The Fred Report - Mid Week Update April 4, 2012
We continue to see a correction as long as SPY remains below the upper end of our projected range – 143. We are more concerned for our trading clients and not our investing clients – we think a pullback could test 132, which is not significant for most investors. Our preferred scenario is sort of sideways drift over the next couple of weeks – followed by a sharp drop into a May low, then a good rally. We would add to small and mid-cap names if SPY trades at 132.
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