VICA Institutional Market Sentiment Index
Understanding what drives markets—not simply what moves them.
Core Institutional Indicators
Markets move because underlying conditions change.
VMSI™ measures five core institutional market conditions that reveal those changes before they become fully reflected in price.
Markets are analyzed in parts. VMSI measures the system.
| Component | Current | Prior |
(w/w)
|
Interpretation |
|---|---|---|---|---|
| Composite |
64.0
|
63.5 |
+0.5
|
Institutional conditions improved modestly as participation broadened beneath headline weakness, but conviction remained uneven. |
| Momentum |
68.9
|
68.4 |
+0.5
|
Equal-weight, value, Dow, and Russell participation offset mega-cap growth weakness, improving transmission without full synchronization. |
| Liquidity |
61.9
|
61.5 |
+0.4
|
Fed liquidity was stable and credit markets remained orderly, though modest HY spread widening argues against a larger upgrade. |
| Volatility & Hedging |
59.8
|
60.2 |
-0.4
|
Protection demand remained active and dealer gamma was negative, but VVIX, MOVE, and credit did not confirm systemic stress. |
| Safe Heaven |
48.8
|
49.4 |
-0.6
|
Defensive assets lost relative leadership as gold weakened and Treasury demand appeared orderly rather than crisis-driven. |
Understanding the VICA Institutional Market Sentiment Index (VMSI™)
The VICA Institutional Market Sentiment Index (VMSI™) measures the institutional market conditions that shape market behavior before they become fully reflected in market prices.
VMSI™ is published weekly using the most recent completed market data to measure current institutional market conditions.
The Advanced Signal Layer extends VMSI™ beyond the composite score by measuring the structural forces shaping institutional market conditions.
IC-VMSI™ measures how institutional capital is being deployed across markets through ownership, allocation, and portfolio positioning.