iThe headline
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Index attribution
Awaiting the first confirmed reading.
The engine publishes once per session, on the confirmed 4:00 PM ET close.
- S&P 500 via SPY — Session return
- MAG7 — Contribution, SPX points
- Other 493 — Contribution, SPX points
MAG7 share
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Confirmation
Is the rest of the market agreeing?
What the index shows
What’s underneath
Leadership breadth
— of 7 leading
- Leader
- Accumulation
- Neutral
- Distribution
- Funding
Transmission
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- Broad
- Healthy
- Concentrated
- Fragile
- Broken
How the MAG7’s move is passing through to the index as a whole.
In plain English
What this reading means
iiUnderneath
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iiiWhat to watch
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Descriptive analysis of market structure. It is not a recommendation to buy, sell or hold any security.
Structural diagnostics
Index health instruments
Each reads 0–100. The shaded bands mark where the engine changes its call.
Leadership dynamics
Is leadership spreading or narrowing?
Tripwires
Active conditions
The other 493
Market confirmation detail
How to read these measures
- MAG7 share
- MAG7’s contribution as a share of total index movement, counting both directions. 90% means nearly everything the index did came from seven stocks.
- Driving / Offsetting
- Driving: MAG7 moved with the index. Offsetting: MAG7 pulled against it, and the rest of the market moved the index anyway.
- Healthy leadership
- How many of the seven are in Leader or Accumulation state. Fewer leaders carrying a big share means a narrower, more fragile advance.
- SPX Health
- Composite measure of internal support beneath the index. Higher is healthier; below 50 is fragile, below 30 broken.
- Index Risk
- Aggregate structural exposure the index is carrying. Higher means more of its level depends on a narrow base.
- Structural risk
- Concentration and dependency inside the leadership set.
- Divergence risk
- How far price and leadership internals disagree. At 60 and above the engine treats transmission as broken.
- Funding pressure
- Capital being rotated out of some constituents to pay for positions in others.
- Leadership diffusion (LDI)
- Whether leadership is spreading across the seven or narrowing. Negative means narrowing.
- Ex-MAG7 breadth
- Share of the other 493 S&P stocks that advanced. Near or below 50% while the index rises is a sign the move is not broadly confirmed.
- Cap vs equal weight
- Equal-weight return minus cap-weight return. Positive means the average stock did better than the index; negative means mega-caps carried it.
Constituent rotation
The seven, ranked by leadership score
| # | Ticker | Score | State | 5-day Δ | 20-day Δ | Rank Δ | Bars | Velocity | Flow | Risk |
|---|
Score is the engine’s 0–100 leadership reading. Bars counts consecutive sessions in the current state. Velocity is the rate of change of score.
Engine events
What the engine has called, newest first
- Strengthening
- Watch
- Risk
- Rotation
Normalized state
GET /api/mags-lre/latest
—Endpoints
Read-only API
- GET /api/mags-lre/latest
- Current normalized dashboard state.
- GET /api/mags-lre/events?limit=25
- Event history, newest first. Limit 1–500.
- GET /api/mags-lre/stream
- Server-sent events; pushes on every accepted alert.
- GET /api/mags-lre/health
- Store backend, last update, connected clients.