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Published every trading day

Know what button to push next in the market.

Institutional-grade sentiment, DeMark exhaustion signals and cross-asset positioning, written every trading day by a former hedge fund trader. Not recycled Wall Street consensus.

Cancel any time · instant access on activation
As seen on / trusted by Level Global Investors Erlanger Research
The trading day

Four notes, timed to when you actually need them.

Pre-market · 7:00

First Call

What happened overnight and what it means for the open. Short enough to read with coffee.

Latest: First Call — risk comes off ahead of the print →
11:00 EST

Mid Morning Note

Actionable read once the open has settled, with trade ideas and DeMark screens.

Latest: Mid Morning — the open settles, breadth does not →
Midday

Daily Note

All macro markets, with the emphasis on US, European and Asian equities.

Latest: Daily Note — cross-asset positioning into the close →
Weekend

The Week Ahead

Straight to the point. The catalysts and the focus for the week you are walking into.

Latest: The Week Ahead — catalysts you are walking into →
Membership

One decision, then you get the whole desk.

887 members · most popular

Private Investors

$500 / year
Then $1,000/yr — you save $500
  • Two daily notes plus the First Call premarket briefing
  • Trade ideas and tactical market themes
  • Daily sentiment monitors and charts, 45 markets
  • DeMark Sequential Combo and the S&P 500 screen
  • Monthly market and short-interest webinars
  • Full archive of past reports and notes
Subscribe — $500 first year Billed annually · renews at $1,000

Small Institutions

$2,500 / year
For desks, funds and family offices
  • Everything in Private Investors
  • Full access to The Big Picture macro framework
  • Up to 3 team members
  • Bloomberg chat room access with Tom
  • Unlimited direct access for chart and portfolio reviews
  • Custom DeMark screens, priority response
Choose this plan

Large Institutions

On enquiry
For larger teams and multi-seat coverage
  • Everything in Small Institutions
  • Seats for the whole desk
  • Bespoke screens and coverage
  • Direct line to Tom
Contact Tom

Every plan includes the full archive. Cancel any time.

Who writes it

Written by someone who traded the book.

Thomas Thornton spent his career on institutional trading desks before starting Hedge Fund Telemetry. The notes are written the way he wanted them written when he was the one taking the risk: the positioning, the exhaustion signals and the level that invalidates the idea — not just the conclusion.

Start tomorrow morning with the First Call.

Join the desk and get the premarket briefing before the open.

See plans and pricing