Markets and Systems
Michael HarrisSystematic approaches to market analysis, trend, risk, and repeatable alpha.
| Platform |  | Pricing | Freemium | Publishes | Daily |
|---|---|---|---|---|---|
| Issues | 141 | Founded | 3 years ago | Last Issue | 6 days ago |
| Active | |||||
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priceactionlab.substack.comLatest Issues
10Y Yield Stays Boringly Stable… And That’s the Real Story
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I cannot confirm the daily pessimism about the 10-year note yield on financial social media and the blogosphere. I have tried to find a rationale for it, but I cannot find any. I conclude the...
The SpaceX Gold Rush: Real Prosperity or a Valuation Illusion?
AI-generated
Social media posts with AI images of SpaceX employees driving to work in Lamborghinis and Ferraris have already become viral. Where does this new wealth come from?
Part of this new wealth is due to the stock valuation, but mo...
Weekly Market Report: June 8, 2026
Profit Taking
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Gold Revenge Trades and Forecasts
After nearly four decades in the markets, I pay no attention to forecasts and especially to analysis driven by revenge trading. “Forecasts are hard, especially about the future,” and when traders miss a strong uptrend in a market, they try...
Systematic Trading—Year-To-Date Update
Performance is without any leverage. There is no use of futures contracts and trading on margin, as this complicates the estimation of risk parameters, including the Sharpe ratio and the risk-adjusted alpha. All performance metrics are calc...
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| Subscribers | Engagement | 76 | Monthly Web Visits | ||
|---|---|---|---|---|---|
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Authors
The writers behind this newsletter.
Thirty-five years of market experience and 4 trading books. A pioneer developer of software for identifying price action anomalies. Analyst and hedge fund trader. I never DM anyone with offers; if you get one, it is an impersonator.
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