The Fred Report - Weekly March 29, 2010
We are looking for a correction of no more than 5 – 6% in the SPX, and then a move through the 1200 area resistance. Bonds had a bad week last week and the TLT and BWX especially look weak. We are looking for one more decline in the Petroleum complex into an area that will set up a summer rally in oil and commodity stocks. We note that China is looking attractive and should be bought in here. The EWZ (Brazil) has also tested support and we would try to add positions here.
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