The Fred Report - Mid Week Update May 16, 2012
We continue to expect a summer rally from this area. We do NOT think Financials will be a leader, and XLF remains an equal weight. Gold has fallen right into the support area we have been looking for at roughly 150. It should hold in here and rally after maybe a couple of choppy days of trading. Accumulation models suggest this could be the last week up for bonds, and one of the reasons we have been looking for a stock rally from this area has been our projection on weekly bonds.
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