The Fred Report - Mid Week Update June 2, 2011

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We note that the IWM and MDY  both look stronger than the SPY, and this is a positive.  We still feel that a rally in June is likely, but the risk of a peak in June has increased as well (after a rally).  We continue to have concerns about the Euro and the weaker countries in Europe.  We still expect a rally in the dollar. 

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