The Fred Report - Weekly September 16, 2013
We still have outstanding price projections on SPY around 176, and believe that if this area is going to be tested, this rally should get under way this week. It would appear that the sentiment backdrop may be factoring this week’s bond news, and the reaction to the news could surprise the market, at least from a sentiment standpoint. Gold moved lower and challenged the 126 area looked for in prior letters. It looks to have made a spike bottom, and advisors should start to add GLD to portfolios at this time.
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