Ratio Regime Board
Research, not investment advice.
Summary — week ending Friday 2026-10-02
Risk-on · Growth-led · Narrow breadth · Credit strong · Yields rising
Key readings
- Risk-off pressure: 0 of 6 risk-off ratios at weekly 3/5 or better (last week 0 of 6).
- Growth leadership: 13 of 17 Growth leadership ratios at weekly 5/5 (last week 9 of 17).
- Breadth: RSP/SPY weekly 0/5, monthly 0/5; IWM/SPY weekly 1/5, monthly 1/5; IJR/SPY weekly 1/5, monthly 0/5.
- Credit: JNK/IEF weekly 5/5, monthly 5/5, 200-week above/rising; JNK weekly 0/5, monthly 2/5, 200-week below/rising; BKLN weekly 1/5, monthly 0/5, 200-week below/falling; LQD weekly 0/5, monthly 1/5, 200-week below/falling.
- Rates: US10Y weekly 5/5, monthly 5/5; IEF weekly 0/5, monthly 0/5.
- Risk-on tilt: 34 risk-on aligned · 14 risk-off aligned · 7 mixed (1 n/a; 3 rates rows excluded; Foreign and Real assets not counted, 21 rows).
Top 5 changes
Of 28 changes · full list under Details
- QQQ/VTV Cloud W: 3/5 → 5/5 (into 5/5)
- AIQ/SPY Cloud W: 3/5 → 5/5 (into 5/5)
- QQQ/SPY Cloud W: 4/5 → 5/5 (into 5/5)
- NDX/SPX Cloud W: 4/5 → 5/5 (into 5/5)
- XLF Cloud W: 5/5 → 4/5 (out of 5/5)
What would change the read
- Risk-on: risk-off ratios at weekly 3/5 or better now 0 of 6 scored. Risk-on at 0–1, Cautious at 2–3, Risk-off at 4 or more.
- Growth-led: 13 of 17 at weekly 5/5 (Growth-led needs 9). Leadership mixed at 8 or fewer.
- Narrow breadth: RSP/SPY weekly 0/5. Narrow breadth at 1/5 or less, Breadth neutral at 2/5–3/5, Broad breadth at 4/5 or more.
- Credit strong: JNK/IEF weekly 5/5. Credit weak at 1/5 or less, Credit neutral at 2/5–3/5, Credit strong at 4/5 or more.
- Rates: US10Y weekly 5/5 (in the headline as "Yields rising"). 4/5 or more adds "Yields rising", 1/5 or less adds "Yields falling", 2/5–3/5 adds nothing.
Risk-on tilt
Risk-on aligned 34 · Risk-off aligned 14 · Mixed 7
1 n/a · 3 rates rows excluded · Foreign and Real assets not counted, 21 rows · per-section alignment counts below
| Section | Risk-on when | Aligned up | Pullback in uptrend | Mixed | Rally in downtrend | Aligned down | n/a | Risk-on / off / mixed |
|---|---|---|---|---|---|---|---|---|
| 1 REGIME - INDICES & RATES | Aligned up = risk-on; VIX inverted; US10Y, IEF, IEI excluded (rates) | 5 | 2 | 0 | 0 | 3 | 0 | 5 / 0 / 2 |
| 2 FEAR GAUGES - CREDIT & DEFENSIVE | Aligned down = risk-on; JNK/IEF not inverted (Aligned up = risk-on) | 1 | 0 | 0 | 1 | 13 | 0 | 14 / 0 / 1 |
| 3 GROWTH LEADERSHIP | Aligned up = risk-on | 15 | 0 | 1 | 0 | 0 | 1 | 15 / 0 / 1 |
| 4 BREADTH & ROTATION | Aligned up = risk-on | 0 | 2 | 1 | 0 | 14 | 0 | 0 / 14 / 3 |
| 5 FOREIGN | not counted (alignment only) | 4 | 3 | 1 | 0 | 3 | 0 | not counted |
| 6 REAL ASSETS | not counted (alignment only) | 0 | 6 | 2 | 2 | 0 | 0 | not counted |
| Symbol | Cloud W | Cloud M | Stack W | 200-wk | 300-wk | Short | Medium | Long | Alignment |
|---|---|---|---|---|---|---|---|---|---|
| 1 REGIME - INDICES & RATES · 10 symbols | |||||||||
| Indices & rates — high score = the index or yield itself is trending up (VIX high = volatility rising; US10Y high = the 10-year yield rising; IEF/IEI high = Treasury prices rising, i.e. yields falling). | |||||||||
| IXIC | 5/5 ↗ | 5/5 ↗ | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| NDX | 5/5 ↗ | 5/5 ↗ | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| SPX | 5/5 ↗ | 5/5 | BULL | above/rising | above/rising | B 78 | A 100 | A 100 | Aligned up |
| SPY | 5/5 ↗ | 5/5 | BULL | above/rising | above/rising | B 78 | A 100 | A 100 | Aligned up |
| US10Y | 5/5 ↗ | 5/5 ↗ | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| DJI | 5/5 ↗ | 5/5 | mixed | above/rising | above/rising | F 0 | A 89 | A 100 | Pullback in uptrend |
| RSP | 5/5 ↗ | 5/5 | mixed | above/rising | above/rising | F 0 | A 89 | A 100 | Pullback in uptrend |
| IEI | 0/5 | 1/5 | mixed | below/falling | below/falling | F 0 | F 11 | F 11 | Aligned down |
| IEF | 0/5 | 0/5 | mixed | below/falling | below/falling | F 0 | F 11 | F 0 | Aligned down |
| VIX | 0/5 | 0/5 | mixed | below/falling | below/falling | D 22 | F 11 | F 0 | Aligned down |
| 2 FEAR GAUGES - CREDIT & DEFENSIVE · 16 symbols | |||||||||
| Fear gauges — ratios: high score = the defensive numerator (cash, Treasuries, staples, low-vol, yen, commodities) leading stocks; credit ETFs on their own (JNK, BKLN, LQD, BSV): high score = those bond prices rising. Exception JNK/IEF: high = high-yield leading Treasuries (credit spreads tightening). | |||||||||
| JNK/IEF | 5/5 ↗ | 5/5 | mixed | above/rising | above/rising | B 78 | A 89 | A 100 | Aligned up |
| JNK | 0/5 | 2/5 | mixed | below/rising | below/falling | F 0 | F 11 | D 33 | Aligned down |
| IEF/LQD | 3/5 | 1/5 | mixed | below/falling | below/rising | B 67 | B 67 | D 22 | Rally in downtrend |
| BSV | 0/5 | 1/5 | mixed | below/rising | below/falling | F 0 | F 11 | D 22 | Aligned down |
| LQD | 0/5 | 1/5 | mixed | below/falling | below/falling | F 0 | F 11 | F 11 | Aligned down |
| BKLN | 1/5 ↗ | 0/5 | mixed | below/falling | below/falling | D 33 | D 22 | F 0 | Aligned down |
| AGG/SPY | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| BIL/SPYG | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| FXY/SPY | 0/5 | 0/5 | BEAR | below/falling | below/falling | D 33 | F 0 | F 0 | Aligned down |
| IEF/SPYG | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| SHV/SPY | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 11 | F 0 | F 0 | Aligned down |
| SHY/SPYG | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| SPLV/SPY | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| XLP/SPY | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| XLP/XLK | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| TRJEFFCRB/SPX | Unsupported by design — manual TradingView chart | ||||||||
| 3 GROWTH LEADERSHIP · 17 symbols | |||||||||
| Growth leadership — high score = the growth/tech numerator leading the broad market or value. | |||||||||
| FTEC/IWF | 5/5 ↗ | 5/5 ↗ | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| NDX/SPX | 5/5 ↗ | 5/5 | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| QQQ/SPY | 5/5 ↗ | 5/5 | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| QTEC/RSP | 5/5 ↗ | 5/5 | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| SMH/SPY | 5/5 ↗ | 5/5 ↗ | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| VGT/SPY | 5/5 ↗ | 5/5 ↗ | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| XLK/RSP | 5/5 ↗ | 5/5 ↗ | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| XLK/SPY | 5/5 ↗ | 5/5 | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| AIQ/SPY | 5/5 ↗ | 5/5 ↗ | mixed | above/rising | above/rising | A 100 | A 89 | A 100 | Aligned up |
| ONEQ/SPY | 5/5 ↗ | 5/5 | mixed | above/rising | above/rising | A 100 | A 89 | A 100 | Aligned up |
| QQQ/VTV | 5/5 ↗ | 5/5 ↗ | mixed | above/rising | above/rising | A 100 | A 89 | A 100 | Aligned up |
| SPYG/SPY | 5/5 ↗ | 5/5 ↗ | mixed | above/rising | above/rising | A 100 | A 89 | A 100 | Aligned up |
| MGK/RSP | 5/5 ↗ | 4/5 ↗ | BULL | above/rising | above/rising | A 100 | A 100 | A 89 | Aligned up |
| SCHG/SPY | 4/5 ↗ | 4/5 | mixed | above/rising | above/rising | A 100 | B 67 | A 89 | Aligned up |
| VUG/VTV | 4/5 ↗ | 4/5 ↗ | mixed | above/rising | above/rising | A 100 | B 67 | A 89 | Aligned up |
| IWF/IWD | 2/5 ↗ | 3/5 | mixed | above/rising | above/rising | A 100 | D 33 | B 78 | Mixed |
| DTCR/SPY | 1/5 | n/a | mixed | above/rising | above/falling | F 0 | D 33 | n/a | n/a |
| 4 BREADTH & ROTATION · 17 symbols | |||||||||
| Breadth & rotation — high score = equal-weight, small caps, cyclicals, value or dividend stocks leading cap-weight SPY or tech (broadening); XLF on its own: high score = financials trending up. | |||||||||
| XLF | 4/5 | 5/5 ↗ | mixed | above/rising | above/rising | F 0 | B 67 | A 100 | Pullback in uptrend |
| ITA/SPY | 0/5 | 4/5 | mixed | below/rising | below/rising | F 0 | F 11 | B 67 | Pullback in uptrend |
| PAVE/SPY | 0/5 | 2/5 | mixed | below/rising | above/rising | F 11 | F 11 | C 56 | Mixed |
| XLC/SPY | 0/5 | 1/5 | mixed | below/rising | below/falling | F 11 | F 11 | D 22 | Aligned down |
| IWM/SPY | 1/5 | 1/5 ↗ | mixed | below/falling | below/falling | F 11 | D 33 | F 11 | Aligned down |
| XLE/XLK | 0/5 | 0/5 | mixed | below/falling | below/rising | F 0 | D 22 | F 11 | Aligned down |
| IJK/SPY | 1/5 | 0/5 ↗ | mixed | below/falling | below/falling | F 11 | D 33 | F 0 | Aligned down |
| IJR/SPY | 1/5 | 0/5 ↗ | mixed | below/falling | below/falling | F 11 | D 33 | F 0 | Aligned down |
| XLF/SPY | 1/5 | 0/5 | mixed | below/falling | below/falling | F 0 | D 22 | F 0 | Aligned down |
| XLI/SPYG | 0/5 | 0/5 | mixed | below/falling | below/falling | F 0 | F 11 | F 0 | Aligned down |
| RSP/SPY | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| RSP/XLK | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| SDY/SPY | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| SPYV/SPY | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| XLB/SPY | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| XLF/XLK | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| XLI/XLK | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| 5 FOREIGN · 11 symbols | |||||||||
| Foreign — high score = the foreign market leading the US (SPY or XLK); exception XLK/SPDW, where high score = US tech leading developed ex-US. | |||||||||
| XLK/SPDW | 5/5 ↗ | 5/5 ↗ | BULL | above/rising | above/rising | A 100 | A 100 | A 100 | Aligned up |
| DXJ/SPY | 3/5 ↗ | 5/5 ↗ | BULL | above/rising | above/rising | A 100 | B 78 | A 100 | Aligned up |
| EWY/SPY | 4/5 ↗ | 5/5 ↗ | mixed | above/rising | above/rising | A 100 | B 78 | A 100 | Aligned up |
| EUFN/SPY | 1/5 | 5/5 | mixed | above/rising | above/rising | F 0 | D 33 | A 100 | Pullback in uptrend |
| EWP/SPY | 1/5 | 5/5 | mixed | above/rising | above/rising | F 0 | D 33 | A 100 | Pullback in uptrend |
| EWI/SPY | 0/5 | 5/5 | mixed | above/rising | above/falling | F 0 | D 22 | A 89 | Pullback in uptrend |
| EMXC/SPY | 4/5 ↗ | 4/5 ↗ | mixed | above/rising | above/falling | A 89 | B 78 | B 78 | Aligned up |
| FNDF/SPY | 1/5 | 4/5 ↗ | mixed | above/falling | below/falling | F 0 | D 33 | C 56 | Mixed |
| ACWX/SPY | 0/5 | 2/5 | mixed | below/falling | below/falling | F 0 | D 22 | D 22 | Aligned down |
| EFA/SPY | 0/5 | 1/5 | mixed | below/falling | below/falling | F 0 | F 11 | F 11 | Aligned down |
| ACWX/XLK | 0/5 | 0/5 | BEAR | below/falling | below/falling | F 0 | F 0 | F 0 | Aligned down |
| 6 REAL ASSETS · 10 symbols | |||||||||
| Real assets — high score = the commodity or miner trending up, or leading stocks; Copper/Gold and Crude/Gold high = the industrial commodity leading gold. | |||||||||
| Crude | 2/5 | 5/5 | mixed | above/rising | above/rising | B 67 | C 56 | A 100 | Mixed |
| GDX | 2/5 ↗ | 5/5 | mixed | above/rising | above/rising | D 33 | C 44 | A 100 | Pullback in uptrend |
| GLD | 0/5 ↗ | 5/5 | mixed | above/rising | above/rising | D 22 | D 22 | A 100 | Pullback in uptrend |
| GLD/SPY | 0/5 | 4/5 | mixed | above/rising | above/rising | F 0 | F 11 | A 89 | Pullback in uptrend |
| Gold/SPX | 0/5 | 4/5 | mixed | above/rising | above/rising | D 22 | F 11 | A 89 | Pullback in uptrend |
| XME/SPY | 0/5 ↗ | 4/5 | mixed | above/rising | above/rising | D 22 | F 11 | A 89 | Pullback in uptrend |
| SLV | 0/5 ↗ | 3/5 | mixed | above/rising | above/rising | D 33 | D 22 | B 78 | Pullback in uptrend |
| URA/SPY | 0/5 ↗ | 3/5 | mixed | below/rising | below/rising | F 0 | F 11 | C 56 | Mixed |
| Copper/Gold | 5/5 ↗ | 1/5 | mixed | below/falling | below/falling | B 78 | A 89 | F 11 | Rally in downtrend |
| Crude/Gold | 5/5 | 1/5 | mixed | below/falling | below/falling | A 89 | A 89 | F 11 | Rally in downtrend |
Details — regime panel, full changes list (28) and legend
Regime panel
| Regime panel | Cloud W / count | Cloud M | Detail |
|---|---|---|---|
| Risk-off pressure · 0 of 6 scored at weekly ≥ 3/5 — none · last week 0 of 6 | |||
| BIL/SPYG | 0/5 | — | not counted (< 3/5) |
| SHY/SPYG | 0/5 | — | not counted (< 3/5) |
| IEF/SPYG | 0/5 | — | not counted (< 3/5) |
| XLP/XLK | 0/5 | — | not counted (< 3/5) |
| SPLV/SPY | 0/5 | — | not counted (< 3/5) |
| AGG/SPY | 0/5 | — | not counted (< 3/5) |
| Growth leadership · 13 of 17 scored ratios in 3 GROWTH LEADERSHIP at weekly 5/5 · last week 9 of 17 | |||
| Breadth | |||
| RSP/SPY | 0/5 | 0/5 | — |
| IWM/SPY | 1/5 | 1/5 ↗ | — |
| IJR/SPY | 1/5 | 0/5 ↗ | — |
| Credit | |||
| JNK/IEF | 5/5 ↗ | 5/5 | 200-wk above/rising |
| JNK | 0/5 | 2/5 | 200-wk below/rising |
| BKLN | 1/5 ↗ | 0/5 | 200-wk below/falling |
| LQD | 0/5 | 1/5 | 200-wk below/falling |
| Rates | |||
| US10Y | 5/5 ↗ | 5/5 ↗ | — |
| IEF | 0/5 | 0/5 | — |
Changes vs last week
| Symbol | Change |
|---|---|
| Changes vs last week (Friday 2026-09-25) · 28 items | |
| IEI | Long grade: D 22 → F 11 |
| BKLN | Medium grade: C 44 → D 22 |
| IEF/LQD | Cloud M: 0/5 → 1/5 (out of 0/5) |
| IEF/LQD | Medium grade: C 56 → B 67 |
| IEF/LQD | Long grade: F 0 → D 22 |
| QQQ/SPY | Cloud W: 4/5 → 5/5 (into 5/5) |
| QQQ/VTV | Cloud W: 3/5 → 5/5 (into 5/5) |
| QQQ/VTV | Medium grade: B 67 → A 89 |
| NDX/SPX | Cloud W: 4/5 → 5/5 (into 5/5) |
| MGK/RSP | Stack W: mixed → BULL |
| AIQ/SPY | Cloud W: 3/5 → 5/5 (into 5/5) |
| AIQ/SPY | Medium grade: B 67 → A 89 |
| DTCR/SPY | Medium grade: C 44 → D 33 |
| VUG/VTV | Medium grade: C 56 → B 67 |
| XLF | Cloud W: 5/5 → 4/5 (out of 5/5) |
| XLF | Medium grade: A 89 → B 67 |
| EUFN/SPY | Medium grade: B 67 → D 33 |
| EWP/SPY | Medium grade: C 56 → D 33 |
| EWI/SPY | Cloud W: 1/5 → 0/5 (into 0/5) |
| FNDF/SPY | Medium grade: C 44 → D 33 |
| FNDF/SPY | Long grade: B 67 → C 56 |
| Crude/Gold | Cloud W: 4/5 → 5/5 (into 5/5) |
| Crude/Gold | Cloud M: 0/5 → 1/5 (out of 0/5) |
| Crude/Gold | Medium grade: B 78 → A 89 |
| Crude | Cloud M: 4/5 → 5/5 (into 5/5) |
| Crude | Medium grade: B 67 → C 56 |
| XME/SPY | Medium grade: D 22 → F 11 |
| SLV | Long grade: A 89 → B 78 |
Legend
Summary — headline
Five fixed tests on scored rows only; an unscored input shows n/a. Risk: risk-off ratios at weekly 3/5 or better — 0–1 Risk-on, 2–3 Cautious, 4 or more Risk-off (raw counts, not rescaled when some are unscored). Leadership: Growth-led when at least half of the scored Growth leadership ratios are at weekly 5/5, otherwise Leadership mixed. Breadth: RSP/SPY weekly 1/5 or less Narrow, 4/5 or more Broad, otherwise neutral. Credit: JNK/IEF weekly 1/5 or less weak, 4/5 or more strong, otherwise neutral (JNK/IEF high = high-yield leading Treasuries, credit spreads tightening). Rates: US10Y weekly 4/5 or more adds Yields rising, 1/5 or less adds Yields falling, otherwise nothing. Top changes: 5/5 and 0/5 crossings (weekly first), then Long grade, Medium grade, stack changes and 200-week flips; bigger moves first, then watchlist order.
Risk-on tilt · History
Counted sections: Regime, Fear gauges, Growth leadership, Breadth & rotation. Fear gauges count Aligned down as risk-on and Aligned up as risk-off, except JNK/IEF (Aligned up = risk-on); the other counted sections the reverse, with VIX inverted and the rates rows (US10Y, IEF, IEI) excluded. Pullback in uptrend, Rally in downtrend and Mixed count as mixed; n/a is shown apart. Foreign and Real assets show their alignment counts only and are not in the totals. History re-scores each of the last 26 Fridays from this week's data with the same cut-off used for Changes; a week with a published board is read from its reissued scores (out_v3/) first, else its published scores (Credit n/a if that file has no JNK/IEF row).
Cloud W / Cloud M — n/5 ↗
Ichimoku 5-box score on weekly and monthly bars: Tenkan above Kijun, close above Kijun, close above the close 25 bars earlier (the 26th bar counting the current one), Span A above Span B, close above the cloud. ↗ marks a rising cloud. Scores are for the numerator: 0/5 on A/B is 5/5 for B/A.
Stack W — BULL · BEAR · mixed
Weekly moving averages 20/50/75/110/200/250/300 (200 is an EMA). BULL: fully ordered, all rising, close above every average. BEAR: the mirror image. Anything else is mixed.
200-wk / 300-wk
Close above or below the 200- and 300-week simple average, and whether that average is rising or falling over four weeks. n/a means not enough history.
Regime panel
Risk-off pressure: how many of BIL/SPYG, SHY/SPYG, IEF/SPYG, XLP/XLK, SPLV/SPY and AGG/SPY score 3/5 or more on the weekly cloud; an unscored ratio is shown as UNAVAILABLE and the count is out of the scored ones. Growth leadership: how many scored Growth Leadership ratios are at weekly 5/5. Breadth, credit and rates repeat the board's own scores for RSP/SPY, IWM/SPY, IJR/SPY; JNK/IEF, JNK, BKLN, LQD (with the 200-week state); US10Y and IEF. Alignment is counted per section in the Summary.
Changes vs last week
Every symbol is re-scored from the same data cut at the prior Friday close, then compared with this week. Listed: weekly or monthly scores moving into or out of 5/5 or 0/5, weekly stack changes, 200-week above/below flips, and Medium or Long letter-grade changes (Short grades are shown on the board but not listed as changes). The monthly comparison uses the monthly bar as it stood at each Friday.
Short · Medium · Long — grades v1 (2026-09-26)
Each horizon adds cloud (0–5) + stack (0–2) + trend (0–2) = 0–9 points, shown as points × 100 ÷ 9 rounded to a whole number, and a letter: A 80+, B 60–79, C 40–59, D 20–39, F under 20. Short: daily cloud; 8/20/50-day stack (BULL 2, mixed 1, BEAR 0, same rule as the weekly stack); close above the 50-day average +1; 50-day average higher than 5 days earlier +1; daily bars end at the Friday close. Medium: weekly cloud; weekly stack (BULL 2, mixed 1, BEAR 0); close above the 50-week average +1; 50-week average higher than 4 weeks earlier +1. Long: monthly cloud; above the 200-week average +1, 200-week rising +1; above the 300-week average +1, 300-week rising +1. n/a: not enough history for a part, never estimated. Rows in each section are sorted by Long, then Medium, then name.
Alignment
Checked in this order, first match wins: Aligned up — all three grades 60 or more; Aligned down — all three 40 or less; Pullback in uptrend — Long 60+ and Short 40 or less; Rally in downtrend — Long 40 or less and Short 60+; otherwise Mixed. n/a if any horizon is n/a.
Colour
One six-step scale, dark to light: 0/5 red, 1/5 orange, 2/5 burnt orange, 3/5 grey, 4/5 teal, 5/5 green. Letters: F red, D orange, C grey, B teal, A green. Stack: BEAR red, mixed grey, BULL green. Lightness rises with each step so the order survives greyscale and colour-blind viewing; the text in every cell carries the value on its own.
Display names
Exchange prefixes are dropped (XLK/SPY, SPX, US10Y); futures and spot gold use plain names (Copper/Gold, Crude/Gold, Crude, Gold/SPX). Hover a row for the full TradingView symbol; the scores JSON keeps it. Each section opens with a one-line reading key: what a high score means there.
Unsupported by design: the chart is followed manually in TradingView because its data is not available from the scorer's source; it is not an error. — no data: the symbol could not be scored this week and is shown as unavailable, never estimated. Colour repeats the text in each cell and is never the only signal. Scores, states and grades only; no prices are published.
Method note
Ratio universe and Ichimoku 5-box scoring adapted from techniques Chris Ciovacco (Ciovacco Capital) has demonstrated publicly. Independent implementation, not affiliated.
History — 26-week panel strip
Rows marked reconstructed are reconstructed from current data (not the published record). “This board” is the current week; “published” rows are derived from that week's published scores JSON, “published (…)” rows from a reissued one. Precedence: each earlier week is read from a reissued scores JSON if one exists (out_v3/), otherwise from the published scores JSON in the output folder, otherwise reconstructed from current data.
| Week ending | Source | Risk-off (of scored) | Growth 5/5 (of scored) | RSP/SPY W | JNK/IEF W | Headline |
|---|---|---|---|---|---|---|
| 2026-10-02 | this board | 0 of 6 | 13 of 17 | 0/5 | 5/5 | Risk-on · Growth-led · Narrow breadth · Credit strong · Yields rising |
| 2026-09-25 | published (v3 reissue) | 0 of 6 | 9 of 17 | 0/5 | 5/5 | Risk-on · Growth-led · Narrow breadth · Credit strong · Yields rising |
| 2026-09-18 | reconstructed | 0 of 6 | 8 of 17 | 2/5 | 5/5 | Risk-on · Leadership mixed · Breadth neutral · Credit strong · Yields rising |
| 2026-09-11 | reconstructed | 0 of 6 | 7 of 17 | 2/5 | 5/5 | Risk-on · Leadership mixed · Breadth neutral · Credit strong · Yields rising |
| 2026-09-04 | reconstructed | 0 of 6 | 7 of 17 | 2/5 | 5/5 | Risk-on · Leadership mixed · Breadth neutral · Credit strong · Yields rising |
| 2026-08-28 | reconstructed | 0 of 6 | 7 of 17 | 3/5 | 5/5 | Risk-on · Leadership mixed · Breadth neutral · Credit strong · Yields rising |
| 2026-08-21 | reconstructed | 0 of 6 | 8 of 17 | 3/5 | 5/5 | Risk-on · Leadership mixed · Breadth neutral · Credit strong · Yields rising |
| 2026-08-14 | reconstructed | 0 of 6 | 12 of 17 | 3/5 | 5/5 | Risk-on · Growth-led · Breadth neutral · Credit strong · Yields rising |
| 2026-08-07 | reconstructed | 0 of 6 | 10 of 17 | 2/5 | 5/5 | Risk-on · Growth-led · Breadth neutral · Credit strong · Yields rising |
| 2026-07-31 | reconstructed | 0 of 6 | 6 of 17 | 1/5 | 5/5 | Risk-on · Leadership mixed · Narrow breadth · Credit strong · Yields rising |
| 2026-07-24 | reconstructed | 0 of 6 | 6 of 17 | 2/5 | 5/5 | Risk-on · Leadership mixed · Breadth neutral · Credit strong · Yields rising |
| 2026-07-17 | reconstructed | 0 of 6 | 7 of 17 | 1/5 | 5/5 | Risk-on · Leadership mixed · Narrow breadth · Credit strong · Yields rising |
| 2026-07-10 | reconstructed | 0 of 6 | 13 of 17 | 0/5 | 5/5 | Risk-on · Growth-led · Narrow breadth · Credit strong · Yields rising |
| 2026-07-03 | reconstructed | 0 of 6 | 13 of 17 | 2/5 | 5/5 | Risk-on · Growth-led · Breadth neutral · Credit strong · Yields rising |
| 2026-06-26 | reconstructed | 0 of 6 | 12 of 17 | 2/5 | 5/5 | Risk-on · Growth-led · Breadth neutral · Credit strong · Yields rising |
| 2026-06-19 | reconstructed | 0 of 6 | 13 of 17 | 1/5 | 5/5 | Risk-on · Growth-led · Narrow breadth · Credit strong · Yields rising |
| 2026-06-12 | reconstructed | 0 of 6 | 13 of 17 | 1/5 | 5/5 | Risk-on · Growth-led · Narrow breadth · Credit strong · Yields rising |
| 2026-06-05 | reconstructed | 0 of 6 | 13 of 17 | 0/5 | 5/5 | Risk-on · Growth-led · Narrow breadth · Credit strong · Yields rising |
| 2026-05-29 | reconstructed | 0 of 6 | 9 of 17 | 0/5 | 5/5 | Risk-on · Growth-led · Narrow breadth · Credit strong · Yields rising |
| 2026-05-22 | reconstructed | 0 of 6 | 9 of 17 | 0/5 | 5/5 | Risk-on · Growth-led · Narrow breadth · Credit strong · Yields rising |
| 2026-05-15 | reconstructed | 0 of 6 | 9 of 17 | 0/5 | 4/5 | Risk-on · Growth-led · Narrow breadth · Credit strong · Yields rising |
| 2026-05-08 | reconstructed | 0 of 6 | 9 of 17 | 0/5 | 3/5 | Risk-on · Growth-led · Narrow breadth · Credit neutral · Yields rising |
| 2026-05-01 | reconstructed | 0 of 6 | 7 of 17 | 2/5 | 3/5 | Risk-on · Leadership mixed · Breadth neutral · Credit neutral · Yields rising |
| 2026-04-24 | reconstructed | 0 of 6 | 7 of 17 | 2/5 | 3/5 | Risk-on · Leadership mixed · Breadth neutral · Credit neutral |
| 2026-04-17 | reconstructed | 0 of 6 | 3 of 17 | 2/5 | 3/5 | Risk-on · Leadership mixed · Breadth neutral · Credit neutral |
| 2026-04-10 | reconstructed | 1 of 6 | 3 of 17 | 3/5 | 4/5 | Risk-on · Leadership mixed · Breadth neutral · Credit strong |