2000.64 S&P Swing Point
We continue to feel that risk-off market positions are the direction to be followed. The recent tight trading box on the S&P between 1990 and 2011 price levels remains a prominent technical factor with the Swing Point being 2000.64.
The top five fundamental market issues that concern us are in order of importance:
3. Weak Consumer-Strong Manufacturing Relationship
4. Strong Dollar
5. Fed Interest Rate Rise (not really a factor)
At the moment the funny money is chasing the hot fluff, like GoPro, Facebook, and Twitter.
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