Riskdial @ -26, still weak though an insignificant drop of -3 points day over day.  The SPY remains below it’s 50 SMA but under the surface average S&P500 sector correlations have decreased from their extremes (0.90) of the past weeks – an indication that large market participants believe risk is decreasing overall.

The deviations lines have been flat for some time now – a strong indication of a trend-less market and we would not expect a strong trend to emerge until the deviation bands are widened.

A stock to look at today is: FRT (buy on all indicated pullbacks).  There are approximately 100 stocks in the S&P 500 with a perfect trend score and all fairly close to, or making new all time highs, this is an improvement from the 70 or so that were tracking near a perfect score last week.

We are in Daily, Weekly & Monthly Risk Off.

 

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