The FRED Report

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The Fred Report - Mid Week Update February 23, 2012

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TLT has tried to break down below 116 and has not managed the two successive closes below 116 we expect to see before this market finally breaks.  The Yen (FXY) is rapidly approaching 120 and a break of that area suggests a test of 115 or lower.  We also point out that DBO has broken above 30-area resistance and a Friday close above this number would complete a head and shoulders bottom on oil.

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