Beyond The Chart – End-of-Week Macro Pulse: Gold, Silver Strength vs. Tech Pause
September 26, 2025 – Updates on XLF, XLY, XLK, XLE, GOLD, SILVER, BTCUSD, OIL, DXY
Inside today’s letter
🌟 Market Highlights & Weekly Recap
🪙 Hard Assets & Digital Pulse
🌍 Macro Crosswinds & Sector Rotation
🗓️ Next Week Catalysts
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6. 📑 Macro Index & Risk Map → Cyclical turns, stress points, and hidden momentum shifts
🌟 Market Highlights & Weekly Recap
The week closes with contrasting signals across sectors and macro instruments. Financials (XLF) remain stuck at a ceiling they have not yet managed to break, keeping the bullish setup in check. Consumer Discretionary (XLY) is undergoing a pullback, showing signs of testing investor conviction. Technology (XLK) cooled off after its recent breakout, with a small correction aligning closely with short-term momentum averages.
Energy (XLE) continues to impress, printing a fresh high and keeping its bullish structure alive as buyers remain firmly in control. Precious metals are shining again: Gold is pushing into resistance, holding a strong bullish stance, while Silver hit a new high and extended further, confirming its leadership among industrial metals.
In digital assets, Bitcoin extended its bearish setup, slipping lower and pointing toward additional weakness. Oil has stalled into a flat zone, awaiting a directional push, while the DXY keeps its bearish tone, suggesting sellers remain in control even as short-term bounces attempt to emerge.
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🪙 Hard Assets & Digital Pulse
Gold and Silver remain the stars of this week, with fresh upside momentum reinforcing their bullish setups. Oil, by contrast, is stuck in a flat zone, with traders waiting for the next directional signal. Bitcoin shows further weakness as sellers dominate, highlighting divergence across the digital and commodity landscape.
🌍 Macro Crosswinds & Sector Rotation
Rates: Yields remain steady, sustaining financials while pressuring tech.
Dollar: The DXY stays heavy, extending weakness that supports metals and exporters.
Rotation: Energy and precious metals dominate leadership, while tech consolidates.
Liquidity: Stress signals remain in repo and swaps, suggesting markets aren’t as calm as they look.
🗓️ Next Week Catalysts
Sep 29: US consumer confidence – potential driver for discretionary stocks.
Sep 30: Eurozone CPI – key for FX and metals.
Oct 1: US ISM manufacturing – first signal for Q4 macro rotation.