The Fred Report - Weekly April 18, 2022
While this is still intermediate-term negative, there are a couple of favorable patterns that could spark a short-term rally. We would not be surprised to see an up week. The question we have to ask is why, if optimism is as low as the AAII survey suggests, has there been no panic put buying? We think the reason is that people continue to feel that when the war is over ll will be well, in contrast to our view is that the problems we are having are not caused by the war. If Municipal Bond ETFs go much lower, the downside target will be the actual 2020 lows.
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