The FRED Report

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The Fred Report - Monthly May 2014

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Stocks look to be at a critical juncture once again. Sentiment remains too bullish, and some corrective behavior now would set the stage for a good second half to 2014.  We moved to defensive in our stock portfolios and expect another pullback into the May/June timeframe. We still think SPY can trade at 203 or so in 2014.


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