The Fred Report - Weekly April 20, 2015

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Stocks had a bad day Friday, failing at the 210 – 212 area on SPY and pulling back once again. This area is resistance and the daily stochastic is turning negative on this movement.  We prefer to use our SPY support levels of 204, then 198 as areas of support. If these break, then a decline could be violent due to low bearish sentiment.

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