Most
of the time, the U.S. stock market looks to 3 factors to support its upward
trend – let’s grade each of the factors:

CONSUMER SPENDING:  I grade this factor a C (neutral).

THE FED AND ITS POLICIES:  I continue to grade this factor an A+ (extremely favorable) because the
FED cannot do much more than it is doing to support the stock market and asset
prices.  And, the FED today (9/18/2013)
announced it intends to continue the highly accommodating policy to stimulate
the economy.

BUSINESS PROFITABILITY:  I graded this factor an A (very favorable).   

NOTE:  the above grades are unchanged from last
week.