The Fred Report - Weekly July 2, 2018
The risk on SPY is to the 220-area, and advisors should be aware this is possible, but obviously it may not happen. Forecasting a larger than average decline in this market has been difficult, to say the least. Most who have tried this have been wrong. Part of what we try to do is identify areas and times of risk, so that we can be prepared to react accordingly. Our biggest concern is a false breakout above 287 that is then reversed. That would target the bottom of the range and quite possibly lower.
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