The Fred Report - Monthly February 2010
We are seeing the short-term decline in US stocks we wanted to see to turn the January Barometer negative. However, sentiment remains negative and most articles suggest the January Barometer does not apply. The decline is also occurring later than we wished to see, and intermediate indicators may need more time to correct because of this. Overall, the message of the market seems to be that more backing and filling is in order, with lower lows a possibility, before the next strong advance.
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