The Fred Report - Monthly November 2014
SPY had a very volatile October, and there are reasons to expect more volatility going forward. We still expect an upside test the 203 level on SPY, and possibly 209 as long as support at the 190 area on SPY holds. For now, in spite of last month’s trading, the overall market view remains where it was – neutral, but slightly more attractive than last month – we would be a bit less defensive unless downside benchmarks are violated again.
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