The Fred Report - Weekly June 21, 2021
Keep watching IYT, as a daily recycle here should be the signal that a summer rally is getting under way. The first scenario is the most likely in our view, which is that TLT trades up to 150, and builds a topping formation that ultimately leads to lower prices, and higher yields. GLD challenging the gap at the 170-area is our minimum expectation for a countertrend rally. Be careful when the daily stochastic rolls over, as the Accumulation model did not show significant buying on this decline.
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