Low / Building
Leverage is not the main market risk. You can focus more on trend, breadth, credit, and individual chart quality.
Indicators · Macro
Equity Leverage
Tracks investor margin debt, cash cushion, credit stress, and rollover risk so you can see whether leverage is becoming a tailwind, warning, or source of fragility.
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Leverage risk
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Risk score
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Data updated
Today’s read
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Monthly pattern
Leverage Mode Trend
Monthly readingsFINRA margin data updates monthly. The trend matters more than repeated daily checks.
Historical leverage score trend
Latest months
Leverage switchboard
Six conditions that shape leverage risk
How to use this data
What to do with the leverage backdrop
Elevated
Risk appetite is active, but the system is more crowded. Avoid oversized positions, chasing, and weak setups.
Fragile / Deleveraging
Protect capital first. Failed breakouts matter more, leverage can unwind quickly, and credit confirmation becomes critical.
Long-term charts
Margin debt and credit context
As of —
Margin debt level
FINRA debit balancesYoY change
How quickly margin debt is expanding or contractingCash cushion ratio
Free credit divided by margin debtCredit context
High-yield OAS from FRED, sampled monthlyEducation
How to read this page
What this is
A leverage-risk dashboard. It shows whether investors are using more borrowed money and whether cash and credit conditions can absorb stress.
What this is not
It is not a market-timing signal. Margin debt can stay elevated for a long time. Use it as risk context, not as a standalone trade trigger.
Best use
Combine this with Swing Trades, Macro Regime, and price action. High leverage plus weak credit or failed breakouts deserves tighter risk.
FAQ
What is margin debt?
Margin debt is money investors borrow from brokers to buy securities. Rising margin debt can support risk assets, but high levels can make the market more fragile.
Why does cash cushion matter?
The cash cushion compares free credit balances with margin debt. A low cushion means there is less customer cash relative to borrowed exposure.
Why include high-yield credit spreads?
Credit spreads show whether bond investors are demanding more compensation for risk. If spreads widen while leverage is high, equity rallies deserve less trust.
How often does this page update?
The page refreshes from a server-built snapshot. FINRA margin data is monthly, while the credit overlay can update more frequently.
Educational use only. Data sources: FINRA margin statistics and FRED high-yield OAS. Not investment advice. FINRA data is monthly and may be revised.