Riskdial almost unchanged @ -11.  -4 is not a material change. What troubles me is that minute moves in the markets continue to produce changes in the score.  This does not happen within well-established trends (which this, at this time, obviously is not) and is another sign of instability to come in the near future.   For example, many a time equities back off over 1% and the riskdial stays unchanged near +100, indicating a normal market digestion. But not now, very small moves move it. The market continues to oscillate around 2864, the pivot. The Deviations green area does not come in till SPY 278.1 and it is remarkable how it is contracting inward from both directions. Once the market breaks through the standard deviations and expands them, a powerful trend will emerge. But that will take several more days now.

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

We are in Daily & Monthly Risk On, with 40% in equities and rest still invested in TLT. Which seems strangely appropriate in this trendless & nervous environment.

 

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