The Fred Report - Mid Week Update October 24, 2012
Our portfolio stance is defensive and we see no reason to change this. SPY has filled the gap from September 5 – 6, so if the current support zone is the low it should rally immediately, from here, on very strong breadth. Below the support zone of 141-139 suggests a test of the 133 -131 area is possible. The accumulation models on GLD remain the most attractive of the markets we follow.
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