Why this matters

evidence-backed desk finding

Picture it this way

Picture a crowded room with a narrow exit. Undertow asks whether many holders could try to leave while the doorway is getting tighter. An unscored market stays unknown; it does not become calm.

The catch

PARTIAL means still accruing: a scored tier needs at least 2 measures with a stress percentile at 60+ observations each; an accruing or absent measure is disclosed, never rendered as calm. Research and market data, not investment advice.