The Fred Report - Monthly February 2011

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The forecast test of 130 on the SPY has occurred, and we have fallen sharply from that area, on news of possible regime changes in the Middle East. Such a surprise, when the indicators suggest the market is vulnerable, often leads to a sharper correction than would otherwise occur. We have felt that the biggest opportunity of 2011 would be a buy signal after a correction, and it is possible that the correction has started now. If so, indicators will become more oversold than they have so far.

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