The Fred Report - Monthly October 2014
SPY made a short-term “Alibaba top” as forecast. We still expect a 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 benchmarks are violated.
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