Before revision:  A systematic dependence of the cluster entropy function S(\tau,n) on the horizon M has been evidenced in the analysed assets. Hence, the cluster entropy function is integrated over the cluster  \tau to yield a synthetic indicator of price evolution: the\emph{Market Dynamic Index I(M,n) . Moreover, the\emph{Market Horizon Dependence\par   defined as H(M,n)=I(M,n)-I(1,n) is calculated and compared with the values of the horizon dependence of the pricing kernel with different representative agent models obtained by a Kullback-Leibler entropy approach  .
After revision:  A systematic dependence of the cluster entropy function S(\tau,n) is integrated over the cluster \tau to yield a synthetic indicator of price evolution: the\emph{Market Dynamic Index I(M,n) . Moreover, the\emph{Market Horizon Dependence\par defined as H(M,n)=I(M,n)-I(1,n) is calculated and compared with the values of the horizon dependence of the pricing kernel with different representative agent models obtained by a Kullback-Leibler entropy approach .