Christopher Versace is the Portfolio Manager of the Thematic Growth Portfolio at Fabian Wealth Strategies, as well as the editor of both the long-only "PowerTrend Profits" investment newsletter and "PowerTrader" trading service that utilizes strategies combining stocks, ETFs and options. Lenore Elle Hawkins is a founding partner at the investment advisory firm Meritas Advisors and author of the blog, EllesEconomy.com. She is her firm's chief investment strategist, with a focus on macroeconomic influences while minimizing portfolio volatility and authors her firm's monthly newsletter.

Acquisition is latest move against Amazon.
The sharp jump is indicative of a market that is heavily dependent on momentum rather than fundamentals.
The central bank is telling us that any eventual move upward in rates will be 'gradual.'
Growth stocks are likely to be a source of funds as investors shift their focus to safer havens.
We are likely to see current-quarter GDP forecasts reduced.
Whether a company missed or beat, their stocks have fallen roughly the same amount post-earnings day.
Once again, it appears to have jumped the gun when interpreting the central bank.

Happy Trails to You Real Money Pro($)

As we close out our time today sitting in for Doug Kass, a big round of thanks and applause to two swell fellas that make us (or at least our work here) look far, far better than you should know. Take a bow Jerry Kronenberg, Mark Dodosh and the rest of The Street editorial team -- we could not have done this without you.
In 2014, the S&P 500 experienced the fifth-most daily closes at all-time highs on record. Today, the index is within 3% of its all-time high from last May and looks likely to close this week without making a new 52-week high in the past year. While frustrating for returns, this isn't terribly uncommon, as since 1929 there have been 20 prior periods where the index failed to make a new high over 365 days or more. The longest such streak was 1,457 days from the late 1930s to early 1940s, and the shortest streak was in 1994-1995 at exactly 365 days.
It will be a thematic morning tomorrow.

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volatility is quite low here, and we could see some downsides here in the short term. ...

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