Riskdial @ -1 today. Quite some damage and about as neutral as could be. Just shows you that this market has no oxygen anywhere near x17 forward earnings.

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 market is close to the middle of the Deviations chart and is doing exactly as was expected, bleeding some ahead of G20 at the week-end.

A stock to look at today is: MCD (buy on all indicated pullbacks).

We are still in Monthly, Weekly and Daily Risk Off, having exited the Counter Trend signal.