Riskdial @ +32 today. Further small improvement. Does not have too much significance on a day-to-day basis, however if this improvement holds for several days, we will be ready for some sort of breadth thrust in equities.
I still consider 2864 SPX as a swing level and funnily enough that is exactly where the middle line of Deviations comes in. The Fed indicated an easing bias, which should make equity yields still attractive for a few months yet. The Deviations red line today comes in @ SPX 298, and is completely flat in its slope. That is about as much as the market can go up in the short term. But…a few days up here without any setbacks…and the market will be ready to break up.
A stock to look at today is: SPGI (buy on all indicated pullbacks).
We are still in Monthly, Weekly and Daily Risk Off. We are approaching Daily Risk On though.