The Fred Report - Mid Week Update April 25, 2012
Our target range for a correction has been 134 – 132, and at the lows of this move (around 136) are around 2.00 lower, not a significant amount. We still see more correction as likely, but don’t miss the forest from the trees – if we are wrong in here the market may simply rally from this area. TLT has filled the recent downside gap from a few days ago and weekly indicators suggest another advance could begin here, which should fail in the next few weeks.
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