The Fred Report - Mid Week Update July 24, 2013

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SPY closed at 163.45, suggesting a move to our 176-area trading target is at least possible. We maintain our objective of 165 at the end of 2013.  We have had some questions about GLD. We reiterate that this market has had a 50% pullback of the up-move from the 2001 lows, and very likely has made a long-term invest-able bottom.



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