The Fred Report - Monthly September 2011
Last month, we noted that indicators suggested a decline was probably. We have felt that the biggest opportunity of 2011 would be a buy signal after a spring correction. While an intermediate buy could still occur, it will likely not occur until the end of the year. Caution flags remain out. How the market treats the next oversold readings is key to the rest of 2011. We believe there is a strong possibility for a retest of the August lows – and it is too early to say whether it will be successful or not.
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