Riskdial still negative @ -14.  This small improvement is not material. As highlighted yesterday, small improvements in risk assets are the norm in the 2-3 day timeframe. The Deviations green area does not come in till SPY 275.3, so market could still fall 2-3% before finding a really firm base. Below 2864 we are vulnerable to all kinds on news and volatility events. But breaking and closing the week above would be a very good signal.

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

We are in Daily & Monthly Risk On, with 40% in equities and rest still invested in TLT.

The market is now in a state of flux and a trend will only appear from lower levels.

 

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