The macro backdrop is broadly neutral: the DXY supports risk appetite despite a small uptick in MOVE, and the 2s10s curve remains in place with stable real yields.
However, equities are showing a local risk-off signal (SPX -0.98%), so the regime stays BALANCED with moderate risk (5/10) and no clear trend edge.
If you want to understand these regimes, start here: substack.com@adlerscryptoinsights/note/c-183460426?utm_source=notes-share-action&r=46gt68โฆ