The Fred Report - Weekly July 19, 2010
We note that Transportation stocks, the Mid-caps, and other indexes still remain in positive configurations. While the bonds still look weak chart-wise to us, our accumulation model suggests that they still have a bit more choppiness before embarking on a sustained move to the downside. We expect a test of 115 to 114 on the GLD. We continue to like currencies vs. the dollar, especially the Yen (FXY).
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