The Fred Report - Monthly June 2012
Stocks corrected to our forecast area of 132 and resolved the overbought condition on most indicators. What should have been a strong buy pattern has, however, failed. This is a concern. We expected a summer rally which could end in the most significant decline of 2012.Unless this is repaired soon, we may simply decline. Sentiment indicators are starting to deteriorate and put/call indicators are showing some complacency in our view.
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