The Big Picture — Hedge Fund Telemetry

Market noise does not help you allocate capital better

The problem is not a shortage of information. It is that almost none of it tells you where positioning is crowded, where sentiment is stretched, and where risk and reward have quietly flipped.

What most investors get

Yesterday's move explained after the fact
Consensus dressed up as a call
Single-asset views with no cross-market context
Volume for the sake of volume

What serious investors need

Where the market is fragile, before the headline
Where positioning is crowded enough to snap
One framework across equities, rates, credit, FX and commodities
A view that says what would change it

Markets do not move on news alone

They move when liquidity, positioning and exhaustion signals collide. The Big Picture is built to spot those collisions early, which is a different job from forecasting.

A page from The Big Picture showing the macro framework

A page from a recent issue. Members get the full report each month, plus interim updates when something breaks.

Two layers that matter most

Sentiment & exhaustion

Daily Sentiment Index across 45 markets
DeMark Sequential and Combo countdowns
Where a trend is tired, not where it has already turned
Duration at an extreme, which matters more than the level

Positioning & fragility

Macro Scoreboard: inflation, growth, liquidity, risk appetite, stress
Market Fragility Index by asset class
Crowding analysis and squeeze risk
Where a reversal would do the most damage

Start with this month's issue

$250 for the first year instead of $400. You get the current report the moment you subscribe, not at the next cycle.

Subscribe — $250

What you get

✓ A monthly deep-dive across equities, rates, credit, commodities, FX, liquidity and positioning
✓ Interim updates during volatility spikes and major DeMark or sentiment triggers
✓ The Macro Scoreboard and Market Fragility Index, refreshed each issue
✓ Cross-asset analysis connecting stocks, bonds, commodities, currencies and volatility
✓ Daily Sentiment Index charts across all 45 markets
✓ The full archive of past issues from day one

Who it is for

Allocators, long-term serious investors and professionals who need to understand the primary structural trends. Built for hedge funds, mutual funds, RIAs, family offices and sophisticated investors.

If you want 0DTE options alerts or five-minute scalps, this is not for you, and Tom would rather say so now than take your money.

"I was fortunate to have Tom as my trader for nearly 10 years. His ability to follow markets and note divergences and extremes across several asset classes was of tremendous value." David Ganek · Founder, Level Global Investors

Questions

How often does it come out?

Monthly as the core report, plus interim updates whenever a volatility spike or a major DeMark or sentiment trigger changes the picture. You are not waiting a month if something breaks in week two.

Is this the same as the daily notes?

No. The daily notes are the trading rhythm — First Call, Mid Morning, Daily Note, The Week Ahead. The Big Picture sits above them as the intermediate-term roadmap. Many members take both, and Institutions plans include it.

What is the $400 price?

$400 is the standard annual rate. $250 is the current early-bird rate for new subscribers, and it holds for your first year.

Can I cancel?

Any time, from your account, in one click. Access runs to the end of the period you have already paid for and nothing charges after that.

Do I need to understand DeMark first?

No. The knowledge base has a guided path that takes about forty minutes and covers Sequential, Combo and how to read the screens.