The Fred Report - Mid Week Update May 11, 2016

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One sign a negative outcome is likely would be a move below 204 on SPY that would target 202 and 198 almost immediately. Another thing we would be leery of would be new highs by SPY or DIA that are unconfirmed and fail - a false breakout would be a concern.  GLD is in strong condition unless it breaks 113; in fact a test of 115 would be a positive.



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