SMO Exclusive Market Strength Score -96% and Sector Risk Gauge 2024-08-07 (No New Longs)

The market rallied yesterday 8/6/24 and was unable to follow up today with gains. Here's an update of my market-level gauges after today's action.

Market Strength Score

The Strength Score ranges on a spectrum from -100% to +100%. When it is positive, no new shorts. When negative, no new longs.

The current reading is -96%, an elevated reading that has remained the same for the three days 8/5 through 8/7.

Sector Risk Gauge

The Sector Risk Gauge offers a different perspective on the same topic. This tool cycles clockwise to reflect the ever-changing prevailing risk associated with sectors and their component industries.

These proprietary gauges offer no guarantees.

They offer an objective perspective to measure current market conditions so that un-emotional decisions can be made and repeated regardless of the environment.