ETF Tracker Newsletter For January 30, 2026

Market Overview - Major indexes experienced a decline, with technology shares remaining under pressure. President Trump's selection of Kevin Warsh as the Federal Reserve chair has somewhat alleviated concerns regarding Fed independence due to his hawkish stance on inflation [4][5] - Despite the overall market weakness, the S&P 500, Dow, and Nasdaq are still on track for a positive January, each up more than 1% for the month so far [5] Commodity Market - Gold spot prices fell 16% from the previous day's highs, while silver dropped 39%, indicating market comfort with Warsh's hawkish lean. However, both metals remain significantly higher for the month (+12% for gold and +14% for silver) and for the past year (+72% for gold and +164% for silver) [6] Bond Market - Bond yields increased following a higher-than-expected December core producer price index, which rose by 0.7% compared to the anticipated 0.3% [7] Equity Market Performance - Apple shares declined despite reporting better-than-expected Q1 earnings and revenue, driven by strong iPhone sales. In contrast, SanDisk's stock surged by 22% due to positive guidance [7] - The equity markets showed volatility throughout the week but ended January on a higher note, with small caps leading the gains while the Nasdaq lagged [7] Currency and Cryptocurrency - The dollar has depreciated for the third consecutive month, while Bitcoin exhibited typical volatility, initially dropping but recovering by the end of the trading day [8] Trend Tracking Indexes (TTIs) - The domestic TTI remains bullish, closing at +6.52% above its moving average, while the international TTI closed at +10.51% above its moving average, both maintaining their respective "Buy" signals [12][13]