[ Macro Regime ]
Institutional capital is flowing into equities and credit.
Occurrences
22
Avg Score
+33
Score Range
+21 / +50
Last Seen
Sep 24, 2026
[ What It Means ]
Risk On is the algo's standard bullish signal. It indicates that the balance of intermarket evidence — equity momentum, credit confidence, volatility, and commodity flows — favors risk-seeking behavior. Most of your best trending days occur in this regime.
The macro backdrop supports directional long exposure. SPY is trending above key moving averages. Credit spreads are tightening (HYG outperforming TLT). Volatility is contained. This is the "normal bullish" state where momentum strategies have historically outperformed.
[ Trading Implications ]
[ Historical Context ]
Risk On is the most common bullish regime, appearing in roughly 30-40% of trading sessions. It represents the "default state" of a healthy market tape. Transitions from Neutral to Risk On often signal the start of multi-week trending periods.
[ Key Indicators ]
[ Recent Risk On Sessions ]
[ Frequently Asked Questions ]
Risk On means the algo's intermarket model sees bullish conditions: equity momentum is positive, credit spreads are tight, volatility is contained, and historical K-NN analogs suggest positive forward returns. Trend-following and breakout entries are statistically favored.
Risk On is the standard bullish regime where most (but not all) macro pillars are aligned. Extreme Risk On requires unanimous alignment across all five pillars and typically has higher conviction scores. Risk On is more common; Extreme Risk On is rare.
High-beta sectors like technology (QQQ), consumer discretionary, and small caps (IWM) historically outperform during Risk On. Defensive sectors like utilities and consumer staples (XLP) tend to lag as capital rotates toward growth.
Sign up for the free Macro Bias daily email. You'll receive the algo's regime score every trading day before the bell. Pro subscribers get the full briefing with sector breakdown, model notes, and risk check.
[ Get the Daily Signal ]
Free subscribers get the daily regime score and bottom line summary every trading day. Pro includes the full briefing with sector breakdown, model notes, and risk check.