The Fred Report - Weekly September 10, 2018

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We repeat our benchmark numbers that suggest a market decline – 282, and then 278 on SPY. Penetration of those areas would be significant.  This seasonal tendency works much of the time in oil. This implied weakness is supported by the position of the monthly stochastics that suggest some time, a few months at least, of choppy behavior.  China seems close enough to a trading bottom, which could turn into a double bottom and retest into October.

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