Today, let's take a quick look at the chart of FedEx's stock. I think it's a good example of what is happening internally in the market.
In the chart below showing the price action of the last four months, you can see the big rally up to around February 6th (when our Psychology Composite moved to P5), the decline in the following 2-3 weeks, then the rally the first week of March. Now, however, the stock price is back down to that early February starting point.
FedEx is a very good stock to measure economic forces in the world, so this pull-back gives some pause about the buoyancy of the economy.
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