S&P 500, Dow Jones Global ex-US, Gold, Bloomberg Commodity Index returns exclude reinvested dividends (gold does not pay a dividend) and the three-, five-, and 10-year returns are annualized; the DJ Equity All REIT Total Return Index does include reinvested dividends and the three-, five-, and 10-year returns are annualized; and the 10-year Treasury Note is simply the yield at the close of the day on each of the historical time periods.

Sources: Yahoo! Finance, Barron's, djindexes.com, London Bullion Market Association.

Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly. N/A means not applicable.

• Because of their narrow focus, sector investing will be subject to greater volatility than investing more broadly across many sectors and companies.
• Government bonds and Treasury Bills are guaranteed by the U.S. government as to the timely payment of principal and interest and, if held to maturity, offer a fixed rate of return and fixed principal value. However, the value of fund shares is not guaranteed and will fluctuate.
• These views are those of Peak Advisor Alliance, and not the presenting Representative or the Representative's Broker/Dealer, and should not be construed as investment advice.
• This newsletter was prepared by Peak Advisor Alliance. Peak Advisor Alliance is not affiliated with the named broker/dealer.
• Corporate bonds are considered higher risk than government bonds but normally offer a higher yield and are subject to market, interest rate and credit risk as well as additional risks based on the quality of issuer coupon rate, price, yield, maturity, and redemption features.
• The MSCI all Country World Index is an unmanaged, free float- adjusted, market capitalization-weighted index composed of stocks of companies located in countries throughout the world. It is designed to measure equity market performance in global developed and emerging markets. The index includes reinvestment of dividends, net of foreign withholding taxes.
• The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. You cannot invest directly in this index.
• All indexes referenced are unmanaged. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment.
• The Dow Jones Global ex-U.S. Index covers approximately 95% of the market capitalization of the 45 developed and emerging countries included in the Index.
• The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market.
• Gold represents the afternoon gold price as reported by the London Bullion Market Association. The gold price is set twice daily by the London Gold Fixing Company at 10:30 and 15:00 and is expressed in U.S. dollars per fine troy ounce.
• The Bloomberg Commodity Index is designed to be a highly liquid and diversified benchmark for the commodity futures market. The Index is composed of futures contracts on 19 physical commodities and was launched on July 14, 1998.
• The DJ Equity All REIT Total Return Index measures the total return performance of the equity subcategory of the Real Estate Investment Trust (REIT) industry as calculated by Dow Jones.
• Yahoo! Finance is the source for any reference to the performance of an index between two specific periods.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful.
• Past performance does not guarantee future results. Investing involves risk, including loss of principal.
• You cannot invest directly in an index.
• Consult your financial professional before making any investment decision.
• Stock investing involves risk including loss of principal.

Sources:

http://blogs.barrons.com/incomeinvesting/2016/10/07/september-payrolls-disappoint-mildly-unemployment-rises-to-5/

http://www.wsj.com/articles/hilsenrath-jobs-data-ensures-no-fed-rate-increase-in-november-1475846564(or go to https://s3-us-west-2.amazonaws.com/peakcontent/+Peak+Commentary/10-10-16_WSJ-Hilsenrath_Jobs_Data_Ensures_No_Fed_Rate_Increase_in_November-Footnote_2.pdf)

http://www.nytimes.com/2016/10/08/business/economy/jobs-report-unemployment-wages.html?_r=0(or go to https://s3-us-west-2.amazonaws.com/peakcontent/+Peak+Commentary/10-10-16_NYTimes-US_Economy_Showing_Resilience_Added_156000_Jobs_Last_Month-Footnote_3.pdf)

http://www.nber.org/cycles/cyclesmain.html

http://www.telegraph.co.uk/sponsored/finance/investment-library/low-risk-investments/10911755/stock-sectors-cyclical-defensive.html

https://www.ft.com/content/724e9658-72d7-11e6-bf48-b372cdb1043a (or go to https://s3-us-west-2.amazonaws.com/peakcontent/+Peak+Commentary/10-10-16_FinancialTimes-Tech_and_Financials_Lead_Rotation_in_US_Stocks-Footnote_6.pdf)

https://www.msci.com/end-of-day-data-search(or go to https://s3-us-west-2.amazonaws.com/peakcontent/+Peak+Commentary/10-10-16_MSCI-09-30-16_End_of_Day_Data_Search-Footnote_7.pdf)

http://www.brainyquote.com/quotes/quotes/w/williamsha164317.html

ADV & Investment Objectives: Please contact The Dowling Group if there are any changes in your financial situation or investment objectives, or if you wish to impose, add or modify any reasonable restrictions to the management of your account. Our current disclosure statement is set forth on Part II of Form ADV and is available for your review upon request.