The Fred Report - Monthly August 2010
While we thought the last decline would occur after a summer rally, we did feel it would be the worst correction since the 2009 lows. Sentiment remains very negative as the market advances, a contrarian plus. Overall, the message of the market seems to be that this has been a normal correction, and not a new bear market. Should the market continue to advance, new highs for the year could be seen before the next significant correction. Failure in here could imply a test of the recent lows, or new lows for the year. We remain positive, while observing risk management parameters.
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