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:

1. ISIS

2. Ebola

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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