The Fred Report - Sector Review July 2013
Since the last sector review, the SPY has continued to consolidate after exceeding our objective of 156 - 161 for the rally since fall. We still believe the first half of 2013 will be stronger than the second, and economic numbers around the world continue to show evidence of a slowdown. Defensive sectors had big runs in the first half of 2013, which implies sector rotation if the market continues to advance after June.
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