The Fred Report - Monthly July 2015

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SPY had the forecast down quarter, and is oversold enough to rally. MDY also declined and looks quite strong relative to other indexes. The Dow Industrials had two negative quarters, which fulfills our forecast of a negative quarter in the first half. This was not enough to reset the indicators, but it may be enough to spark a short-term rally, and our target of 223 (per our yearly forecast) remains in play. 

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