Quick Notes
An extraordinary session: gold surged nearly 4% to fresh all-time highs while tech posted a modest gain. The divergence between the two assets has now reached historic proportions—gold up roughly 17% from its early January lows while tech trades only marginally higher over the same period. When relative strength moves this decisively, the internal metrics reflect it without ambiguity. Subscribers see exactly how the model reads this environment and what it means for positioning.