The Fred Report - Weekly October 4, 2010
The stock market continues to drift up as it consolidates the best September since 1939. We continue to think that rates are going to rise into the fall and technically there is some justification for this stance as long as the TLT remains below 110. Oil and energy stocks look to be bottoming, which is contrary to normal seasonal tendencies. Asian indexes are improving and leading Europe and the US. This continues to suggest that economic growth is picking up and will ultimately impact the US.
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