$SPY Remain cautious and be
patient if nothing else, there are many reasons for investors to stay cautious.
Technically, both the DJIA and the S&P 500 are still under their 100-day
and 50-day averages and the Russell 2000 continues to underperform. On the
earnings front, the strong dollar could become a headwind for many blue chip
stocks. Last but not least, the FOMC decision is due out on Wednesday. Traders
aren’t likely to make big bets before the minutes of this meeting are reviewed.
Yesterday we added four positions
to the Alpha One Model Portfolio to bring the Long allocation in line with the
model recommendations. We added from the
Watch List the following: $AGN, $GMCR, $KNX, and $VRX.
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