Market Update September 1, 2014

Short, Medium and Long term indicators for the S&P 500 are all favorable.  The index itself is in the middle of an up channel.

Currently the S&P is at 2003.  The channel ranges from 1925 to 2050.  So there are 47 points above and 78 points below the current index value in the channel.  I would prefer a 2:1 ratio of upside potential to downside potential.  At a ratio of 47:78 we do not have that 2:1 target.  So I would wait for a slight pullback to put any additional monies into equity index funds or ETFs.

09012014 ^GSPC

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