Feature · Market regime
Market Regime Indicator — VIX, Advancers, Rates
Every individual scoring decision is downstream of the macro state. Tapeline's regime label is set by one input: the VIX, against four fixed thresholds — below 15 BULL (risk on), 15–20 NEUTRAL, 20–25 CAUTIOUS, 25 and above BEAR (risk off). We publish the other macro figures we track next to it — advancers today, rate direction (10Y yield slope from FRED), and short-window SPY momentum — and we tell you plainly that they are context, not inputs. The Fear & Greed dial is the number here that does blend all four into the familiar 0–100 sentiment scale.
Current regime
CachedNEUTRAL
Set by the VIX against four fixed thresholds. The VIX input is a daily close, so the label changes at most about once a day.
Highest-scoring sectors (our composite)
Energy, Healthcare, Materials
Fear & Greed
Blended from VIX, advancers today, the regime label, and 5-day SPY momentum. The composite maps to 0–24 Extreme Fear, 25–44 Fear, 45–54 Neutral, 55–74 Greed, 75–100 Extreme Greed.
Cached snapshot — can be an hour old or more. The in-app regime panel shows the latest reading when you open it, with the Fear & Greed dial and full component-score breakdown.
How the regime is computed
Two different things share this page. The regime labelis not a composite: it is the VIX read against four fixed thresholds — below 15 BULL, 15–20 NEUTRAL, 20–25 CAUTIOUS, 25 and above BEAR — and nothing else. When our macro workbook publishes an explicit market-mode read, that read is written last and supersedes the ladder.
The Fear & Greed score is the composite. Four inputs, leaning most on the volatility and advancer readings: VIX (lower = greed), advancers today (more of the moving names closing up = greed), the regime label itself, and 5-day SPY momentum (positive = greed). Because the label is VIX-derived, that third term partly re-weights VIX rather than adding an independent input. The composite maps to 0–24 Extreme Fear, 25–44 Fear, 45–54 Neutral, 55–74 Greed, 75–100 Extreme Greed— matches the labels CNN’s familiar version uses so anyone who’s seen one before can read it instantly.
Because the ladder is VIX-only, the label can disagree with the other figures on this page — a calm VIX reads Risk On even on a day when most moving names fell. We show both rather than reconciling them behind the scenes. Most days land in Neutral or Cautious.
The macro figures come from FRED via the free-tier API: VIX (VIXCLS), 10Y yield (DGS10), USD broad index (DTWEXBGS). The advancer count and the sector ranking are computed on each worker pass across the Tapeline universe, from prices delayed about 15 minutes. Full regime panel + Fear & Greed dial at /app/regime.
Common questions
What's the difference between 'Risk On' (BULL) and 'Risk Off' (BEAR)?
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Only the VIX level. BULL is VIX below 15, NEUTRAL is 15–20, CAUTIOUS is 20–25, and BEAR is 25 or above — those four labels are what the app displays. Nothing else moves the label: not the advancer count, not rates, not the sector ranking. We used to describe this as a blend of those inputs; it never was one, and the page now states the thresholds instead.
How is the Fear & Greed score different from CNN's?
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Same labels (Extreme Fear / Fear / Neutral / Greed / Extreme Greed), different inputs. CNN blends seven inputs including put/call ratio, junk bond demand, market momentum, etc. Tapeline uses four: VIX, advancers today, the regime label, and SPY 5d momentum. Two of those four are VIX-derived, since the regime label is itself a VIX threshold read — so our score leans on volatility more than the four-way split suggests. Every component score is visible in the response, so you can audit which input is driving the headline number.
How often does the regime update?
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It is recalculated on each worker pass, about every 60 seconds during US market hours. The underlying FRED series (VIX, 10Y) update once a day at end-of-day, so the regime label only moves when that daily VIX close crosses a threshold. The advancer count and SPY momentum are re-read each pass from prices delayed about 15 minutes, and the Fear & Greed composite recomputes on each pass. This public page is a saved snapshot that can be an hour old or more.
Does the regime change scoring weights?
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No — Tapeline's six factors (Trend, Relative Strength, Fundamentals, Smart Money, Macro, Momentum) and the ordering of their weights are fixed and public. The regime classifier is a separate macro context indicator. What changes per regime isn't the scoring, it's which scores you might pay more attention to: high-momentum names in Risk On, high-quality fundamentals + low-beta names in Risk Off.
What is 'advancers today' exactly?
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Of the names that moved today, the share that closed up: advancers ÷ (advancers + decliners), computed from the Tapeline scoring universe on each worker pass, from prices delayed about 15 minutes. Names with no price read for the day, and names that closed unchanged, are excluded from both sides. It is a same-day advance/decline ratio, so 50% means advancers and decliners were balanced. It is not the percentage of stocks above their 200-day moving average — that is a different measure, and we do not currently publish it. One session's ratio describes that session only; it is not a trend reading.
What tier do I need?
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Market regime is a Pro feature ($8.25/mo billed annually, or $9.99/mo monthly). The 30-day Premium trial includes it. Premium adds recent insider buys (SEC Form 4) on top of everything in Pro.
Pro feature
See this across ~11,500 actively scored tickers.
Included in Pro, and in the 30-day Premium trial from day one.
The record needs no account and no card. The trial takes a card, charges $0 today, and shows the date of the first charge before you confirm. See pricing.
Data refreshes during US market hours. Not investment advice — see risk disclosure.