The Fred Report - Weekly January 27, 2014
The key number on SPY is 177.32, the lows of last month. If this is violated, more downside could be expected. Per the seasonal trading rules we use, we will remove USO from our bucket list Friday January 31st. EEM has support in layers at 36 – 33 and given surprising weakness in accumulation models at the end of last week the lower ends of this could be tested.
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