The Fred Report - Sector Review April 2012
Since the last sector review, the markets have stalled at the low end of our target range of 140 – 143 on SPY. Anecdotal sentiment is quite bullish, but the actual numbers remain favorable - our Investor’s Intelligence %Bears model remains elevated, although individual readings are now in the 21 area on that indicator. More time is needed to move sentiment into a sell mode, and the forecast summer rally would likely do this.
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