The metaScan panel allows for monitoring of general market trends, and factors related to broad market movements at the system level.

Returns from individual stocks are often correlated with broader stock market returns. When the overall stock market is rising (falling) there is a greater probability of positive (negative) returns in individual positions. Research has shown this to be particularly true in declining markets. Against the backdrop of a declining stock market, even stocks of exceptional companies may not produce positive returns.

The metaScan panel highlights eight capital market studies: (1) The Effective Federal Funds Rate, (2) The U.S. Treasury Inflation Protected Security (TIPS) Yield Term Structure (3) The U.S. U.S. Treasury Security Yield Term Structure, (4) The Federal Reserve's U.S. Dollar (Broad) Index, (5) The actionList.Pro News Flow Index, (6) The generalized actionList.Pro powerLine Alerts Distribution Study, (7) The aLP Earnings Season Cycle Index, and (8) The actionList.Pro Stock Market Trend Study.

• Effective Federal Funds Rate: The federal funds rate is the overnight interest rates at which banks with excess liquidity lend to banks in need of liquidity. It is managed by the Federal Reserve to help govern economic activity, and is at the center of the Federal Open Market Committee's focus during its eight regularly scheduled annual meetings, as well as other special meetings. Note: This chart is updated with a one-session delay.


• U.S. Treasury Inflation-Protected Securities (TIPS) Yield Term Structure: The TIPS term structure shows real (inflation-adjusted) yields on U.S. Government securities across selected maturities (e.g., 5 years, 10 years, 20 years, and 30 years) and how their relationships evolve over time. Because TIPS yields reflect compensation after inflation, an upward-sloping real yield curve is often considered normal, indicating increasing real return requirements for extending duration. Flat, inverted, twisted, or humped real yield curves may signal shifts in inflation expectations, real growth prospects, monetary policy conditions, or other extraordinary market forces.


• U.S. Treasury Securities Yield Term Structure: The Treasury yield term structure shows yields on U.S. Government securities across selected maturities (e.g., 3 months, 1 year, 3 years, and longer tenors) and how their relationships evolve over time. An upward-sloping yield curve is generally considered normal, reflecting incremental compensation for extending duration, while flat, inverted, twisted, or humped curves may indicate the influence of unusual, or extraordinary, market or governance forces.


• Federal Reserve U.S. Dollar Index (BROAD): The Broad U.S. Dollar Index measures the value of the U.S. dollar against a wide, trade-weighted basket of foreign currencies representing major U.S. trading partners. Published by the Federal Reserve, the index is designed to reflect dollar strength or weakness in the context of cross-border economic activity rather than financial-market convention. As a result, it may be applied to help assess potential implications for internationally active firms, including export competitiveness, overseas demand, and foreign-currency revenue exposure. The index is intended to support longer-term trend and regime analysis, and is updated on a weekly basis.


• actionList.Pro Stock News Flow Index: The Stock News Flow Index summarizes session-to-session returns for a selected universe of equities associated with companies that regularly issue press releases. The index composition is designed to broadly mirror sector-level market capitalization distributions and is generally rebalanced on an annual basis. Approximately 900 companies are monitored in constructing the index. To avoid overweighting frequent issuers, each company's return may be included only once per trading session, regardless of the number of press releases issued during that session.
  
  Reconstitution Note: The actionList.Pro™ News Flow Index incorporates press releases that may be received or processed with a delay of up to seven days. As a result, the index's most recent five trading sessions are considered provisional and may be retroactively adjusted to reflect delayed disclosures on a session-to-session basis. actionList.Pro™ may also reconstitute the index to account for material releases received or processed beyond the seven-day window.


• powerLine™ Alerts Distribution Study:  actionList.Pro developed a generalized trend strength indicator called powerLine. A technical-analysis-indicator based crossover rule yields alerts for the NYSE and NASDAQ securities in aLP's coveraage universe, as follows:* 
  
  
  • +X : Positive Crossover,
  • + : Positive Trend (Fast > Slow),
  • –X : Negative Crossover,
  • – : Negative Trend (Fast < Slow)
  • NAA : Not an Alert
  
  The powerLine Alerts Distribution Study plots the percent of observations in each category to provide a unique perspective into the stock market's recent action.


• aLP Earnings Season Cycle Index:  actionList.Pro's Earnings Season Cycle Index helps highlight earnings season cycles as they occur. Monitoring at what moment in the earnings season cycle market action is taking place can prompt useful questions. E.g., Is the stock market's action taking place against the backdrop of a current flood of earnings announcements? Or, are stock market participants assessing the upcoming quarter's earnings? If the stock market's action isn't consistent with earnings announcement quality ... What might be driving it?


• Stock Market Trend Study: A study created from actionList.Pro's proprietary Stock Market Trend Model that aims to highlight generally positive or negative trends in stock market prices. It is also designed to call attention to moments where a market trend is not necessarily discernable.
  

Economic activity arises from choices made by individuals and institutions as they collectively seek to allocate property. Property includes money, materials, human capital (labor and IP) and real estate. With the exception of the aLP Initial Claims index, the econ101 panel applies exchange traded funds (ETFs) to create indexes to help monitor trends related to these fundamental factors of production. The aLP Initial Claims index is based on the United States Department of Labor's Unemployment Insurance Weekly Claims Report's intial jobless claims indicator.

To monitor valuation trends in companies involved in producing fundamental factors of production, actionList.Pro maintains the econ101 stock index, an index of indexes. It is managed to reflect the performance of companies involved in the following primary industries: (1) Agriculture, (2) Basic Materials, (3) Finance, (4) Energy, (5) Human Resources and (6) Real Estate, and is equal weighted across those primary industries.

The econ101 index's performance relative to actionList.Pro's individual primary industrial sector indexes may reveal important dynamics underlying a given sector's action. If the ratio of the econ101 index relative to a given primary industrial sector index rises over an extended period of time, the suggestion is that the suppliers of fundamental inputs are gaining relative leverage, suggesting that the sector in question may be facing increasing difficulty securing required factors of production on favorable terms. Conversely, a declining ratio suggests an improvement in relative bargaining position for the sector with respect to its input requirements.

Note: When evaluating a given primary industrial sector, that sector's component is excluded from the econ101 index to avoid overlap and enhance clarity.

The sectorScan-i panel introduces a cross-sectional study that presents the full distribution of powerLine alerts associated with the primary sectors in aLP's proprietary industrial taxonomy. actionList.Pro's primary industrial taxonomy is specified as follows:

• AGRI - AGRICULTURE
• ATCH - APPLIED TECHNOLOGY
• BSCM - BASIC MATERIALS
• CMCL - COMMERCIAL
• FCLT - COMMERCIAL PROPERTY
• CNSM - CONSUMER
• DTHC - DEATHCARE
• DFNS - DEFENSE SYSTEMS
• EDCN - EDUCATION
• NRGY - ENERGY
• FNCE - FINANCE
• HLTH - HEALTHCARE
• INDU - INDUSTRIAL
• STRX - INFRASTRUCTURE
• LSRE - LEISURE
• MDIA - MEDIA
• RSID - RESIDENTIAL PROPERTY
• TECH - TECHNOLOGY
• TLCM - TELECOM
• TXPT - TRANSPORTATION
• UTIL - UTILITIES

Each horizontal bar in the study represents the distribution of powerLine alerts for the indicated industrial sector. The dark-green and dark-red terminal segments call attention to the proportions of positive and negative powerLine crossover alerts, respectively. The symbols contributing to the proportions of the terminal segments in the sectorScan;i panel are those applied to produce the actionList xOver (crossover) Report.


The sectorScan-ii panel recasts the cross-sectional powerLine Alerts Distribution Study as a collection of time series for each of aLP's primary industriual sectors. Whereas the cross-sectional study answers the question: Where are we? The time series based study answers the question: How did we get here? It prompts: Where might we be going? Use the left and right arrows to view the industrial sector studies sequentially, or enter one of the above industrial symbols to select a specific chart.

The Industrial Capitalization (%) Study introduces the capital market's committment to primary industrial sectors in percentage terms as a reference against which to compare and contrast exposures arising from the User's actionList positions; columns A-D. It also presents two noteworthy limits, (1) the estimated equal-weighted and (2) the market-weighted Total actionList Capital (TaC)* allocations; columns i & ii. The study's columns are described below.

• Indu Sctr - (Primary industrial sector): The primary industrial sectors included in actionList.Pro's industrial taxonomy.


• Mkt Alloc % - (The stock market's estimated allocation of capital to primary industrial sectors in percent): actionList.Pro's™ estimate of the stock market's allocation of capital to each primary industrial sector in percentage terms.


• TaC Alloc % - (Total actionList Capital allocated to primary industrial sectors in percent): An estimate of the proportion of TaC allocated to primary industrial sectors in percent.


• Diff (C-B) % - (Difference (Column C - Column B) in percent): The Diff % column presents the difference between the capital market's and the User's allocation across primary industrial sectors, and highlights the primary industrial sector commitments (or bets) arising from established positions.

• TaC Eql Wght % - (Total actionList Capital equal weighted, in percent): This column provides an estimate of the distribution of TaC across primary industrial sectors under the assumption that TaC is distributed equally across all the stock ticker symbols included in the actionList panel. Equal weighted allocations call for the equal distribution of capital across a given set of securities.


• TaC Mkt Wght % - (Total actionList Capital Market Cap Weighted, in percent): This column estimates the exposure to primary industries under the assumption that TaC is allocated to the stocks associated with the stock ticker symbols included in the $ actionList panel in proportion to their relative market capitalizations. Market weighted capital allocations call for the distribution of capital on the basis of the market capitalization of individual securities.

The percent based interSector study features three charts that respectively illustrate the values in columns B, C and D. The first two charts contain a vertical red line highlighting the average of each allocated sector in percentage terms. Use the "Show | Hide Charts" button to display and hide the charts associated with this panel.
The dollar-based Industrial Capitalizations ($) interSector Study recasts the percentage study in terms of dollars, using TaC as its basis.

*Total actionList Capital (TaC), is the sum value of the User's established stock positions as specified in the actionList and Shares panels.

actionList.Pro developed a generalized trend strength indicator (an oscillator) to help assess current price trends in individual stocks or stock indexes. It's called powerLine. It accepts prices of individual stocks or index values as inputs and is theoretically an unbound indicator, but tends to range between 4 and -4 in practice. A rising indicator suggests increasing trend strength, and a declining indicator suggests decreasing trend strength. Peaks and valleys highlight potential turning points in trend strength.

The powerLine panel allows for closer examination of symbol-specific powerLine series with a chart featuring 252 sessions, or approximately one year, of observations. The series illustrated in this graph corresponds to the baseline series used to produce the powerLine alerts highlighted in Column B of the powerLine Alerts study, as-well-as the crossover alerts summarized on aLP's powerLine xOver (crossover) Report. This panel is pre-populated with symbols from the actionList panel, making it easy to review the actionList ticker symbols with the panel's next and previous arrows.

powerLine alerts are generated by applying a technical analysis moving-average crossover rule to the actionList.Pro powerLine indicator. Crossovers and trends are noted as follows:

• +X : Positive Crossover (Fast crosses above slow) ,
• + : Positive Trend (Fast > Slow),
• –X : Negative Crossover (Fast crosses below slow),
• – : Negative Trend (Fast < Slow),
• NAA : Not an Alert

The powerLine Alert panel's first column (Column A) lists actionList symbols, and specifies their most recently available powerLine values. The second column (Column B) presents the model's output for individual symbols.


Note: actionList.Pro's User Profile Settings include fields for storing base URLs to users' trusted online information resources. These fields are used to generate symbol-specific links within selected aLP panels. Hint: The Base URL 1 field is ideally suited for a fundamental research related link.

actionList.Pro maintains a collection of equal-weighted indexes designed to help track primary industrial sectors, macro-economic sectors and markets, and their related news flows. In addition to monitoring the trend strength characteristic of individual securities, actionList.Pro also monitors trend strength for these indexes, and associates them with the individual securities in the powerLine Alerts panel.

The remaining columns in the powerLine Alerts panel are defined as follows:

• i1 - Primary Industrial Sector powerLine Alert
• i1n - Primary Industrial Sector News Flow powerLine Alert
• SM - Macro-Economic Sector or Market powerLine Alert
• SMn - Macro-Economic Sector or Market News Flow powerLine Alert

The myLnx panel appears if a a URL is stored in the Base URL 2 field (in the User Profile), and serves to provide convenient access to a user-provided informational resource. Hint: The Base URL 2 field is ideally suited for a technical analysis related link.

The Risk Measures panel consists of a collection of stock- and position-specific risk measures based on 252 historic sessions. They include the standard deviation of daily returns, Beta coefficent, Sharpe ratio and Historical Daily Value at Risk.

A statistical measure used to quantify the dispersion of returns around the average return. Higher standard deviations imply a higher level of return volatility, and suggest a greater level of risk.

The Sharpe ratio assesses a given security's excess return relative to the standard deviation of excess returns. The higher the Sharpe ratio, the more effective a given security has been at producing returns given the level of associated risk.

βeta helps specify a given stock's risk relative to the stock market. The overall stock market's βeta is 1.00. Stocks with βeta values greater (less) than 1.00 are seen as riskier (less risky) than the overall stock market. E.g., a stock with a βeta value of 1.20 has historically produced returns of 1.20 times those of the overall stock market.
The aLP βeta coefficient calculation applies the Vanguard Total World Stock ETF (NYSE: VT) as a proxy for the overall stock market.

Historical VaR is used to help estimate a given position's potential greatest loss over a given period of time with a given level of confidence. aLP's Historical VaR measure is based on 252 daily sessions, and a 99% level of confidence. E.g., a VaR of $1,000.00 implies one might expect worse than a one day loss of $1,000.00 on 1 out of 100 days.

Note: The statistics presented in the Risk Measures panel are based on historical data, and historical data is not necessarily a guide to future performance for various reasons; i.e, past performance is not an indicator of future performance.

Start creating your masterpiece in the actionList panel. It is reserved for the stock ticker symbols of Users' independently well-researched or well-recommended companies. Empty fields in the actionList panel are highlighted with the {$FIELD ADDRESS} placeholder.

The Shares panel is used to keep track of the number of shares associated with the positions included in the actionList panel. The spreadsheet-like format makes it easy to associate ticker symbols from the actionList Panel with a selected quantity of shares.

Stock ticker symbols in the $ actionList panel that are associated with quantities in the # Shares panel are referred to as paired symbols, and give rise to actionList positions.

The Allocations panel presents the actionList positions' contributions to the actionList's overall capital allocation. They are specified in terms of dollar values ($) and percent (%). It also highlights each position's assigned primary industrial sector and macroeconomic sector or market.


Companies are allocated into one of the primary industrial sectors listed here.

• AGRI - AGRICULTURE
• ATCH - APPLIED TECHNOLOGY
• BSCM - BASIC MATERIALS
• CMCL - COMMERCIAL
• FCLT - COMMERCIAL PROPERTY
• CNSM - CONSUMER
• DTHC - DEATHCARE
• DFNS - DEFENSE SYSTEMS
• EDCN - EDUCATION
• NRGY - ENERGY
• FNCE - FINANCE
• HLTH - HEALTHCARE
• INDU - INDUSTRIAL
• STRX - INFRASTRUCTURE
• LSRE - LEISURE
• MDIA - MEDIA
• RSID - RESIDENTIAL PROPERTY
• TECH - TECHNOLOGY
• TLCM - TELECOM
• TXPT - TRANSPORTATION
• UTIL - UTILITIES

Selected Notes: (1) The Technology (TECH) sector includes companies involved in commercializing fundamental technological inputs; e.g., displays, semiconductors, computer memory, networking equipment or more generalized enterprise software, (2) Companies in the Applied Technology (ATCH) sector include those that focus their efforts on applying technology to address the needs and interests of specific industries or institutional functions, (3) The Commercial (CMCL) sector includes commercial supplies and services, (4) The Commercial Property (FCLT) and Residential Property (RSID) sectors generally do not include REITs and (5) for historical reasons Waste Management companies serving households and businesses are included in the Utilities sector.

Macroeconomic sectors or markets applied to classify companies in actionList.Pro's database include:

• BSNS - BUSINESS
• HHLD - HOUSEHOLD
• GOVT - GOVERNMENT
• FCTR - FACTOR
• FNCL - FINANCIAL

Column D's sum total represents an estimate of the total dollar value associated with the actionList's paired symbols, or positions, and is referred to as Total actionList Capital, or TaC.


The Allocations panel also includes useful portfolio-level dividend yield and income measures, including modeled (TTM) dividend yield (%) and dividend income ($), as-well-as a list of income contributors and their modeled dollar contributions.