DISCLAIMER: The information provided herein represents the opinion of the author, and is not intended to be a forecast of future events, or a guarantee of future results. This report is for informational purposes only, is not an offer to buy or sell any specific security, and is not intended to provide specific investment advice because it does not take into account the differing needs of individual clients. Clients seeking investment advice specific to their financial profiles and goals should contact their financial advisor. This report is based upon information that the author believes to be reliable, but no representation is made by the author as to its completeness or accuracy. This report is not a complete analysis of every material fact concerning any company, industry or security. The author assumes that it will be read in conjunction with any other available reports and data. Opinions expressed herein are subject to change without notice. No investor should rely on the views, opinions or any suggestions contained herein. Investors are advised to consult with their own individual advisers on their specific situation before taking any action based on any information contained in this report.

Charts are courtesy of Optuma                Data courtesy of Bloomberg, Inc.

The Weekly Speculator® and The Weekly ETF Study are courtesy of Marketfield Asset Management LLC.