The Fred Report - Weekly August 22, 2022

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The daily stochastics on SPY and QQQ have gone into sell recycles, and the weeklies are overbought. Since the indexes have rallied to resistance, it is logical to expect some pullback from this area. Our Put/Call chart suggests that in spite of the very negative anecdotal sentiment, people are not acting too bearish, and that bearishness is falling off.

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