CARP is Ruinous and NBI is Ruinous. Both valuation measures are elevated on their 0-100 scales.
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Market regime at a glance
These are separate measures, not a hidden composite score. Read agreement and disagreement across the lenses as context, then open each indicator for its methodology, history, and limitations.
MEI is Euphoria at 90/100. This describes the current sentiment regime, not a forecast of the next market move.
TCIB is Normal Curve at 0/100. It describes how broadly the core Treasury curve is inverted, while MCI's current broad-macro reading remains subscriber-only.
Compare the five indicator lenses
The latest-change column compares each public benchmark with its immediately preceding normalized observation. It describes movement in the indicator score, not a predicted market return.
| Lens | Indicator | Question | Current | Regime | What changed? |
|---|---|---|---|---|---|
| Valuation | CARPCyclically Adjusted Risk Premium | How attractive are U.S. stocks relative to long-term Treasury yields? | 100/100 | Ruinous | Unchangedsince Sep 24, 2026 |
| Valuation | NBINormalized Buffett Indicator | How expensive is the U.S. stock market after accounting for changing profit margins? | 87/100 | Ruinous | Unchangedsince Sep 24, 2026 |
| Sentiment | MEIMarket Euphoria Index | How euphoric or fearful are U.S. market conditions right now? | 90/100 | Euphoria | +1 pointssince Sep 24, 2026 |
| Macroeconomic | MCIMacroeconomic Conditions Index | How strong or weak are broad U.S. macroeconomic conditions? | Unavailable | Subscriber-only | Subscriber-only |
| Macroeconomic | TCIBTreasury Curve Inversion Breadth Index | How broadly is the U.S. Treasury yield curve inverted across short, intermediate, and long maturities? | 0/100 | Normal Curve | Unchangedsince Sep 24, 2026 |
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Indicators answer market-level questions. Use the adjacent research products when you need underlying studies, company-level evidence, or systematic-model context.
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