Risk appetite is always worth following - Currently, normal

We have been following the Wilmot Risk Appetite Index for decades, when it was first called the Credit Suisse RAI, as developed by Jonathan Wilmot, who is now in private practice. It will be provided to investors through HedgeIndex LLC in the coming weeks, along with their broad set of alternative indexes. The basic construction is provided below. 

The current reading indicates that risk appetite is within the normal range, though it is rising. There may be individual assets with extreme values, but the RAI does not indicate a general market extreme.