Darwin 2026 Portfolio Review: 6 February 2026

Chepstow Castle, Wales

US Equities, as represented by the SPX (S&P 500 Index), lost ~0.2% on the week but continue to consolidate in the 6900-7000 range after falling below this range earlier in the week and recovering on Friday with support at the 6800 level and 89-period Exponential Moving Average (EMA) line:

Volume has been above average, particularly on down days, so we must watch to see where we go from here.

Reative to other major asset classes US Equities did not fare particularly well with Gold and International Equities leading the way:

At present, holdings in the Darwin Portfolio look like this:

with equal weight holdings in all ETFs in the quiver with the exception of US Equities and Treasuries.

Checking the analysis sheet for recommendations, we see the following picture:

with recommendations to Sell VNQ (US Real Estate) and Buy SPYM (US Equites) on a possible Mean Reversal signal.

If we check the momentum/acceleration graphs for these two ETFs we see the following:

VNQ’s momentum is negative but rising and acceleration is likewise in the same pattern – so it may be prudent to watch this closely over the next few days rather than to sell right now.

SPYM is showing negative momentum and falling even though acceleration is slightly positive, showing a possible reversal of momentum – but acceleration is barely possitive and turning slightly downward:

Again, this is not a strong looking Buy signal, so I shall watch and wait for confirmation, either way.

This means that I will not be making adjustments at this point with portfolio performance looking like this:

and nicely staying ahead of the benchmark AOA Fund.