The Fred Report - Mid Week Update November 22, 2011

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Stocks have failed at these levels and have done worse than expected – penetrating the 120 area on SPY.  Prices have moved down to oversold on daily indicators, but have just started to turn down on weekly indicators.  Our most likely scenario is the following, the market drops a bit more this week but basically goes dead and then we mount a rally attempt over the next couple of weeks into mid-December. 

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