus SPY +2.2%, with strong contributions from PANW and IBB. Year-to-date, SAE remains well ahead of SPY at +16.8% versus +9.8%, driven by systematic rotation into the strongest signals each week.