The Fred Report - Mid Week Update May 18, 2022

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This is the sort of trading we want to see to suggest a rally can last for more than just one day.  This rally could make it to 420 on SPY or so and then fail. Failure at 410 would be a concern, as would a new low before hitting 410.  MUB made a new low today, and TLT was down as well. This suggests interest rate pressure is not going to abate, as we thought it might this week.

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