On stocks I continue to view the likely 2014 range in the S&P 500 as between 1625 and 1925.
Early last week, with the S&P 500 at approximately 1750, I suggested that the reward vs. risk in stocks had turned more positive for the first time in many months.
The 70-handle recovery in the S&P 500 over the last five trading days has reversed the upside/downside to Mr. Market back into negative territory.
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