Riskdial improved to +59. Despite the market backing off. This is healthy longer term. SPY has also backed off slightly from the red area in Deviations, as it should. More consolidation – backing and filling – would be healthy. It will correct either through price or time.
The MAs on the Daily Model are now positive (triggered Thursday 18th April, as explained). The Weekly Model is likely to trigger long equities in 2nd week of May. 2864 is the level I would like SPX to trade by then.
A stock to look at today is: AZO (buy on all pullbacks).
We are in Daily Risk On, with 20% in equities and rest still invested in TLT.
Odds heavily favor the upside in equities.