The Fred Report - Mid Week Update June 13, 2012

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Should this "going aggressively nowhere" continue, and the market close relatively flat for the week (i.e. around 132 or 131), the chances of an advance starting in next week would go up.  Key resistance areas are 133.60 and 135, above these would suggest some more upside as well.  DBC, our favorite broad-based commodity ETF is holding around the key 24 to 25 support area and is oversold. A rally above 25.20 would suggest a test of 26.40 and then 28.

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