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Thursday, February 19, 2015
Fedex in sideways consolidation
The markets have gone into the low volume melt-up as the back door forces are the only thing keeping the market at these levels. The Fed has given the impression that they are more concerned about the recovery than they have been letting on when they released the FOMC minutes a couple of days ago. Fedex is one stock that I follow as an indicator. It seems to be forming a sideways consolidation on the weekly chart like it did before the GFC. The markets seem to just be happy that there will be no rate rise in the near future. I can't say how this will end but I can tell that it will come as a surprise to most when it does let go like it always does.
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