Net equity supplyNew stock issued minus stock retired (buybacks, etc.).
TTMTrailing Twelve Months = last 4 quarters summed.
SPX backgroundS&P 500 on every chart, own full-height scale.
Key figure · net equity supply (TTM = last 12 months)
TTM = Trailing Twelve Months (sum of the last 4 quarterly net-issuance prints). Below zero = companies retired more stock than they issued.
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loading net supply…
Net equity supply / issuance — each quarter + TTM (year)
Bars = one quarter of net stock issued or retired ($ billions). Line = TTM (last 4 quarters summed ≈ one year). Negative = net buybacks. Hover legend chips for more.
Equity stock — outstanding · corporate-held · open-market · households
Dollar market value in trillions, updated quarterly by the Fed. Not prices of SPY — the SIZE of the equity market and who holds it.
Corporate-held share of outstanding (%)
100 × corporate-held ÷ outstanding. Higher = more equity value on company books.
Stock prices — SPY · QQQ · SPX · NAS100 + stretch tape
Lines = price action (normalized by default). Tape below = heat map of “high or low vs own past.” SPX bg still draws full-height on the chart.
Stretch tape · own-history percentile ·
Structure vs price — open-market · net supply TTM · SPY / NAS100
Fed levels stepped onto daily dates + prices, all on one normalized axis. TTM = last-12-months net equity supply.
PremiseShrinking net supply (net_ttm ↓ = buybacks) usually accompanies RISING prices (SPY/QQQ ↑), and open-market equity value tracks price. SIGNAL = the DEVIATION of price from the net-supply track (rolling correlation + current normalized gap), printed below with its dates — not the raw lines.
computing deviation…
Stretch tape · structure + price vs own history ·
SourcesFed FRED Z.1 + Yahoo prices (SPY, QQQ, SPX, NAS100).