NYSEARCA · ETF · ENHANCED MARKET DYNAMICS

USG

USCF ETF TRUST GOLD STRATEGY PLUS INCOME ETF

EMD SCORE39/100

CURRENT COMPLETED-WEEK READ

Cautious

The balance of evidence is weakening and risk control deserves more attention. Conditions remain cautious, although the latest readings are improving.

Early repair33% directional agreement79/100 evidence quality6/6 sources available

Completed week: 25 Sep 2026
Latest close: USD 32.61
Evidence: 156 weeks

This report uses 25 Sep 2026. The latest completed calendar week is 2 Oct 2026; newer evidence has not yet reached this listing.

Four-week EMD change+4.8 pts

signed chart scale −100 to +100

Four-week price-3.8%

completed closing prices

Current directional run19 weeks

on the same side of EMD zero

Recent consistency0/13

recent readings above zero

COMPLETED-WEEK OVERVIEW

Price and market conditions over time

0 supportive · 2 cautious

Enhanced Market Dynamics and the price cycle156 completed weeks · bars use the left EMD axis; price uses the right axis.

6 Oct 2023–25 Sep 2026

Constructive EMDCautious EMDCompleted-week priceUp-cycle confirmationDown-cycle confirmation

Confirmation markers describe price-zone departures within this saved history. Earlier markers can change as the history changes; they are not a record of signals available in real time.

Cycle position 77%Current EMD -22.44-week EMD change +4.8Full saved history price range USD 16.15–41.37

View chart values · 156 observations

Week	Close · USD	EMD −100 to +100	Score /100	Agreement %	Coverage %
2023-10-06	16.15	-22.62	39	20	83
2023-10-13	17.01	-8.01	46	20	83
2023-10-20	17.45	8.63	54	0	83
2023-10-27	17.75	23.5	62	100	100
2023-11-03	17.66	15.42	58	20	100
2023-11-10	17.16	-3.87	48	0	100
2023-11-17	17.56	3.13	52	0	100
2023-11-24	17.76	19.11	60	60	100
2023-12-01	18.31	49.51	75	67	100
2023-12-08	17.78	21.85	61	33	100
2023-12-15	17.93	33.35	67	67	100
2023-12-22	18.29	27.5	64	33	100
2023-12-29	18.32	29.11	65	60	100
2024-01-05	18.18	28.44	64	33	100
2024-01-12	18.20	32.62	66	60	100
2024-01-19	18.03	26.01	63	60	100
2024-01-26	17.96	22.46	61	60	100
2024-02-02	18.07	19.58	60	60	100
2024-02-09	18.00	12.04	56	33	100
2024-02-16	17.87	17.24	59	60	100
2024-02-23	18.10	18.41	59	60	100
2024-03-01	18.43	19.48	60	60	100
2024-03-08	18.77	35.06	68	67	100
2024-03-15	18.86	31.31	66	60	100
2024-03-22	18.82	27.54	64	60	100
2024-03-29	19.15	34.05	67	60	100
2024-04-05	19.71	54.78	77	67	100
2024-04-12	19.77	42.36	71	60	100
2024-04-19	19.87	56.95	78	100	100
2024-04-26	19.96	58.74	79	100	100
2024-05-03	19.66	39.71	70	60	100
2024-05-10	20.18	57.92	79	100	100
2024-05-17	20.65	56.78	78	100	100
2024-05-24	19.95	30.53	65	33	100
2024-05-31	19.93	38.23	69	60	100
2024-06-07	19.64	14.34	57	33	100
2024-06-14	19.98	36.78	68	67	100
2024-06-21	20.00	21.54	61	33	100
2024-06-28	19.95	31.86	66	67	100
2024-07-05	20.42	43.93	72	67	100
2024-07-12	20.70	38.2	69	67	100
2024-07-19	20.60	21.98	61	33	100
2024-07-26	20.54	29.57	65	60	100
2024-08-02	20.88	44.31	72	100	100
2024-08-09	20.95	49.55	75	100	100
2024-08-16	21.43	49.89	75	100	100
2024-08-23	21.57	50.07	75	100	100
2024-08-30	21.56	37.98	69	60	100
2024-09-06	21.51	52.78	76	100	100
2024-09-13	22.25	64.01	82	100	100
2024-09-20	22.58	61.15	81	100	100
2024-09-27	22.84	60.97	80	100	100
2024-10-04	22.90	61.88	81	100	100
2024-10-11	22.86	61.52	81	100	100
2024-10-18	23.47	66.08	83	100	100
2024-10-25	23.62	66.84	83	100	100
2024-11-01	23.53	52.3	76	67	100
2024-11-08	23.18	40.86	70	60	100
2024-11-15	22.12	20.21	60	33	100
2024-11-22	23.33	54.33	77	100	100
2024-11-29	22.97	40.05	70	100	100
2024-12-06	22.76	16.9	58	20	100
2024-12-13	22.89	20.42	60	50	100
2024-12-20	22.69	17.03	59	20	100
2024-12-27	22.74	22.75	61	60	100
2025-01-03	22.91	24.86	62	60	100
2025-01-10	23.32	36.77	68	67	100
2025-01-17	23.51	29.6	65	60	100
2025-01-24	23.93	38.78	69	100	100
2025-01-31	24.12	43.71	72	100	100
2025-02-07	24.59	50.83	75	100	100
2025-02-14	24.79	42.21	71	67	100
2025-02-21	25.13	61.6	81	100	100
2025-02-28	24.63	42.67	71	67	100
2025-03-07	25.12	63.21	82	100	100
2025-03-14	25.83	74.6	87	100	100
2025-03-21	26.19	68.75	84	100	100
2025-03-28	26.55	77.12	89	100	100
2025-04-04	26.26	51.25	76	67	100
2025-04-11	27.09	84.8	92	100	100
2025-04-18	27.36	72.29	86	100	100
2025-04-25	27.34	60.96	80	67	100
2025-05-02	26.71	52.76	76	67	100
2025-05-09	27.51	57.09	79	67	100
2025-05-16	26.42	46.75	73	67	100
2025-05-23	27.82	73.61	87	100	100
2025-05-30	27.30	53.8	77	67	100
2025-06-06	27.57	55.54	78	100	100
2025-06-13	28.41	64.88	82	100	100
2025-06-20	27.91	52.86	76	100	100
2025-06-27	27.10	33.49	67	67	100
2025-07-04	27.71	43.17	72	100	100
2025-07-11	27.96	43.12	72	100	100
2025-07-18	27.82	32.36	66	60	100
2025-07-25	27.63	16.44	58	33	100
2025-08-01	27.96	42.21	71	67	100
2025-08-08	28.31	40.05	70	100	100
2025-08-15	27.68	17.2	59	20	100
2025-08-22	27.97	27.95	64	60	100
2025-08-29	28.70	40.04	70	100	100
2025-09-05	29.47	53.21	77	100	100
2025-09-12	29.73	56.95	78	100	100
2025-09-19	29.91	70.76	85	100	100
2025-09-26	29.99	59.73	80	100	100
2025-10-03	30.93	64.29	82	100	100
2025-10-10	31.57	67.68	84	100	100
2025-10-17	32.03	67.51	84	100	100
2025-10-24	32.09	71.02	86	100	100
2025-10-31	31.96	66.36	83	100	100
2025-11-07	32.14	66.07	83	100	100
2025-11-14	32.60	48.84	74	67	100
2025-11-21	32.57	65.62	83	100	100
2025-11-28	33.64	72.45	86	100	100
2025-12-05	33.76	66.72	83	100	100
2025-12-12	34.47	70.45	85	100	100
2025-12-19	34.91	74.66	87	100	100
2025-12-26	35.86	75.79	88	100	100
2026-01-02	34.35	50.3	75	67	100
2026-01-09	35.77	72.84	86	100	100
2026-01-16	36.35	54.84	77	67	100
2026-01-23	39.09	80.34	90	100	100
2026-01-30	37.49	55.41	78	67	100
2026-02-06	38.68	80.76	90	100	100
2026-02-13	39.31	74.83	87	100	100
2026-02-20	39.76	73.72	87	100	100
2026-02-27	41.37	80.72	90	100	100
2026-03-06	40.53	71.2	86	100	100
2026-03-13	39.48	55.3	78	67	100
2026-03-20	35.46	37.9	69	60	100
2026-03-27	35.31	49.31	75	100	100
2026-04-03	36.61	42.83	71	100	100
2026-04-10	37.49	33.25	67	60	100
2026-04-17	38.28	41.9	71	67	100
2026-04-24	37.22	21.11	61	33	100
2026-05-01	36.40	15.86	58	50	100
2026-05-08	37.19	20.53	60	60	100
2026-05-15	35.95	0.51	50	20	100
2026-05-22	35.60	-13.42	43	60	100
2026-05-29	35.80	-9.74	45	50	100
2026-06-05	34.25	-25.69	37	67	100
2026-06-12	33.34	-27.31	36	60	100
2026-06-19	33.39	-30.87	35	60	100
2026-06-26	32.18	-32.54	34	60	100
2026-07-03	32.67	-26.69	37	33	100
2026-07-10	32.54	-32.84	34	60	100
2026-07-17	31.85	-39.02	30	67	100
2026-07-24	32.23	-37.51	31	60	100
2026-07-31	32.13	-36.19	32	60	100
2026-08-07	33.98	-17.61	41	20	100
2026-08-14	34.48	-19.38	40	20	100
2026-08-21	34.87	-10.3	45	0	100
2026-08-28	33.89	-27.21	36	100	100
2026-09-04	33.70	-15.59	42	0	100
2026-09-11	33.02	-27.31	36	60	100
2026-09-18	33.26	-14.39	43	20	100
2026-09-25	32.61	-22.38	39	33	100

SIX SOURCES · LAST 26 OBSERVATIONS

Is support broadening or thinning?

Green is supportive, rose is cautious.
Grey means the reading is unavailable.

Reading	3 Apr	10 Apr	17 Apr	24 Apr	1 May	8 May	15 May	22 May	29 May	5 Jun	12 Jun	19 Jun	26 Jun	3 Jul	10 Jul	17 Jul	24 Jul	31 Jul	7 Aug	14 Aug	21 Aug	28 Aug	4 Sep	11 Sep	18 Sep	25 Sep
Trend	85	89	92	83	73	80	65	25	25	11	7	7	3	4	4	3	4	4	12	17	22	14	14	10	13	11
Momentum	56	59	79	68	60	58	46	47	49	39	39	46	39	42	43	37	45	42	53	60	61	56	49	44	43	46
Underlying pressure	48	35	34	33	31	31	29	26	23	20	18	16	14	14	13	13	14	13	16	21	28	40	45	49	49	48
Price & volume	61	52	64	36	47	58	36	40	55	39	48	34	47	58	51	43	35	47	78	54	69	40	59	38	70	48
Relative strength	89	86	80	68	55	54	39	32	29	24	16	15	13	12	9	9	11	9	12	15	20	13	12	10	12	8
Modeled Trend	90	90	90	89	89	88	87	86	85	83	81	78	74	71	68	66	64	62	60	59	57	56	57	56	57	57

Each cell is a finished component score from 0–100. Components can disagree even when the combined reading stays positive.

STRONGEST CURRENT SOURCE

Modeled Trend

57/100

LEAST SUPPORTIVE SOURCE

Relative strength

8/100

WHAT WOULD CHANGE THE READ?

Three paths to keep in view

Conditional research scenarios.
No assumed price target or timing.

Continuation

Price and evidence stay together

Further price weakness alongside cautious trend, pressure and relative strength would support the current defensive read.

Change of direction

Repair needs follow-through

Improving EMD while price still falls is an early observation. A turn in price and broader agreement would strengthen a repair case.

Cycle context

A range extreme is a location

An upper zone can persist during a strong advance; a lower zone can persist during a decline. Use departures, EMD direction and the related price charts together.

EARLIER COMPARABLE READINGS

What followed similar conditions?

Same ticker · similar score and direction of change.
Returns exclude costs and dividends.

4 WEEKS LATER

Too few comparisons

1 non-overlapping example. At least three are needed to display a summary.

13 WEEKS LATER

Too few comparisons

0 non-overlapping examples. At least three are needed to display a summary.

How these comparisons are selected

Earlier observations must have the same constructive/fading/repair/deterioration condition, a score within ten points of today’s score and at least the same component coverage. The first 30 observations are omitted for warm-up; examples are spaced by the forward horizon to avoid overlap. Gapped return windows are excluded. The all-period comparison uses the same available history and spacing, without matching the current state. These are reconstructed observations, not a point-in-time strategy backtest or a forecast.

RECENT CYCLE HISTORY

How the current reading developed

4 Sep 2026Down-cycle confirmedUSD 33.70

26 Jun 2026Down-cycle confirmedUSD 32.18

7 Jun 2024Down-cycle confirmedUSD 19.64

29 Mar 2024Upper cycle zone confirmedUSD 19.15

THE FULL PRICE CYCLE

Follow the journey from one zone to the other

Cycle states use trailing completed-week observations.

Lower zone

Price establishes residence near the bottom of its long-cycle range. Improving EMD separates early repair from continued deterioration.

Upward journey

Price leaves the lower zone while EMD confirms improving participation. The objective is the broader move toward the upper zone, not a short weekly trade.

Upper zone

Price establishes residence near the top of its long-cycle range. A high range position can persist. Watch EMD for exhaustion and loss of support before interpreting it as a turn.

Downward journey

Price leaves the upper zone while EMD weakens. The reverse cycle remains active until lower-zone residence is confirmed again.

CURRENT READINGS