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Valuation and fundamentals

October 1, 2016 Jonathan Ravel

Thompson Reuters SPX forward P/E back to 16.94, meaning most weeks since mid July have been hovering near this 17 area. 

Citigroup Economic Surprise Index remains slightly negative. 

I think the market would ultimately prefer robust growth and a small hike. That isn't happening. So these two factors help keep me on the side of "upside limited."

Tags valuation, fundamentals
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