The Fred Report - Weekly August 7, 2023

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SPY is testing support in the 446 to 444 area, and if this can hold for a few days this may have been it for a correction.  Even if you are in IJR, watch IWM, because if it can move above 200 this could provide a “kick” to both of these.  We would be careful if GLD starts to hit new lows.

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