The Market Fieldbook

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The Market Fieldbook

Current market field notes

The Market Fieldbook

The latest readings across markets, the economy, factor leadership, and company fundamentals.

Get the Daily Fieldnotes → Jump to Today's Fieldnotes → Browse the Company Scorebook →

Quick start

Invest with a repeatable process.

Use the Fieldbook to move from the market environment to individual company research without treating any single score or signal as a recommendation.

  1. 1

    Follow the recurring Fieldnotes.

    Read the daily market, weekly economic, and monthly factor snapshots together.

    Get the Fieldnotes →
  2. 2

    Find companies worth your attention.

    Use the Company Scorebook to narrow a large universe into a focused research queue.

    Browse the Company Scorebook →
  3. 3

    Research, form a thesis, and monitor it.

    Investigate the business, define what must remain true, and revisit the evidence as it changes.

    See the research process →

Latest readings

Three horizons. One research record.

Daily market behavior, weekly economic conditions, and monthly factor leadership are read together rather than as isolated signals.

Daily market

What is the market doing now?

Current reading

Mixed / Transitional

Internal Market Health
68/100 Stable
Regime Momentum
60/100 Stable
Risk-on appetite
73/100 MEDIUM confidence
Defensive demand
52/100 LOW confidence
Growth leadership
19/100 HIGH confidence
Momentum leadership
18/100 HIGH confidence
Credit risk appetite
64/100 LOW confidence

What changed

  • One snapshot can be noisy.
  • A move becomes more meaningful when it continues across several readings or is confirmed by other measures.
Confirmation

Credit continues to confirm risk appetite and volatility remains contained.

Watch next

Watch whether current regime structure remains broadly consistent with recent runs persists.

Published July 29, 2026
Read latest snapshot → View archive →

Weekly economy

What is changing beneath the market?

Current reading

Expansionary

Confidence
High
Growth
75 Expanding
Labor
78 Tight
Inflation Pressure
44 Moderate / Watch
Credit
85 Loose
Liquidity
71 Supportive

What changed

  • the labor score improved by 9.1 points, indicating firmer labor conditions.
  • Growth, inflation pressure, and credit scores remained broadly stable.
  • Liquidity conditions also saw an improvement of 6.1 points, contributing to the supportive economic environment.
Confirmation

The current market regime is classified as Inflation-Sensitive Defensive Tape, which indicates a cautious market stance despite the supportive economic backdrop. This divergence suggests…

Divergence

Market/economy divergence risk: Moderate.

Watch next

Updates on inflation metrics and their impact on consumer behavior.

Published July 27, 2026
Read latest snapshot → View archive →

Monthly factors

What characteristics are being rewarded?

Current reading

Broad Risk-On

Mkt-RF
+6.1% Positive across all four displayed horizons.
RMW
-8.8% Negative across all four displayed horizons.
Momentum
+3.7% Positive across all four displayed horizons.
Long-Term Reversal
+5.5% Positive across all four displayed horizons.

What changed

  • Positive across all horizons: Mkt-RF, Momentum, Long-Term Reversal.
  • Negative across all horizons: RMW.
  • Mixed across horizons: SMB, HML, CMA, Short-Term Reversal.
Confirmation

Broad Risk-On is confirmed by positive market beta and momentum, while profitability remains the main internal weakness.

Divergence

Profitability remains the clearest factor weakness: RMW is negative across every displayed horizon.

Watch next

Monitor the performance of RMW for signs of recovery.

Published May 2026 Data through May 29, 2026
Read latest snapshot → View archive →

The operating cycle

  1. Observe
  2. Screen
  3. Research
  4. Form a thesis
  5. Challenge it
  6. Invest selectively
  7. Monitor and repeat
See how the Fieldbook is used →

Company research

Move from the environment to individual businesses.

The Company Scorebook organizes public companies by business quality, valuation, balance-sheet strength, and market confirmation.

Scores are starting points for investigation—not recommendations, price targets, or substitutes for a defensible thesis.

Explore the Company Scorebook →

See the evidence first. Read the process when you need the explanation.

Learn how to use the Fieldbook → Understand the scoring methodology →