The big news this month is the S&P 500 moved to overweight based on the momentum it has showed over the last several months. The model is optimistic, but cautious should any significant dips occur. Developed markets also remain overweight, as they have showed strength with no signs of turning around. For the first time since this model has started, there are not underweight asset classes. International REITs finally moved out of underweight, after a long (and unprofitable) prediction of underweight. Gold went from overweight to average as it appears to be in a trading range for the foreseeable future.