The Fred Report - Monthly October 2012
Stocks had the forecast summer rally, which was been weaker than average. September rallied as well, and SPY has tested 148 to 150-area resistance. Intermediate indicators remain weak, and most technical indicators suggest waning or negative momentum. New highs in small and mid-cap issues suggest the trend remains up, and improves the overall technical picture, but a sharp drop should occur in the next few months.
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