Breadth and squeeze radar

BREADTH, S&P 500 participation

The BREADTH panel plots the percentage of S&P 500 stocks trading above their 50-day and 200-day moving averages, overlaid with SPX price. Three views are available: combined (breadth + price together), breadth-only, and a divergence view that z-scores breadth against price to highlight regime shifts. It pulls from the equities-side data, not the crypto universe — it's a macro participation read, not a coin-by-coin one.

• Above 70% of stocks above their MA, most of the index is participating in the rally. Healthy tape; the move is broad-based.
• 40% to 60%, split market. The mega-caps might be making highs while the rest of the index drifts. Rotation tape.
• Below 30%, most of the index is below its MA. Either a broad sell-off or a narrow rally where only a few names are pulling weight.

Crypto trades the equity tape closely on macro days, so a narrowing-breadth print on SPX is one of the earliest warning lights for a crypto risk-off rotation. Pair BREADTH with VIX and HY OAS in the macro section for the full equity-stress picture.

SQUEEZE, compression-spring radar

The SQUEEZE panel scans the universe for coins that look "loaded" right now. The score is a 0–100 composite of three regime z-scores at the same interval and lookback:

• OI loading — built from the OI z-score; high when positioning is rising.
• Vol quietness — built from the price-return z-score; high when the tape is rangebound.
• Funding neutrality — built from the funding z-score; high when carry is flat.

A high composite means OI is rising (rope getting loaded) while price is quiet and funding is flat — the textbook coiled spring before a move. Each leg is shown alongside the composite so you can see which one is doing the work. All three components come from /api/markets/regime/latest, so you can pick the lookback (24h to 1y) and interval (1h or 1d) and the panel re-ranks.

Use as a daily screen for setups. A coin appearing on the squeeze list isn't a trade signal; it's a flag to go look at the chart, OI, and funding to decide whether the breakout side has a thesis.

Pairing the two

BREADTH gives you the equity-tape regime (risk-on vs risk-off); SQUEEZE gives you the crypto names that are coiled. A broad-rally equity tape (high SPX breadth) with several coins on the squeeze list is the cleanest setup environment, the macro wind is at your back and there are specific crypto names primed to break. The opposite tape (deteriorating equity breadth + few crypto squeezes) is when most discretionary trades fail; size down or wait.