The Fred Report - Monthly March 2012
Stocks have rallied strongly and exceeded the 2011 high on SPY as forecast. It is not surprising to see overbought readings on some indicators as this occurs. Last November, we forecast a test of 1400 – 1430 on SPX, and stocks are close enough to this area that a correction could occur at any time, but we still expect to see a test of the low 1400’s.
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