The FRED Report

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The Fred Report - Weekly July 30, 2012

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While from a theoretical standpoint it is possible that the July close will be the high close for this summer rally, sentiment and other indicators suggest continued rally into August.  We think that Europe should rally into the end of August, and might be a good speculative trade here.  XLE seems ready to challenge our initial objective of 72 and could then test 75.


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