Even with the strong advance in the stock market the last few days the technical picture that has developed over the past couple of months has not changed. The tone of the market changes from positive to negative on a dime with no clear trends developing. The market remains in a trading range.
Our model portfolios currently have no exposure to the stock market. Since our low volatility bond/income fund portfolios continue perform well we can ignore the day-to-day volatility in the stocks.
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