Riskdial @ -16, well down on the day. This constant movement either side of neutral basically says not to chase. Whatever trend there is, it is weak and vulnerable to quick reversals. It is a low volatility environment and sell puts rather than own outright for now.
The market has broken below the Deviations centre line at 295. This could easily signify more weakness and gap fills all the way to 290 area. But everything is still trendless, unless the Riskdial goes well negative. -16 is not much intensity, as yet.
A stock to look at today is: BF.B (buy on all indicated pullbacks). There are approximately 60 stocks in the S&P 500 with a perfect trend score and all fairly close to, or making new all time highs.
We are in Risk OFF. After today, it is unlikely that we get a risk ON switch in the model this week.