The Fred Report - Weekly March 6, 2023

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Understand that while we have seen improvement in indicators and are intermediate-term bullish because of this, the short-term picture is less clear – we still think a low later in March is coming. The recent gap down on GLD on February 3rd illustrates what can happen to a market where there is no accumulation. There is support in the 28 to 27.50 area that should hold for at least a bounce in UUP.

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