The Fred Report - Mid Week Update March 16, 2011
We are much less cautious than we have been for a while, as the SPY looks to have completed a successful test of the 126 – 124 area we have been looking. We can rally into the end of the month, when monthly indicators should be overbought as well – and this is what we think should occur. We continue to look for a sharp up-move in the dollar – and a close above 22.10 would suggest this move is now underway.
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