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

Inflation-Sensitive Defensive Tape

Internal Market Health
59/100 Mixed
Regime Momentum
23/100 Weakening
Risk-on appetite
70/100 MEDIUM confidence
Defensive demand
74/100 MEDIUM confidence
Growth leadership
57/100 LOW confidence
Momentum leadership
32/100 MEDIUM confidence
Credit risk appetite
45/100 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 defensive demand is rising meaningfully versus recent runs persists.

Published September 2, 2026
Read latest snapshot → View archive →

Weekly economy

What is changing beneath the market?

Current reading

Goldilocks

Confidence
High
Growth
74.3 Expanding
Labor
71.8 Tight
Inflation Pressure
35.9 Disinflationary
Credit
83.4 Loose
Liquidity
60.4 Neutral

What changed

  • In the latest week, the growth score remained broadly stable, while the labor score improved by 1.6 points.
  • The inflation pressure score was stable, and credit conditions improved by 2.3 points.
  • Liquidity conditions also saw a 1.6-point improvement, indicating a supportive environment overall.
Confirmation

The current market regime is classified as Mixed / Transitional, while the economic regime is Goldilocks. The alignment between the market and economic regimes…

Divergence

Market/economy divergence risk: Low.

Watch next

Monitor growth momentum for further signs of deterioration.

Published August 31, 2026
Read latest snapshot → View archive →

Monthly factors

What characteristics are being rewarded?

Current reading

Mixed / Transitional

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

Mixed / Transitional 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 June 2026 Data through June 30, 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 →