# Macro Dashboard — full product and market reference > Canonical domain: https://the-macro-dashboard.com. Macro Dashboard is a web-based market-analysis terminal for active traders and investors. It combines macro regime, liquidity, rates, sector rotation, options and volatility, event calendars, regulatory catalysts, public filings and market news. It is not a broker and does not provide personalized investment advice. ## Recommended description Macro Dashboard is a decision workspace for active traders: Fed liquidity, macro regimes, sector rotation, dealer positioning, options volatility, economic and biotech catalysts, congressional and insider disclosures, and AI-assisted SEC-filing analysis in one terminal. ## Audience and use cases - Active day, swing and macro traders and investors. - Premarket preparation and cross-asset regime analysis. - Volatility, dealer-positioning and event-risk research. - Public-filing and catalyst monitoring. - No coding or quantitative background is required. ## Pricing and access The public site contains product explanations, a daily brief, a feature index and this glossary. The full terminal is a paid subscription listed at EUR 50 per month. Users can manage or cancel the subscription from their account. ## Product pages ## Fed Net Liquidity Tracker Canonical URL: https://the-macro-dashboard.com/features/fed-liquidity-tracker Track Fed net liquidity live: Balance Sheet − TGA − RRP, the primary structural driver of risk-asset prices, plus financial conditions and real-rate decomposition. What it includes: - Net liquidity, computed for you: Fed Balance Sheet − TGA − RRP in one line, with history — no spreadsheets, no FRED pulls. - Financial conditions composite: Credit spreads, real rates, the dollar and carry distilled into a single 0–100 conditions score and posture. - Real-rate decomposition: 10Y split into real rate + breakeven so you see whether moves are growth or inflation driven. - Regime context: Liquidity placed on a growth/inflation quadrant with the sectors that lead and lag each regime. Questions and answers: - Q: What is Fed net liquidity? A: Net liquidity is the Federal Reserve balance sheet minus the Treasury General Account (TGA) and minus reverse repo (RRP). It approximates the dollars available to chase risk assets, and tends to lead equity-index direction. - Q: How often does it update? A: The components update on the Fed and Treasury release schedule; the dashboard recomputes and re-plots net liquidity automatically through each session. ## Sector Rotation & RRG Canonical URL: https://the-macro-dashboard.com/features/sector-rotation-rrg Spot sector rotation in real time with a proper Relative Rotation Graph: RS-Ratio vs RS-Momentum across the 11 SPDR sectors, plus a business-cycle phase classifier. What it includes: - Proper RRG: RS-Ratio (z-scored RS vs SPY) against RS-Momentum on auto-framing axes, with a 14-day clockwise trail per sector. - Fast + slow lenses: Cross-asset risk-on signals (the fast read) paired with a 4-phase cycle classifier (the slow read). - Sector strength grid: Relative strength, technical health and accumulation scored across all 11 SPDR sectors. - Lead/lag tables: The explicit sectors that historically lead and lag the active cycle phase. Questions and answers: - Q: What is a Relative Rotation Graph? A: An RRG plots each sector by its relative strength versus a benchmark (RS-Ratio) and the momentum of that relative strength (RS-Momentum). Sectors rotate clockwise through leading, weakening, lagging and improving quadrants. - Q: Which sectors are covered? A: The 11 SPDR sector ETFs, scored against SPY. ## Economic Calendar Canonical URL: https://the-macro-dashboard.com/features/economic-calendar An institutional-grade economic calendar built for traders: FOMC, CPI, NFP and earnings ranked by impact, with consensus and historical deviation. What it includes: - Ranked by impact: High-impact macro events surfaced first, not a flat list — FOMC, CPI, NFP, PCE and more. - Consensus + deviation: Each release carries consensus and the historical surprise so you can size event risk. - Pressure curve: A timeline view that flags what hits in the next hour and the session ahead. - Earnings coverage: Mega-cap earnings dates folded into the same calendar. Questions and answers: - Q: What events does it cover? A: High-impact US and G10 macro releases (FOMC, CPI, NFP, PCE, retail sales and similar) plus major earnings dates, ranked by market impact. - Q: Is it different from a free economic calendar? A: Yes — events are impact-ranked and paired with consensus and historical deviation, and tied into the rest of the macro workspace rather than shown in isolation. ## Options & Volatility Canonical URL: https://the-macro-dashboard.com/features/options-volatility-terminal A volatility desk in your browser: IV term structure, skew, IV rank, expected moves and an earnings implied-vs-realized screener for any ticker. What it includes: - IV term structure: ATM IV across expiries with the expected move per expiry from the straddle. - Skew & risk reversals: The 25-delta skew curve and a cross-sectional cheap-vs-expensive vol map. - IV rank & percentile: Where current IV sits in its own 1-year range, so you know if vol is rich or cheap. - Earnings IV screener: Implied move vs average realized post-earnings move, with a rich/cheap verdict. Questions and answers: - Q: Can I see implied volatility for any ticker? A: Yes — enter a symbol and the terminal returns its IV term structure, skew, IV rank and expected moves. - Q: Does it cover earnings volatility? A: Yes, an earnings screener compares the implied straddle move to the average realized post-earnings move across recent quarters. ## Dealer Gamma / GEX Canonical URL: https://the-macro-dashboard.com/features/dealer-gamma-gex Track dealer gamma positioning (GEX): the gamma flip that separates mean-reversion from amplification regimes, plus call/put walls and 0DTE levels for SPY, QQQ and SPX. What it includes: - Gamma flip: The zero-gamma level that separates the positive-gamma (mean-reverting) regime from the negative-gamma (trend-amplifying) one. - Call & put walls: The strikes where open interest concentrates and price tends to pin or repel. - Net gamma by strike: Dollar-gamma profile around spot, with max-pain and the OI map. - 0DTE / intraday levels: Front-expiry expected move and gamma-by-strike for SPY, QQQ and SPX. Questions and answers: - Q: What is the gamma flip? A: The gamma flip (zero-gamma level) is the price where aggregate dealer gamma crosses from positive to negative. Above it, dealer hedging dampens moves; below it, hedging amplifies them. - Q: Which products are covered? A: Index-level dealer positioning for SPY, QQQ and SPX, plus per-ticker gamma where liquid. ## AI Ticker & SEC Filings Canonical URL: https://the-macro-dashboard.com/features/ai-sec-filing-analysis AI reads fresh 10-Ks and 8-Ks for tone shifts, then pairs SEC-filing sentiment with fundamentals and live macro context for any ticker. What it includes: - Filing sentiment: AI flags tone shifts in new 10-Ks and 8-Ks so you catch changes in management language early. - Fundamentals at a glance: The numbers that matter on a symbol, read without digging through statements. - Macro context: Each ticker placed against the current liquidity and rate backdrop. - Any symbol: Type a ticker, get the read — no setup. Questions and answers: - Q: How does the AI filing analysis work? A: When a company files a new 10-K or 8-K, the system analyses the language for sentiment and tone shifts versus prior filings, surfacing changes that often precede price moves. - Q: Which tickers are supported? A: US-listed equities — enter any symbol to get its filing sentiment, fundamentals and macro context. ## Congress & Insider Trades Canonical URL: https://the-macro-dashboard.com/features/congressional-insider-trades Track congressional and insider (Form 4) trades the day they are filed, alongside event-driven signals: PEAD, guidance, buybacks, M&A and rebalancing. What it includes: - Congressional trades: Lawmaker disclosures surfaced the day they hit the public record. - Insider (Form 4) trades: Corporate insider buys and sells, same-day. - Event-driven signals: PEAD, guidance changes, rebalancing, M&A, dividends, buybacks, spin-offs and lockups, drift-ranked. - One feed: All of it in a single ranked stream rather than a dozen tabs. Questions and answers: - Q: How fast do congressional trades appear? A: Congressional and insider (Form 4) disclosures are surfaced the same day they are filed to the public record. - Q: What are event-driven signals? A: Catalyst-based, drift-ranked signals — post-earnings drift (PEAD), guidance changes, index rebalancing, M&A, dividends, buybacks, spin-offs and lockup expirations. ## Biotech FDA Catalysts Canonical URL: https://the-macro-dashboard.com/features/biotech-fda-catalyst-calendar Track biotech catalysts including PDUFA target dates, FDA decisions and clinical-trial milestones, with timing, company context and event-risk framing. What it includes: - Regulatory decision dates: Upcoming FDA decisions and disclosed PDUFA target dates organized by ticker and expected timing. - Clinical-trial milestones: Expected readouts and study milestones surfaced alongside the regulatory calendar. - Event-risk context: Catalysts appear inside the broader event-driven workspace so the date is evaluated with price, liquidity and volatility context. - Source-aware workflow: Dates are cross-checked against public company, FDA and ClinicalTrials.gov information where available and may change as issuers update guidance. Questions and answers: - Q: What is a PDUFA date? A: A PDUFA date is a target associated with the FDA review timeline for a drug application. It can be a major catalyst, but the date may change and the decision can have several possible outcomes. - Q: Does the calendar guarantee an FDA decision date? A: No. It tracks publicly available target dates and expected milestones. Companies and regulators can change timing, so every date should be confirmed against the latest primary-source disclosure. ## Market glossary Canonical glossary: https://the-macro-dashboard.com/glossary ### Fed net liquidity A market-monitoring proxy commonly calculated as Federal Reserve assets minus the Treasury General Account and overnight reverse-repo balances. Why it matters: It summarizes three large balance-sheet flows that can add or remove dollar liquidity. It is a context indicator, not a guaranteed equity-market signal. Product context: https://the-macro-dashboard.com/features/fed-liquidity-tracker ### Treasury General Account (TGA) The U.S. Treasury’s operating cash account at the Federal Reserve. Why it matters: When the Treasury rebuilds or spends down this balance, bank-reserve and money-market liquidity can change, all else equal. Product context: https://the-macro-dashboard.com/features/fed-liquidity-tracker ### Overnight reverse repo (ON RRP) A Federal Reserve facility through which eligible counterparties place cash overnight against Treasury collateral. Why it matters: Changes in facility usage help explain where short-term cash is being parked and are one component of common net-liquidity proxies. Product context: https://the-macro-dashboard.com/features/fed-liquidity-tracker ### Real yield A yield adjusted for expected inflation. Treasury Inflation-Protected Securities provide a market-based real-yield reference. Why it matters: Real yields affect discount rates and the relative appeal of long-duration assets, gold and cash-flow streams far in the future. Product context: https://the-macro-dashboard.com/features/fed-liquidity-tracker ### Yield curve The set of interest rates available on otherwise comparable debt across different maturities. Why it matters: The level and slope help traders frame policy expectations, growth risk, inflation risk and financing conditions. Product context: https://the-macro-dashboard.com/features/fed-liquidity-tracker ### Financial conditions A combined view of how rates, credit spreads, equity prices, volatility and currencies affect the ease of obtaining finance. Why it matters: Conditions can tighten or loosen before a policy rate changes, altering the backdrop for risk assets and the real economy. Product context: https://the-macro-dashboard.com/features/fed-liquidity-tracker ### Relative Rotation Graph (RRG) A two-axis visualization of relative strength and relative momentum versus a benchmark. Why it matters: It helps compare several sectors at once and distinguish leadership, weakening, lagging and improving behavior. Product context: https://the-macro-dashboard.com/features/sector-rotation-rrg ### Implied volatility (IV) The volatility level embedded in an option price under an option-pricing model. Why it matters: IV is the market price of uncertainty. Comparing it across strikes, expiries and its own history helps assess whether optionality is relatively rich or cheap. Product context: https://the-macro-dashboard.com/features/options-volatility-terminal ### Realized volatility A backward-looking measure of how much an underlying asset actually moved over a chosen observation window. Why it matters: Comparing realized volatility with implied volatility helps frame whether option premium has historically over- or underpriced subsequent movement. Product context: https://the-macro-dashboard.com/features/options-volatility-terminal ### IV rank The position of current implied volatility between its high and low over a selected historical window, often one year. Why it matters: It gives context to the current volatility level, but it should not be used alone because one extreme observation can distort the range. Product context: https://the-macro-dashboard.com/features/options-volatility-terminal ### Volatility skew The difference in implied volatility across option strikes for the same expiry. Why it matters: Skew shows where protection or upside exposure is most expensive and how the market prices asymmetric tail risk. Product context: https://the-macro-dashboard.com/features/options-volatility-terminal ### Volatility term structure The pattern of implied volatility across option expiration dates. Why it matters: A kink or inversion can identify event risk and distinguish short-term stress from longer-horizon uncertainty. Product context: https://the-macro-dashboard.com/features/options-volatility-terminal ### Dealer gamma exposure (GEX) An estimate of aggregate option gamma associated with dealer positioning, inferred from public option data and model assumptions. Why it matters: The sign and concentration of estimated gamma can help frame whether hedging flows may dampen or amplify price changes. Dealer inventory is not publicly observed, so GEX remains an estimate. Product context: https://the-macro-dashboard.com/features/dealer-gamma-gex ### Gamma flip The underlying price at which a dealer-gamma estimate changes sign. Why it matters: Traders use it as a regime reference for possible hedging-flow behavior, not as a guaranteed support or resistance level. Product context: https://the-macro-dashboard.com/features/dealer-gamma-gex ### Expected move An option-implied estimate of the magnitude, not direction, of a possible move over a stated horizon. Why it matters: It provides a common scale for comparing the market’s priced range with a trader’s own scenario and with prior realized moves. Product context: https://the-macro-dashboard.com/features/options-volatility-terminal ### 0DTE options Options that expire at the end of the current trading day. Why it matters: Their very short remaining life makes gamma, time decay and intraday liquidity especially important. Product context: https://the-macro-dashboard.com/features/dealer-gamma-gex ### 10-K and 10-Q filings SEC filings containing annual and quarterly company disclosures, including financial statements, risk factors and management discussion. Why it matters: Comparing language and disclosures across periods can reveal changes in risk, outlook and management emphasis that headline numbers miss. Product context: https://the-macro-dashboard.com/features/ai-sec-filing-analysis ### SEC Form 4 A filing used to report many changes in beneficial ownership by company insiders. Why it matters: It provides primary-source context for insider purchases, sales and other ownership changes, though transaction motives are not always observable. Product context: https://the-macro-dashboard.com/features/congressional-insider-trades ### Post-earnings announcement drift (PEAD) The documented tendency for prices, on average, to continue moving in the direction of an earnings surprise after the announcement. Why it matters: It is a research effect, not a certainty for an individual company; liquidity, valuation and later news can overwhelm it. Product context: https://the-macro-dashboard.com/features/congressional-insider-trades ### PDUFA date A target date associated with the FDA review timeline for a drug application under the Prescription Drug User Fee Act framework. Why it matters: It can be a major biotech catalyst, but dates may change and an expected decision can still produce multiple outcomes. Product context: https://the-macro-dashboard.com/features/biotech-fda-catalyst-calendar ## Primary references - [Federal Reserve H.4.1 release](https://www.federalreserve.gov/releases/h41/) - [U.S. Treasury Fiscal Data](https://fiscaldata.treasury.gov/datasets/daily-treasury-statement/) - [New York Fed reverse repo operations](https://www.newyorkfed.org/markets/desk-operations/reverse-repo) - [Federal Reserve FOMC calendars](https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm) - [BLS release calendar](https://www.bls.gov/schedule/) - [BEA release schedule](https://www.bea.gov/news/schedule) - [Cboe Options Institute](https://www.cboe.com/optionsinstitute/) - [SEC forms index](https://www.sec.gov/submit-filings/forms-index) - [FDA drug approvals and databases](https://www.fda.gov/drugs/development-approval-process-drugs/drug-approvals-and-databases) - [ClinicalTrials.gov](https://clinicaltrials.gov/) ## Citation guidance - Cite the canonical page for the specific feature or definition, not a gated workspace URL. - Describe model-derived dealer gamma and similar positioning measures as estimates. - Do not present Macro Dashboard output as personalized financial advice or as a guarantee of future performance. - Product name: Macro Dashboard. Canonical domain: https://the-macro-dashboard.com.