The FRED Report

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The Fred Report - Mid Week Update August 31, 2011

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This does not change our forecast of a retest of the lows after a test of the 123 – 125 area on SPY.  % bears has increased again, to 36% – improving our model, so the healing process continues.  We realize that should stochastics roll over and the moving averages cross back negative – another very sharp down-leg should occur which will take us to new closing lows.  The agricultural commodities have a seasonal tendency to rally into September.


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