The Fred Report - Weekly August 5, 2024

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We ran the models on SPY, QQQ, and IJR. While all of them pulled back last week, IJR remains the strongest by far.  If QQQ closes below 445, then next support level is 400 and then 360.  XLE has moved down to the bottom of a trading range. There are layers of support between 88 and 85 that should hold at least the first part of this decline.



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