The Fred Report - Monthly June 2015
SPY is slowly advancing but the underpinnings are weakening. MDY also made new highs and looks quite strong relative to the small cap indexes. The Dow Industrials had a negative quarter, which fulfills our forecast of a negative quarter in the first half and SPY was only marginally positive on the quarter. This was not enough to reset the indicators, however. We have higher targets for 2015 especially if stocks can correct over the summer. We continue to expect the market to get intermediate oversold before these higher targets are in play.
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