Riskdial steady @ +55. Do not read anything into the +4 movement. We had our 2% weakness from the highs, as is usual in May. I still consider 2864 as the swing level of 2019. While above it and while the riskdial holds steady, we are taking a normal pause, backing and filling. But below…different story. These trade talks are causing havoc but the spreads still say it all gets resolved in the end. We will see in the next few days…
The Trump tweet on Sunday wrecked the video levels. Disregard everything, especially volatility. Volatility is now back in a big way in the short term.
A stock to look at today is: DIS (buy on all pullbacks).
We are in Daily & Monthly Risk On, with 40% in equities and rest still invested in TLT.
Odds heavily favor the upside in equities after some healthy backing and filling.