March 11, 2026 | Power Index

The Power Index ranks five major capital buckets by relative performance for the short window ending March 11, 2026 (Mon close → Tue close). U.S. Equities are proxied by SPY, Treasuries by IEF, Commodities by DBC, Gold by GLD, and Bitcoin by BTC spot close.

The ranking table changed. U.S. Equities moved into first position after Tuesday’s rebound. Commodities fell from the top spot to fourth as oil retreated sharply from its earlier highs. Gold and Treasuries both held upper-half positions, while Bitcoin remained last.

U.S. Equities rise to #1. The strongest relative move in the window came from the recovery in large-cap stocks after the prior energy shock eased. The bucket moves from lower positioning into leadership, making it the clearest rank change in the universe.

Gold moves to #2. Defensive participation remained intact even as equities improved. Gold did not lead the table, but it stayed strong enough to hold an upper-tier position during the rebound.

Treasuries hold #3. Duration remained stable without taking control of the ranking. The placement reflects steadiness rather than leadership. Treasuries neither broke higher nor lost relevance.

Commodities fall to #4. After several windows of dominance, the commodity bucket lost relative position as crude oil pulled back sharply from elevated levels. The decline does not remove commodities from relevance, but it does end the latest stretch of first-place control.

Bitcoin remains #5. The crypto bucket again failed to confirm broader risk appetite. Even with equities recovering, Bitcoin did not move enough to improve its standing inside the table.

Contribution dispersion shifted away from the commodity complex and back toward equities. The top of the ranking no longer reflects inflation-linked leadership alone. A relief move in stocks was enough to change the order.

U.S. Equities move to #1 — the rebound was strong enough to reset the table.
Gold rises to #2 — defensive strength persisted during the recovery.
Treasuries remain #3 — stability continues without leadership.
Commodities fall to #4 — recent dominance broke as oil cooled.
Bitcoin remains #5 — speculative capital still lacks confirmation.

Leadership changed. The structure no longer points to commodity dominance. For this window, relative power shifted back toward equities, while Bitcoin remained detached from the move.