FREE · ONE NUMBER · UPDATED NIGHTLY · HISTORY TO 2020

The Market Pressure Index

Markets alternate between quiet phases, where price ranges tighten, and active phases, where they expand. The MPI is one number: the share of US stocks currently in the quiet state.

As of the close of July 27, 2026 · 3,594 US common stocks evaluated

025507510059.9%of stocks in quiet compression

Historical mean 46.9% (marked on the dial) · today’s reading sits at the 94th percentile of all readings in ArcAlpha data since Jun 26, 20

New: The Market Breathes — six years of this index, told as a scrolling visual story.
Read it →
Latest reading
59.9%
tight compression: 31.9%
1-day change
+0.7pt
vs prior session
Historical high
71.2%
Jul 9, 20 · in ArcAlpha data
Historical low
20.7%
Jun 30, 22 · in ArcAlpha data

The full history

1,526 sessions · Jun 26, 20 → Jul 27, 26

The gray dashed line is the historical mean. The two white dashed lines are the boundary zones: only 5% of all sessions have closed above the upper line or below the lower one. Low readings have coincided with volatile episodes; high readings with calm markets. Descriptive history, not a forecast.

20%40%60%60.5% · above here in only 5% of sessions31.8% · below here in only 5% of sessions21% · Jun 30, 2271% · Jul 9, 20

The last 90 sessions, day by day

Daily resolution of the same index. The reading typically moves about a point and a half per session, more during regime changes.

20%40%60%60.5% · above here in only 5% of sessions31.8% · below here in only 5% of sessions

The same gauge, sector by sector

Each sector has its own pressure gauge over the same history, with its own boundary lines. Sectors coil and release on their own clocks — a sector can sit at its boundary while the market overall reads mid-range.

Communication Services

59.7% · 93th pctile
25%50%75%61.0% · above here in only 5% of sessions22.9% · below here in only 5% of sessions

Range in ArcAlpha data: 8.8% (Nov 23, 20) to 80.4% (Jul 9, 20) · 62 stocks

Consumer Discretionary

57.4% · 88th pctile
25%50%75%61.5% · above here in only 5% of sessions30.4% · below here in only 5% of sessions

Range in ArcAlpha data: 16.7% (Jun 30, 22) to 76.9% (Jul 8, 20) · 673 stocks

Consumer Staples

69.8% · 99th pctile
25%50%75%63.1% · above here in only 5% of sessions32.1% · below here in only 5% of sessions

Range in ArcAlpha data: 23.8% (Jun 27, 22) to 75.3% (Jul 8, 20) · 86 stocks

Energy

34.8% · 24th pctile
25%50%75%70.4% · above here in only 5% of sessions19.7% · below here in only 5% of sessions

Range in ArcAlpha data: 6.5% (Jul 5, 22) to 89.0% (May 1, 25) · 141 stocks

Financials

68.2% · 93th pctile
25%50%75%69.2% · above here in only 5% of sessions25.6% · below here in only 5% of sessions

Range in ArcAlpha data: 13.7% (Mar 15, 23) to 82.8% (Apr 10, 23) · 759 stocks

Health Care

62.1% · 94th pctile
25%50%75%62.5% · above here in only 5% of sessions34.9% · below here in only 5% of sessions

Range in ArcAlpha data: 23.8% (Dec 6, 21) to 78.0% (Feb 14, 22) · 514 stocks

Industrials

54.0% · 76th pctile
25%50%75%65.0% · above here in only 5% of sessions25.9% · below here in only 5% of sessions

Range in ArcAlpha data: 14.1% (Jun 22, 22) to 81.3% (Jul 9, 20) · 422 stocks

Materials

69.4% · 98th pctile
25%50%75%66.0% · above here in only 5% of sessions23.8% · below here in only 5% of sessions

Range in ArcAlpha data: 13.5% (Jan 27, 26) to 76.7% (Sep 10, 20) · 111 stocks

Real Estate

56.1% · 57th pctile
25%50%75%72.2% · above here in only 5% of sessions21.2% · below here in only 5% of sessions

Range in ArcAlpha data: 6.8% (Sep 27, 22) to 80.6% (Sep 4, 20) · 173 stocks

Technology

56.8% · 88th pctile
25%50%75%62.2% · above here in only 5% of sessions27.6% · below here in only 5% of sessions

Range in ArcAlpha data: 16.5% (May 13, 25) to 72.8% (Mar 30, 21) · 479 stocks

Utilities

68.5% · 94th pctile
25%50%75%69.4% · above here in only 5% of sessions28.9% · below here in only 5% of sessions

Range in ArcAlpha data: 3.8% (Jun 22, 22) to 85.6% (Jul 21, 22) · 146 stocks

White dashed lines mark each sector’s own 5th and 95th percentile of all readings since June 2020. Sector membership follows each company’s GICS classification; sectors with fewer than 40 evaluable stocks on a given day are not scored for that day.

How to read the index

Think of it as market weather instrumentation: a barometer describes the current atmosphere, it does not command tomorrow’s forecast.

High readings

A large share of stocks trading in tight, quiet ranges. Historically these readings have occurred in calm, settled markets.

Mid-range readings

The market’s normal operating zone — a mix of quiet and active names, which is where the index spends most of its time.

Low readings

Few stocks in quiet ranges — historically the signature of volatile episodes, when price ranges expand across the whole market at once.

Methodology

Every night after the US close, ArcAlpha evaluates the recent price range of several thousand US common stocks from split-adjusted end-of-day data and classifies each as being in a quiet compression phase or not. The index is the share of evaluated stocks in the quiet state. ETFs and very small companies are excluded, so the reading reflects investable individual stocks rather than funds. The historical series includes companies that have since delisted, so past readings are not survivorship-skewed.

Transparency note: readings on or before July 16, 2026 were computed retrospectively from historical data using the same method as the live nightly readings. Live daily publication began after that date. Extremes are always qualified as “in ArcAlpha data” since the series start.

Questions, answered

What is the Market Pressure Index?

The Market Pressure Index (MPI) is the percentage of tracked US common stocks whose recent price range has contracted into a quiet compression phase. Markets alternate between quiet phases, where price ranges tighten, and active phases, where ranges expand. The MPI measures how much of the market is in the quiet state on any given day. It is a descriptive statistic about market character, like a thermometer reading, not a forecast.

How is the index computed?

Every night after the US close, ArcAlpha evaluates the recent price range of several thousand US common stocks from split-adjusted end-of-day data and classifies each as being in a quiet compression phase or not. The index is the share of evaluated stocks in the quiet state. ETFs and very small companies are excluded so the reading reflects investable individual stocks. The same number is shown to every visitor.

Does a high or low reading predict what the market will do?

No. Historical readings describe what the market was doing, not what it will do. High readings have historically occurred in calm markets and low readings during volatile episodes, but past patterns do not predict future market behavior. The index is published for educational study of market character, not as a timing signal.

How far back does the history go, and is it all live data?

The series starts in June 2020. Readings before the live-publication start date were computed retrospectively from historical data using the same method as the live daily readings, and are labeled as such. Any record or extreme is qualified as being within ArcAlpha data since the series start.

Is this investment advice?

No. The Market Pressure Index is an aggregate market statistic published for educational purposes only. It is not a recommendation to buy or sell any security, and it is identical for all visitors. ArcAlpha is an educational market intelligence platform, not an investment advisor.

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Aggregate market statistic for educational purposes only. Historical readings do not predict future market behavior. Not a recommendation to buy or sell any security. ArcAlpha is an educational market intelligence platform, not an investment advisor.