The Fred Report - Mid Week Update April 13, 2011
Stocks have, so far, sold off this week, and while we still have targets of 135 on the SPY (SPDR S&P 500 Trust), our real concern is the market correction into May we have been forecasting may have begun a bit early. We note that ETFs such as the MDY and IWM have broken down through short-term support, and these have been market leaders. Should we decline into May the setup should be here that we have been looking for, for a strong move up in the second half of the year. We will look to buy a move in DBC to the 28 – 30 area if we get a signal to do so.
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