For a given market, sentix Time Differential Index is calculated as the difference between the short-term sentiment and the (medium-term) perception of value. High readings of the indicator are a sign of a positive sentiment which is not supported by investors medium-term conviction, which is a stress factor for the market. In turn, low readings result when there is fear on a short-term basis but a reliable perception of value for the medium-term that is usually supportive for the market.