The Fred Report - Weekly July 9, 2012
We expect 143 on SPY this summer but this is not that far away. Our interpretation of what the market is saying now is that, while momentum indicators remain bullish, as does seasonality, economic indicators area weakening enough to worry market participants, and they are taking steps to prepare for a decline. We continue to recommend Preferreds and Corporate bonds in the US market, rather than treasuries.
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