The Fred Report - Weekly June 22, 2015

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On a purely technical level, we continue to see some leadership out of smaller stock indexes, which is bullish and suggests that the economy continues to improve.  The lack of momentum as the Russell 2000 and S&P Mid-Cap Index (S&P 400) in making new highs is surprising.  Oil has gotten overbought but remains in a positive configuration. While there might be some sideways trading as the weekly chart consolidates we continue to look for 67 on the nearby contract for oil.



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