Riskdial @ +29 today. Did not see that kind of improvement coming, I must admit. A couple of heavyweight risk off spreads started turning. Does not have too much significance on a day-to-day basis, however if this improvement holds for several days, we will be ready for some sort of breadth thrust in equities.
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 Deviations red line today comes in @ SPX 298, above all time highs and so do the monthly and weekly Bollinger Bands, which are now above 298.00. That is going to be the barrier for the next few days that is almost certain to hold or be retraced.
A stock to look at today is: ZTS (buy on all indicated pullbacks).
We are still in Monthly, Weekly and Daily Risk Off, having exited the Counter Trend signal.