Themes / Pair
Active · newly observed relationshipLatest completed snapshot · Sep 10 · 11:10 ET

MARKET-DISCOVERED GROUP

Consumer Retail

THE TRADER READShared activity without a clean directional read

Price direction is split across 2 measured members. Capital-flow confirmation is unavailable.

Price breadth1 up · 1 downRelative median unavailable
Capital-flow alignmentUnavailablePrice breadth is not yet confirmed by flow
Activity nowHigh_pressureActivity score 64/100
Evidence depth0 support daysLow sample—context, not a validated playbook
EVIDENCE CLOCK

What happened, in timestamp order

1 timed event
TIMING READA causal timing read is unavailable because no material member price onset could be timestamped.
2 earlier filing context receipts

WED, JUN 3M filing documented shared operating contextcredit / rates affecting interest expense · date precision only

TUE, SEP 8ASO filing documented shared operating contextcredit / rates affecting interest expense · date precision only

Headline times and retained activity confirmations are point-in-time evidence. Price order is inferred from aligned 5-minute bars. Filing evidence has date precision only and is context, not an intraday catalyst claim.

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations
Price sequence unavailableA timestamped price sequence is unavailable.
RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized

Observed intraday paths are not available for this group yet.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast
WHY THIS GROUP EXISTS

Shared filing context

2/2 members covered

Moderate filing support: the strongest shared 10-Q/K relation is credit / rates affecting interest expense on interest expense across ASO, M.

credit / rates affecting interest expense

“First Quarter of 2026 First Quarter of 2025 Net interest expense $ (25) $ (27) The decrease in net interest expense, excluding loss on extinguishment of debt, in the first quarter of 2026 compared to the first quarter of 2025 wa s primarily driven by a decrease in interest expense as a result of the debt transactions that were executed in the second quarter of 2025.”

M 10-Q · 2026-06-04
tariffs / trade costs affecting gross margin

“Second Quarter of 2026 Second Quarter of 2025 $ % to Net Sales $ % to Net Sales Cost of sales $ (2,848) 58.5 % $ (2,900) 60.3 % Gross margin $ 2,018 41.5 % $ 1,912 39.7 % Gross margin rate increased 180 basis points in the second quarter of 2026 compared to the second quarter of 2025 mainly driven by gross tariff refunds of approximately $95 million.”

M 10-Q · 2026-09-10
tariffs / trade costs affecting expense

“Our procurement of goods and services from outside the U.S. is subject to risks associated with political or financial instability, trade restrictions, tariffs, currency exchange rates, transport capacity and costs, health pandemics, armed conflicts and other factors relating to foreign trade.”

M 10-K · 2026-03-27
CONFIRMATION NETWORK

Outsiders and cross-asset links

0 outsiders confirming
M → HYGPositive historical lead/lag · strength 0.15
M → UNGInverse historical lead/lag · strength -0.12

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

No high-confidence filing-linked outsiders are available for this group yet.

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately
MASO

2/2 active1 rising · 1 falling

MemberUnusual activityToday's moveRead now
MMacy's, Inc.
Most unusual · 100/100
-4.8%
Active; unclassifiedHistorical role unavailable
ASOAcademy Sports and Outdoors, Inc.
Elevated · 80/100
+5.9%
Active; unclassifiedHistorical role unavailable
View exact member values
TICKERCompanyRole nowTodayObserved historyTrader interpretation
MMacy's, Inc.Most unusual-4.8%—Most unusual activity in this snapshot; performance direction may differ.
ASOAcademy Sports and Outdoors, Inc.Participating+5.9%—Price participation is not yet confirmed by per-name flow.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome
POINT-IN-TIME LIVE OUTCOMES

Live outcome ledger collecting

0/0 events completed

No completed point-in-time outcome is available yet. New live confirmations are now retained with their exact observation timestamp; statistics appear only after the corresponding candles complete.

No point-in-time live observations have completed yet.
Low structural sample

Only 0 completed episodes across 0 active sessions; treat history as context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support0 daysHow often the cohort identity was observed
Completed episodes0Separate periods of broad group activity
Active sessions0Completed session observations, not trades

Historical cohort observations are not available yet.