quantguy

Best Ways to Trade the Rally in Stocks

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FX:SPX500   S&P 500 index
Stonks only go up, and have hit the target set from our Fibonacci Extensions. The Elliott wave suggests they could retrace very soon, and this would be a healthy retracement. We did see somewhat of a sell off yesterday. If we are right, the S&P should retrace to 3547. If we are wrong, it will pick up steam and rally around current levels at 3564. The Kovach OBV is very strong, so anticipate the rally to continue. Watch for a dip in the Kovach Chande for a good entry point, which it appears to be doing right now...

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