Start with realised results
Today's Market does not forecast tomorrow. It asks whether stock selection has recently been profitable and whether the typical gain was meaningful. The sample is the current 300 largest Taiwan-listed stocks, measured over the past 20 and 60 trading sessions.
Layer one: the 20-session median return
The median is less distorted by a few exceptional winners than an average. A positive value means the middle stock in the sample gained; a negative value means it declined. The absolute value describes the size of that typical move. The homepage displays the percentage directly and does not apply fixed strong, weak or consolidation thresholds.
A positive result is not automatically strong. A median return near +2% means only that the typical stock gained slightly; compare it with the 60-session result, participation and quartiles before interpreting the environment.
Layer two: participation and selection difficulty
- Below 50% means decliners outnumber advancers.
- Near 50% means gains and losses are split.
- Above 50% means advancers are the majority; the higher the share, the broader the participation.
Participation and return magnitude must be read together. Many small gains can make winners easy to find without producing strong profits, while a handful of large winners does not make the whole market strong.
Layer three: trend and market position
The 20-session number describes the recent move; the 60-session median checks whether it persists. The share of stocks above their 120- and 240-day averages describes market position. An average above 60% is treated as higher-position breadth, while below 40% is lower-position breadth. Position does not predict a reversal.
What the homepage actually shows
The homepage does not assign five market labels. Its small badge states only whether the 20-session median return is positive or negative, then exposes the underlying evidence instead of compressing it into a score.
The 20- and 60-session cards show advancing names, participation, the median return and Q1-to-Q4 return ranges. Quartiles matter because two periods with the same median can have very different distributions. If Q1 remains deeply negative, stocks in the weaker half may still have had a poor experience even while the median was positive.
The breadth panel shows the share above and below each moving average. The index chart can be viewed over three months, six months, one year or three years, with zero defined as the median close for that selected window. Breadth describes how widely a trend is shared; the chart describes relative position. Neither predicts the next move.
Read combinations rather than labels. Positive 20- and 60-session medians with broader participation are stronger historical evidence than a positive 20-day result alone. A positive median with narrow participation calls for checking quartiles and sectors. Negative returns together with shrinking long-term breadth argue for lower exposure and tighter risk control. These are interpretations you make from the displayed data, not conclusions printed by the homepage.