July 2026 Signal Map: Value advances, technology lags behind
July opens with the slowdown quadrant in the lead (50% probability, against 30% for expansion) — a change of state from the 55.6% expansion reading at the end of May. Beneath the surface, quality and cyclical sectors are gaining ground while technology lags behind. The dollar, at the top of the entire KBMeter system, took its first real hit on July 3, only to recover most of it almost immediately.
How the scores moved
| Category | Jun 19 | Jun 26 | Jul 8 | Trend |
|---|---|---|---|---|
| Technology | 55.4 | 49.0 | 45.5 | ↓ |
| Dollar | 63.5 | 63.4 | 67.3 | ↗ (with a swing in between) |
| Bonds | 50.9 | 51.5 | 46.5 | ↓ (after a peak on June 30) |
| Gold | 47.8 | 43.9 | 47.1 | → (isolated bounce, unconfirmed) |
| Asia Equities | 52.6 | 48.4 | 47.9 | ↓ |
| Europe Equities | 54.7 | 57.5 | 58.6 | ↑ |
| US Equities | 54.2 | 54.2 | 54.5 | → |
This month’s signals
↑ Overweight — Value Score today: 56.5 (IWD) · Gap vs Growth (IWF): +10.7 points The Value factor has been beating the Growth factor for weeks, not for a single day.
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