The model score today improved to +3. As I said yesterday, the most probable course of action now (we always have to play the percentages) is a retracement off 2864 which lasts some time and allows the moving averages to catch up and then cross, giving a buy signal for risk. If the daily model scores improve more, despite temporary market weakness to say, 2775 or so, that will be almost assured.
UTX, COP & EVRG are the most improved stocks today and you should see if they have a place in your portfolio.
We are still in full Risk Off, invested in TLT.
A few words about the FOMC action yesterday: the dovish stance is good for bonds, but it is also good for growth stocks such as the ones contained in XLK and bad for XLF. Which way this eventually resolves is still in doubt, my guess is up for equities but after a consolidation spell as described above. Every day we get closer to a crossover and a buy signal for equities and risk on.
We are now very near to a big impulsion moment, either up or down. Odds are beginning to favor the upside.