The Daily Dashboard
Microsoft Melts Up Stocks, Dollar Cracks Again
The Score Climbs to 21 as Metals Rip Higher
Friday, July 31, 2026
TRADER'S BRIEF
Microsoft's blowout Azure quarter (stock +16% in a single session) powered a broad tech melt-up Thursday. The Nasdaq (QQQ) jumped 3.30% and the S&P proxy (SPY) rose 1.68%, a sharp reversal of Wednesday's Fed-day selloff.
The dollar (UUP) fell another 0.99% to 28.14, its second straight down session since Wednesday's FOMC hold. Its own CCI stayed deeply RED, confirming the rollover for a second day.
The Supercycle Score jumped to 21/100 (Strong Headwind), its second straight double-digit gain off Tuesday's 1/100 floor, as the dollar keeps sliding off its 52-week high.
Palladium (+4.24%) and copper (+2.58%) led a broad commodity rally on the softer dollar. Gold (+1.64%) and silver (+3.34%) both confirmed GREEN for a second straight day.
Crude (USO) eased 1.42%, giving back a slice of Wednesday's Iran-driven spike as that geopolitical premium cools.
With Brad Hoppmann
ALSO FROM GOLDEN CYCLES RESEARCH
Sector Cycle Radar: the free daily read on which S&P sectors are turning
Sector rotation is the equities-side mirror of the dollar-debasement trade this letter tracks every morning.
That's the free preview. Below: the full Scoreboard, the Supercycle Score, the macro read, and the Taintsville Take.
The Daily Dashboard is an educational publication of Golden Cycles Research. Nothing here is investment advice. Past performance and model outputs do not guarantee future results.