After last week’s violent reversal, trend-followers found breathing room. Volatility collapsed. Commodities surged. But while price action calmed, clarity did not. This was not a trend resurgence—it was a recalibration.

SG Trend Index Performance:

• MTD: -5.86% (vs. -6.43% last week)
• YTD: -10.25% (vs. -10.79% last week)
• The bleeding slowed—but portfolios are still climbing out of drawdown.

TTU Trend Barometer:

• Fell to 50% (from 55%) — slipping back into neutral
• Strong moves returned, but trend confidence is fading.

Key Market Highlights:

• Crude Oil (WTI): +8.5% – Energy snapped back
• Gold & Silver: +5.15% / +5.81% – Haven assets extended strength
• Orange Juice: +15.95% – Softs went vertical
• VIX: -15.52% – Volatility collapsed just as quickly as it spiked
• USD: -1.42% – The dollar continued to drift lower
• Natural Gas: -8.69% – A painful week for long-side exposure

Trend-Following Insight:
Some models recovered. Others didn’t. The trend environment remains fragile. Strong pockets exist (metals, softs, energy), but system-wide confidence is low. This isn’t rotation. It’s recalibration.

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Stay mechanical. Stay humble. Stay prepared.