Risk On Index Topped on 9/5/14

Our proprietary Risk On/Risk Off Index topped out on 9/5/14. This was the first signal since the start of the last cycle of Risk On indicated on 8/27/13.  The Index rose 23 % during that cycle.  Components of the index are six ETF’s:

SPY, QQQ, TLT, GLD, USO, DBC, UDN