COCKPIT
Data as of May 29, 2026 • S&P 500: 7,580
Monthly — Last Close
Active Regime — Monthly
Apr 30, 2026
Overvaluation
Extreme equity unattractiveness - equities far below risk-free rate
Rotate away from equities: favor bonds if Real 10Y > 0%, favor gold if Real 10Y < 0%
Since Apr 2026
0mo
Regime Proximity
Long Duration
86%
Bond Stress
64%
Signals
Bond Stress
Real EY WarningRISK-OFF
Real EY SellRISK-OFF
Equity Danger
Growth Signal
Equity Value
Liquidity
Expansionary Liquidity
Real 3MApr 2026
-0.2%P34
Real 10YApr 2026
0.6%P23
Yield CurveApr 2026
0.8%P35
Real M2Feb 2026
2.6%P45
Valuation
Very Expensive
EYP 5yrApr 2026
-0.9%P28
Real EY 5yrApr 2026
-1.1%P9
PE 5yrApr 2026
36.8xP98
EY 5yrApr 2026
2.7%P2
Price Environment
Moderate Inflation
CPI YoYApr 2026
3.8%P54
Fed FundsApr 2026
3.6%P45
Trend Pressure
Uptrend
High Pressure
May 29, 2026
StageLate
RiskMania
200MA Slope0.083
Divergence11.0%
Active Signal
Real EY Warning—Real EY: -1.09% (trigger: < +0.5%)