These are based on Max Anderson's Net Liquidity model.

The formulas for each band are:

(FRED:WALCL-FRED:WTREGEN*1000-FRED:RRPONTSYD*1000)/1000/1.1-1625 + 350

(FRED:WALCL-FRED:WTREGEN*1000-FRED:RRPONTSYD*1000)/1000/1.1-1625 - 150

Beyond Technical AnalysisFundamental AnalysisreverserepoSPX (S&P 500 Index)

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