Riskdial almost unchanged @ -11.  Which is not a material change. Nothing much happened today in spread land to change the current undecided picture.  The Deviations green area does not come in till SPY 277.2 and it is remarkable how it is contracting rapidly inward from both directions. Once the market breaks through the standard deviations and expands them, a powerful trend will emerge. But that will take several more weeks now.

A stock to look at today is: SO (buy on all indicated pullbacks).

We are in Daily & Monthly Risk On, with 40% in equities and rest still invested in TLT. Which seems strangely appropriate in this trendless environment.

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