living reportas of 2026-10-05
The moonstone Spread
the spread+146.8 ptsclosed-print leg minus in-print leg
28-day move-18.4 ptswidening = rotation into closed print
closed-print leg+240.9%161 sets, past 52 weeks
in-print leg+94.2%5 sets, past 52 weeks
The two legs · 52 weeks
indexed to 100 at window startWhat it reads
regime gaugeThe Spread is the platform's regime gauge: when it widens, money is rotating out of product still coming off the presses and into closed print runs: the print-clock thesis in one number. Both legs also render on the homepage chart.
Each tracked set's value history is normalized to 100 at the window start and equal-weighted into two legs by print status: in-print = released under 18 months ago (the provider's real release date), closed = 24 months or older. The 18–24 month band is excluded as ambiguous rather than guessed. The Spread is the closed leg minus the in-print leg, in index points. 452 sets excluded (ambiguous age or thin history).