07/21/2014 Nope -- still risk on

Some gyrations, but still risk on:

	Small Value	Mid Value	Large Value	Small Growth	Mid Blend	Small Blend	Large Blend	Large Growth	Mid Growth
Finance	1	2	3	7	11	13	16	28	33
Utilities	4	5	6	8	14	15	18	29	37
Industrial	9	10	12	17	19	20	21	47	51
Staples	22	24	26	38	43	45	52	70	72
Healthcare	23	25	27	39	44	46	54	71	73
Materials	30	31	32	48	50	56	63	74	76
Technology	34	35	36	49	55	59	64	75	78
Cyclicals	40	41	42	53	61	62	65	77	79
Energy	57	58	60	66	67	68	69	80	81

If you want to be "technical" this is a late bear market rally -- short lived, but bullish.

That "technical" appraisal was made meaningless by QE, but that's another post.  For now, short term is bullish.