Terms of Service

Effective September 25, 2026 · Version 2026-09-25

Please read this carefully. It includes a binding arbitration agreement and a waiver of class actions and jury trials (section 13), which affect how disputes are resolved. You can opt out of arbitration within 30 days. Nothing on this service is financial advice.

1. Agreement

These Terms of Service ("Terms") are a legal agreement between you and SMI Investments ("we", "us", "our") covering your use of this website, its web applications, alerts and related services (the "Service"). By creating an account, checking the box to accept these Terms, or using the Service, you agree to these Terms and to our Privacy Policy. If you do not agree, do not use the Service.

2. Eligibility

You must be at least 18 years old and able to form a binding contract to use the Service. By using it you confirm that you are, and that the information you give us (including your date of birth) is accurate.

3. Not investment advice

The Service is for information and education only. It is not investment, financial, legal, tax or accounting advice, and it is not a recommendation or offer to buy, sell or hold any security, fund, cryptocurrency or other asset.

We are not a registered investment adviser, broker-dealer, financial planner or fiduciary, and we are not registered with the SEC, FINRA or any state securities regulator. We do not know your financial situation, goals or risk tolerance, and nothing we show is tailored to you, even when it uses your watchlist or settings.
Signals, scores, valuations, fair-value estimates, forecasts, price ranges, "breakouts", option ideas, screens, alerts and backtests are the output of mathematical models applied to historical and third-party data. Models are simplifications, can be wrong, and historical or simulated results do not predict future results. Many of our own tests show signals that did not beat the market; we say so where we know it.
Information about trades by members of Congress, executives, the President or investment funds comes from public filings that are delayed (often by weeks or months), may be incomplete or misread, and is not a basis for trading.
Investing involves risk, including the loss of all of the money you invest. Leveraged and inverse funds, options and cryptocurrencies can lose value very quickly and are not suitable for most people.
You are solely responsible for your investment decisions and their results. Consult a licensed professional before making financial decisions.

4. Market data and third-party content

Prices, fundamentals, filings, news, economic data and other content come from third parties (for example the SEC, the Bureau of Labor Statistics, the U.S. Treasury, Nasdaq and commercial data providers). Data may be delayed, incomplete, inaccurate or unavailable, and we do not verify it. We are not responsible for third-party content or websites we link to. Data is provided for your personal, non-commercial use only.

5. Your account

You are responsible for keeping your password, passkeys and sign-in methods secure and for everything that happens under your account. Tell us promptly if you suspect unauthorized use. You may not share your account, create accounts by automated means, or impersonate anyone. We may refuse, suspend or close accounts at our discretion, including for violations of these Terms.

6. Acceptable use

You agree not to: (a) scrape, crawl, copy, resell, redistribute or build a competing product from the Service or its data; (b) access it through automated means other than a normal browser, except where we publish an interface for that purpose; (c) interfere with or overload the Service, probe it for vulnerabilities, or bypass security or rate limits; (d) upload malicious code; (e) use it for anything unlawful, including market manipulation or insider trading; or (f) help anyone else do these things.

7. Fees and plans

The Service is currently free. Paid plans may be offered in the future; if so, their prices and terms will be presented to you before you are charged, and you will not be charged without your agreement.

8. Intellectual property

The Service, its software, design, text and graphics are owned by us or our licensors and protected by law. We grant you a limited, personal, revocable, non-transferable licence to use the Service for your own non-commercial purposes under these Terms. Feedback you send us may be used by us without obligation to you.

9. Availability and changes

We may change, suspend or discontinue any part of the Service at any time, with or without notice. The Service may be unavailable because of maintenance, outages or events outside our control, and alerts may be late or not delivered. Do not rely on the Service for time-sensitive decisions.

10. Disclaimer of warranties

To the fullest extent permitted by law, the Service and all content are provided "as is" and "as available", without warranties of any kind, express, implied or statutory, including warranties of accuracy, completeness, timeliness, merchantability, fitness for a particular purpose, title and non-infringement. We do not warrant that the Service will be uninterrupted, secure or error-free, or that any information, signal or result is correct.

11. Limitation of liability

To the fullest extent permitted by law, we and our owners, employees, agents and licensors will not be liable for any indirect, incidental, special, consequential, exemplary or punitive damages, or for any loss of profits, trading or investment losses, lost data or goodwill, arising from or related to the Service or these Terms, whether in contract, tort (including negligence) or any other theory, even if advised of the possibility. Our total liability for all claims relating to the Service is limited to the greater of (a) the amount you paid us in the 12 months before the claim or (b) US $50.

Some jurisdictions do not allow certain exclusions or limits, so some of the above may not apply to you. In that case our liability is limited to the smallest amount the law permits.

12. Indemnity

You agree to defend, indemnify and hold us harmless from claims, losses and expenses (including reasonable legal fees) arising from your use of the Service, your violation of these Terms, or your violation of any law or the rights of others.

13. Dispute resolution: arbitration and class-action waiver

Informal resolution first. Before filing a claim, you agree to contact us at an address for legal and privacy requests and try to resolve the dispute informally for at least 30 days.

Binding individual arbitration. Except as stated below, any dispute, claim or controversy between you and us arising out of or relating to the Service or these Terms ("Dispute") will be resolved by binding arbitration administered by the American Arbitration Association under its Consumer Arbitration Rules, rather than in court. The arbitrator's decision is final and may be entered in any court with jurisdiction. The Federal Arbitration Act governs this section.

Class-action and jury-trial waiver. You and we each agree to bring claims only in an individual capacity, and not as a plaintiff or class member in any class, collective, consolidated or representative proceeding. The arbitrator may not consolidate claims or award relief on behalf of anyone other than you. You and we each waive the right to a jury trial.

Exceptions. Either party may bring an individual claim in small-claims court if it qualifies, and either party may seek an injunction in court to protect intellectual property.

30-day opt-out. You may opt out of this arbitration agreement by emailing an address for legal and privacy requests within 30 days of first accepting these Terms, with your name, the email on your account and a clear statement that you opt out of arbitration. Opting out does not affect any other part of these Terms.

Time limit. To the extent permitted by law, any claim must be brought within one year after it arises, or it is permanently barred.

14. Governing law

These Terms are governed by the laws of the State of California and applicable federal law, without regard to conflict-of-law rules. For any matter not subject to arbitration, you and we consent to the exclusive jurisdiction of the state and federal courts located in San Diego County, California.

15. Termination

You can stop using the Service and delete your account at any time from your account settings. We may suspend or end your access at any time. Sections that by their nature should survive (including 3, 4, 8 and 10 through 16) survive termination.

16. General

These Terms and the Privacy Policy are the entire agreement between you and us about the Service. If any part is found unenforceable, the rest remains in effect and that part is enforced to the maximum extent permitted. Our failure to enforce a provision is not a waiver. You may not assign these Terms; we may assign them in connection with a merger, acquisition or sale of assets. We are not liable for delays or failures caused by events beyond our reasonable control. We may update these Terms; if the changes are material we will ask you to accept them again before you continue using the Service.

17. Contact

Questions about these Terms: an address for legal and privacy requests.