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The Distance Index
Today the average S&P 500 stock sits
—
from its 200-week mean.
Lower is tauter — more names crowding their long-term lines, more signals coming. Higher is stretched — fewer signals, more risk above.
Distance Index
20Y median
Today
— twenty years of one number
How to read it
— Tight
Below the median
The market is closer to its long-term mean than usual. More names are within range of a touch. Signal-rich.
— Average
Near the median
A normal regime. Nothing forced; nothing screaming. Watch your individual lines, not the index.
— Stretched
Above the median
Most names are far above their 200-week lines. The strategy is patient by design — the cohort to buy is thin.