Macrós (the "Service") is an impersonal, general-circulation publication of market commentary, analytical frameworks, and computed signals derived from publicly available financial data. The Service is operated by the publisher (the "Publisher") at macrós.com.
The Service is published as a bona fide financial publication of regular and general circulation. It is intended solely for educational and informational purposes. Nothing on the Service constitutes investment advice, personalized recommendations, or solicitation to buy or sell any security.
The Publisher is not a registered investment adviser, broker-dealer, or fiduciary. The Service does not provide advice tailored to any individual subscriber's circumstances, financial situation, risk tolerance, or investment objectives. All content is presented impersonally and applies generically to a general audience.
Subscribers should consult a qualified, licensed professional before making any investment decision. Any action taken on the basis of information provided through the Service is taken at the subscriber's sole risk and responsibility.
Subscribers may not rely on the Service as the basis for any investment decision. The Service is general-circulation published content and is not offered, and must not be treated, as a sufficient basis for any trading, investment, or financial decision.
Subscription to the Service does not create any advisory, fiduciary, or agency relationship between the subscriber and the Publisher. The Service is a content product, not a managed account, advisory engagement, or financial planning service.
The Service publishes interpretive classifications derived from market data, including but not limited to: regime classifications, signal status indicators, model tier states, and daily written commentary. These outputs describe the state of an analytical framework, not directives to subscribers.
References to model tiers, phase descriptions, or framework state describe what the framework would model in a generic, impersonal scenario. They do not represent recommendations for any subscriber's actual portfolio, and the Service does not publish allocations, position sizes, or capital guidance of any kind.
The Publisher is responsible for the content, framework, and editorial posture of the Service. The methodology and editorial process are proprietary.
Past framework signals, regime classifications, or commentary do not guarantee future results. Markets are inherently uncertain. The Publisher makes no representation that the framework will identify future market regimes correctly or that any signal will produce profitable outcomes.
The Service is offered to subscribers located in countries throughout the Americas. Some countries may be restricted due to applicable sanctions or regulatory limitations. Subscribers must be at least 18 years old and located in a country where the Service is offered. The Publisher reserves the right to decline or terminate subscriptions from any jurisdiction at its discretion.
Paid subscriptions are billed monthly through a third-party payment processor. Subscribers may cancel at any time. Cancellation takes effect at the end of the current billing period. The Publisher does not provide pro-rated refunds for partial months unless required by applicable law.
By subscribing, the subscriber authorizes recurring monthly charges to the payment method on file until cancellation.
Subscribers agree not to: (a) redistribute, resell, or republish Service content to non-subscribers; (b) use automated tools (scrapers, bots, headless browsers) to harvest content; (c) reverse engineer or extract the underlying framework logic; (d) share login credentials or subscriber-only URLs with others; (e) use the Service in any unlawful manner.
Violation of these terms may result in immediate account termination without refund.
All Service content, including framework definitions, commentary text, visual designs, code, and the "Macrós" name and brand, is the property of the Publisher and is protected by copyright and trademark law. Subscribers receive a personal, non-transferable license to access and view content during their subscription period.
To the maximum extent permitted by law, the Publisher shall not be liable for any direct, indirect, incidental, consequential, special, or punitive damages arising out of or related to use of the Service, including but not limited to investment losses, missed opportunities, data inaccuracies, computation or display errors, model errors, service interruptions, or actions taken in reliance on Service content.
This limitation applies regardless of the form of action, whether framed in contract, tort, negligence, strict liability, statute, or any other theory, and applies even if the Publisher has been advised of or might have anticipated the possibility of such damages.
This limitation expressly includes loss or injury caused in whole or in part by the negligence of the Publisher, whether that negligence is sole, joint, concurrent, active, or passive. The subscriber and the Publisher intend this paragraph to release the Publisher from the consequences of its own negligence, and this sentence is included so that intent is stated in specific and conspicuous terms.
This limitation does not purport to exclude or limit liability for fraud, for wilful misconduct, for gross negligence, for personal injury or death caused by negligence, or for any other liability that applicable law does not permit to be excluded or limited.
The Publisher shall not be liable for any decision made or action taken by any subscriber, or by any other person, in reliance on any content, classification, output, or commentary published through the Service, whether that person obtained it as a subscriber or from any other source.
The total aggregate liability of the Publisher to any subscriber for any claim arising out of the Service shall not exceed the greater of (a) the amount paid by that subscriber to the Publisher in the twelve (12) months preceding the claim, or (b) one hundred United States dollars ($100).
The preceding paragraph does not apply to any liability excluded from limitation by the fourth paragraph of this Section.
The subscriber's sole and exclusive remedy for dissatisfaction with the Service is to stop using it and to cancel the subscription in accordance with Section 7.
Some jurisdictions do not allow the exclusion or limitation of certain damages or of implied warranties. Where a jurisdiction does not permit a limitation set out in this Section or in Section 11, that limitation shall apply to the greatest extent that jurisdiction permits, and the remainder of these Terms shall remain in full force.
The Service is provided "AS IS" and "AS AVAILABLE" without warranties of any kind, express or implied, including but not limited to merchantability, fitness for a particular purpose, accuracy, or non-infringement.
Subscribers agree to indemnify, defend, and hold harmless the Publisher, and any successor or assign of the Publisher, from and against any claim, demand, loss, liability, damage, cost, or expense, including reasonable attorneys' fees, arising directly or indirectly out of the subscriber's use of or reliance on the Service, the subscriber's breach of these Terms, the subscriber's violation of any applicable law or regulation, or the subscriber's infringement of any right of a third party. This obligation survives cancellation of any subscription and termination of these Terms.
The Publisher may update these Terms from time to time. Material changes will be communicated via email or via a notice on the Service. Continued use of the Service after such notice constitutes acceptance of the updated Terms.
These Terms are governed by the laws of the State of Texas, without regard to conflict of law principles. Any disputes shall be resolved in the courts of that jurisdiction.
Please read this section carefully. It affects your legal rights, including your right to file a lawsuit in court.
Any dispute, claim, or controversy arising out of or relating to these Terms or the Service, including its formation, interpretation, breach, or termination, shall be resolved exclusively by binding individual arbitration administered by the American Arbitration Association under its Consumer Arbitration Rules, rather than in court, except that either party may bring an individual claim in small claims court if it qualifies. Disputes about billing, subscription charges, renewal, or cancellation are particularly suited to small claims court, and nothing in this Section discourages either party from bringing such a claim there. Where an in-person hearing is held, it shall take place in the county or equivalent district in which the subscriber resides, unless the parties agree otherwise. The subscriber may instead elect that the arbitration be conducted by telephone, by video, or on written submissions where the applicable rules permit. The AAA Consumer Arbitration Rules cap the filing fee payable by a consumer and require the business to pay the remaining arbitration fees and the arbitrator's compensation; the Publisher will pay those fees as those rules require. Where the amount in controversy is ten thousand dollars ($10,000) or less, the Publisher will pay all arbitration fees, including any filing fee otherwise payable by the subscriber. For any claim above that amount, the Publisher will pay the subscriber's share of any filing fee where the arbitrator finds the claim was not frivolous. This agreement to arbitrate is governed by the Federal Arbitration Act.
Informal resolution. Before initiating arbitration or any court proceeding, other than an individual claim in small claims court, the party raising a dispute shall first send written notice to the other party in the manner set out in Section 24. The notice shall state the name and contact information of the party giving it, describe the dispute, and state the relief sought. The parties shall then have thirty (30) days from the date the notice is sent to resolve the dispute informally. Neither party may initiate arbitration or a court proceeding until that period has elapsed. All applicable statutes of limitation and filing deadlines are tolled while the period runs. This requirement applies equally to the subscriber and to the Publisher.
Waiver of jury trial. The subscriber and the Publisher each knowingly and voluntarily waive any constitutional or statutory right to sue in court and to have a trial before a judge or a jury in respect of any dispute subject to arbitration under this Section. There is no judge and no jury in arbitration, and review of an arbitration award by a court is very limited.
Authority of the arbitrator. The arbitrator has exclusive authority to resolve any dispute, including any dispute about the interpretation, applicability, enforceability, revocability, scope, or validity of this arbitration agreement or any part of it, and may grant motions dispositive of all or part of any dispute. The one exception is that any dispute about the validity or enforceability of the class action waiver in the following paragraph shall be decided by a court of competent jurisdiction and not by the arbitrator. The arbitrator shall issue a written award stating the essential findings and conclusions on which it is based, including the calculation of any damages awarded.
Class action waiver. The subscriber and the Publisher each agree that any arbitration or proceeding shall be conducted only on an individual basis and not in a class, consolidated, or representative action. The arbitrator may not consolidate more than one person's claims and may not otherwise preside over any form of a class or representative proceeding. If this class action waiver is found unenforceable as to a particular claim or request for relief, that claim or request shall proceed in court, severed from any remaining claims subject to arbitration.
Right to opt out. A subscriber may opt out of this arbitration agreement by sending written notice to the Publisher, in the manner set out in Section 24, within thirty (30) days of first accepting these Terms. The notice must state the subscriber's name, the email address associated with the account if any, and an unequivocal statement of the intent to opt out of arbitration. An opt-out notice is effective only if sent by the subscriber on the subscriber's own behalf. Opting out of arbitration does not affect any other provision of these Terms, including the class action waiver in the preceding paragraph, which remains in effect for any court proceeding to the extent enforceable.
Coordinated filings. If ten (10) or more arbitration demands of a substantially similar nature are filed against the Publisher within ninety (90) days of one another, and counsel for the claimants is the same or coordinated, the parties agree that the demands shall be administered in batches of up to twenty (20) demands per batch, with each batch treated as a single arbitration for the purpose of filing and administrative fees, and batches proceeding concurrently to the extent the administrator's capacity permits. All applicable statutes of limitation and filing deadlines are tolled for every claimant from the date that claimant's demand is first submitted until that claimant's arbitration concludes. After the first batch concludes, the parties shall participate in a single global mediation session covering all remaining demands, with the mediation fee paid by the Publisher; if the mediation does not resolve the remaining demands, the remaining batches proceed. No award or ruling in any arbitration shall have precedential or preclusive effect in any other arbitration, and no claimant is bound by the outcome of any proceeding in which that claimant did not participate. This paragraph governs administration and fees only; it does not limit any claimant's right to an individual arbitration, an individual arbitrator, and an individual award. If any part of this paragraph is found unenforceable, it shall be severed and the remainder of this Section 15 remains in effect.
Nothing in this section prevents either party from seeking injunctive or other equitable relief in court for infringement or misuse of intellectual property.
Any claim or cause of action arising out of or related to the Service or these Terms must be commenced, whether in arbitration under Section 15 or in court, within two (2) years after the claim or cause of action accrues, or it is permanently barred, except where a longer period is required by applicable law.
If any provision of these Terms is held unenforceable, that provision shall be limited or severed to the minimum extent necessary, and the remaining provisions shall remain in full force and effect.
The subscriber may not assign or transfer these Terms or any subscription, in whole or in part, without the Publisher's prior written consent. The Publisher may assign these Terms, in whole or in part, to an affiliate or to a successor in connection with a merger, acquisition, reorganization, or sale of all or substantially all of its assets. These Terms bind and benefit the parties and their permitted successors and assigns.
No failure or delay by the Publisher in exercising any right under these Terms operates as a waiver of that right. No waiver by either party of any breach or default under these Terms is a waiver of any preceding or subsequent breach or default, and no waiver is effective unless made in writing.
The Publisher is not liable for any failure or delay in performance caused by an event beyond its reasonable control, including an act of God, natural disaster, war, terrorism, civil disturbance, epidemic, labour action, failure or interruption of electrical power or telecommunications, internet or hosting provider outage, failure or interruption of an upstream market data provider, or governmental action. Where such an event prevents or delays publication, the Publisher's obligations are suspended for the duration of the event.
These Terms, together with the Privacy Policy, constitute the entire agreement between the subscriber and the Publisher regarding the Service, and supersede all prior or contemporaneous statements, representations, marketing materials, and understandings, whether written or oral. No statement made outside these Terms, including any statement on a marketing page or in correspondence, modifies these Terms.
The subscriber consents to receive these Terms, the Privacy Policy, notices under Section 13, billing and renewal notices, and any other communication relating to the Service in electronic form, by display within the Service or by email to the address on file. The subscriber agrees that an electronic record satisfies any legal requirement that such a communication be in writing, and that an electronic assent satisfies any requirement of a signature. The subscriber is responsible for keeping the email address on file current.
Sections 2, 3, 4, 5, 9, 10, 11, 12, 14, 15, 16, 17, 18, 19, 21, 22, and 24 survive termination, cancellation, or expiration of any subscription and of these Terms, and remain in full force with respect to any claim arising from the period of the subscriber's use of the Service.
Questions about these Terms may be directed to the Publisher via the contact information provided on macrós.com.