The Fred Report - Weekly May 8, 2023

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We would expect this week to be down, but please recall, that our forecast top of the range is 420 to 440 – it is possible that we break above 420 and if SPY fails there it should move quickly to the bottom end of the range.  Small cap generally outperforms coming out of a recession, so the action here suggests we may be going into recession, and not in recession now.

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