EskiSignal
Crypto Explained
August Seasonality in Crypto: What the Monthly Return Record Shows
Every August a chart circulates showing Bitcoin’s average return by calendar month, and every August someone builds an argument on...
Whale & Exchange Flows
Exchange Netflow vs Exchange Reserve: Two Whale Metrics That Disagree
Two of the most quoted on-chain metrics measure exchange activity and routinely tell opposite stories in the same week. The...
GDP & PMI
ISM vs S&P Global PMI: Two Surveys, Two Stories
Two purchasing managers’ indices cover the same US economy in the same month and regularly land on opposite sides of...
Geopolitics & Market Risk
After IEEPA: The Tariff Authorities Washington Is Using Instead
Losing the emergency powers route did not end tariff policy. It changed the plumbing. The replacement authorities are older, narrower...
Trends & Regimes
Equal Weight vs Cap Weight: What RSP Tells You That SPY Does Not
RSP and SPY hold the same 500 companies. Over the past decade they have delivered materially different returns, taken different...
Insider & Institutional
Buyback Blackout Windows: The Bid That Quietly Disappears
Corporate buybacks are one of the largest sources of demand for US equities. For roughly five weeks around every earnings...
Why Stocks Move
Circular Financing in AI: When the Customer Is Also the Investor
A chipmaker invests in a model developer. The model developer signs a compute contract with a cloud provider. The cloud...
Unusual Volume
VWAP and Volume Profile: What Execution Desks Actually Watch
VWAP appears on nearly every trading platform as a line on the chart, and most retail users treat it as...
Sectors & Rotation
Utilities and Energy Are Leading: How to Read a Defensive Rotation
Utilities and energy leading a market is the textbook signature of a late-cycle economy. It is also, in 2026, potentially...
Unusual Volume
Relative Volume (RVOL): Separating Real Interest From Noise
Twelve million shares traded is either enormous or unremarkable depending entirely on the stock. Relative volume answers the only version...
