The Fred Report - Mid Week Update April 07, 2010
The IWM had the first close above 70 today. While not everything acted great, this is still significant and suggests the chance of a pullback is becoming less likely. As mentioned, we believe a dominant feature of this summer’s market action will be a rally in the commodity complex, in particular, oil. We continue to feel that the big rise in rates is going to occur in the fall and not now.
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