The FRED Report

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The Fred Report - Mid Week Update June 22, 2011

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What would be ideal would be some further rally/consolidation to keep the SPY up in this area (we do not think it can go higher than132 – 133), then a sell-off into the end of the month of June.  HYG especially looks interesting and traders can start to accumulate as this will likely trade in line with stocks.

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