The Fred Report - Weekly July 18, 2016

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We have seen another sharp advance in bullish sentiment, this time from 41 to 50% bulls in just over 2 weeks. This is similar to the advance we saw before Brexit, and if there is a market surprise the result could now be the same – a violent, sharp drop.  Both the DXY and UUP have built what look like bull flag formations on daily charts. We remind all readers that our forecast has been for a stronger dollar in the second half of the year, and a move above 25.07, targets 25.50 and likely higher.

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