The Market Structure Map
August 19, 2026
Earnings. This is what the stock market is all about. That’s what we’re told all day long by the financial media. And it would be true if just 51% of the money in the market were driven by earnings. With Morningstar data as barometer, about...
August 5, 2026
Very slowly than all at once is how things tend to happen. It seems to be true in the stock market. A Demand/Supply view of Micron (MU), darling of the AI trade, is like that. Run a three-year chart at EDGE, and Demand exploded in...
June 3, 2026
The stock market has gone to the dogs. Well, one of them anyway. Before I get to that (and I’ll correct my deliberate syntactical gaffe – one market, or one dog?), ModernIR has launched a new product designed to track the flows behind price and...
May 27, 2026
Tokens are coming for your stock, public companies. But not yet. According to a Bloomberg article (subscription required) from Scott Patterson, veteran market-structure reporter (long at the WSJ) and author, regulators have delayed a plan to grant exemptions for tokenized stocks. Because there are big...
May 13, 2026
I observed Monday to EDGE Daily Market Desk readers that stocks like CSGP would not be in the S&P 500 basket. And now it’s been booted from the Nasdaq 100. The point for investors is that creators of ETF baskets – statistical samples – for...
May 6, 2026
Warren Buffett last week called the stock market a church with a casino attached to it. AI didn’t know how to interpret it, but he means investing is a hieratic pursuit. A commitment. Somber and serious. A casino is like a brothel – about self-gratification....