Time is the toll the market must pay.

The market has changed countless times yet it has opened on schedule for over a century.

This demonstrates:

Change happens within a fixed temporal structure

Not outside of it.

Time is not reactive — it is enforced

• price reacts

• participants react

• volatility reacts

time does not react — it constrains.

edges based on price → decay

edges based on indicators → decay

Time is the only variable the market cannot optimize away.

The market is free to choose price and value —but it is not free to choose time.