Liquidity regime
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Regime gauge 0–100 (50 = neutral)
Reading & recommendation
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US Net Liquidity vs. S&P 500
Liquidity regime gauge (0–100)
Does liquidity lead the market? (live validation)
Level co-movement is strong but partly trend-driven; the year-over-year impulse is the leading signal. Short-term (13-week) changes are mostly plumbing noise. The diagnostic backtest is a sanity check, not a strategy.