The Fred Report - Sector Review June 2012
Since the last sector review, the markets corrected below our projected range of 134 -132 on SPY, but have moved quickly back above it, suggesting a false breakdown may have occurred. Our Investor’s Intelligence %Bears model has weakened, although individual readings are now in the 27 area on that indicator. More time is needed to move sentiment into a sell mode, and a summer rally would likely do this.
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