The Moonstone Spread

Closed-print vs in-print, equal-weight set legs · as of 2026-08-24 · recomputed every Monday

The 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. 35 sets excluded (ambiguous age or thin history).