Swami Weekly Wrap: Sept 28th, 2026 [Consolidation turns to weakness for gold, inflation-equities, and small caps]

Hi Swami Subs,

The market is starting to separate again.

After several weeks of consolidation, weakness is finally showing up in some of the areas that had been working best — particularly gold, inflation-sensitive equities, and small caps. At the same time, the US Dollar, Bitcoin, and large-cap growth continue to hold up, creating a much more divided signal board heading into next week.

THE MACHINE is responding accordingly. Energy exposure has fallen out of the Swami All-Equity lineup, while Technology, Communications, Mega-Cap Growth, Software, and Cloud remain near the top of the signal stack. Five growth-heavy positions from last week remain in the portfolio, suggesting that the strongest signals are increasingly concentrated away from inflation-linked trades.