The FRED Report

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The Fred Report - Mid Week Update October 30, 2019

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SPY has made all-time highs as we have forecast. Obviously, this means trading indicators are overbought. In other words, new highs and overbought readings can also spark consolidation and a potential pullback.  A close above 82 in IJR, and above 200 on IYT would signal the start of a yearend rally.  UUP is a multiyear breakout and unless below 26 this is a strong chart suggesting higher prices.

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