The Fred Report - Sector Review February 2012
Since the last sector review, the markets have traded through important resistance. Our Investor’s Intelligence %Bears model remains elevated, but put/call ratios have come down, at least on up days. The Inverse Head and Shoulders patterns we alluded to in the last Sector Review have resolved in upside behavior, and US Small Cap stocks have made all time highs. European concerns continue to roil the markets, but our expectation is these will be resolved favorably – Indicators on European stock indexes and currencies have favorable patterns.
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