Riskdial @ -18, +6 with the squeeze. Meh on the downside, meh on the upside. I don’t believe we are yet ready to establish a lasting trend.
The market has broken below the Deviations center line now at 294.1 and downward sloping, finally. That will be a great spot to attack the downside again. The green area comes in at 283.50. Given that this is also where the x16 Blue Angel comes in, it is well worth a buy, for a trade, first time around down there. None of the Counter-trend models are reacting yet, so it is difficult to have any confidence in sizeable longs until the market enters the green area in Deviations.
A stock to look at today is: EQX (buy on all indicated pullbacks). There are only approximately 40 stocks in the S&P 500 with a perfect trend score today.
We are in Risk OFF. After the last 3 days, it is increasingly unlikely that we get a risk ON switch in the model this week.