The Fred Report - Weekly April 11, 2011
We have an outstanding target of 135 on SPY, before a correction should occur into May. We remain concerned about a rise in rates in the second half of the year, and should we be wrong this will occur sooner rather than later. Oil has continued to advance and the USO (United States Oil Fund) has gapped through the key 44 area, suggesting higher oil prices could continue at least through the end of this week.
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