The Fred Report - Mid Week Update January 12, 2012

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We remain bullish but acknowledge that there is an increasing chance that a correction off this rise could start late in the week or next week.  We would like to see a bit more strength in the broad based NYA and IWM.  The DIA has broken out, but this may be a classic case of the “Generals” leading the charge, an unstable situation for now, but one that can certainly be corrected.  We have concern that the McClellan Oscillator is at +170 and we have not broken through most of the resistance.

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