Where this number comes from

US stock market

Every fact below is read from the registers the pipeline itself runs on — the series registry, the derivation register and the gauge definitions — not from prose maintained beside them. If a link or weight here is wrong, the dashboard is computing with the same wrong thing, and the audits fail.

The chain

US stock market us.equity.spx fetched from the publisher

Source: FRED, Federal Reserve Bank of St. Louis SP500
Last observation: 7,706.03 index on 2026-09-23 stored 2026-09-24 16:03 UTC

What reads this series

Condition meters

Appetite for risk — weight 30, sign +, transform vs_200d.

Indicators

Whether bonds are diversifying shares — reads it: 60-observation Pearson correlation of daily S&P 500 returns and a DGS10 bond proxy, where bond r ≈ −7 × Δyield + yield ÷ 252

Position tests

Own America, but no more than the world already gives you — test “S&P 500 versus its 200-day average”.

The same chain as JSON: /v1/series/us.equity.spx/lineage · raw observations: /v1/series/us.equity.spx/observations