We were spot on with our analysis in the S&P two days ago, where we predicted it would reject the lower bound of the channel, then make a run for it again. We didn't anticipate stocks to dip so low, but the overall behavior was correct. We did warn you to perhaps enter at lower levels. Current levels should provide enough resistance to see another dip before it makes new highs. The Kovach OBV is picking up, but not very strong comparatively and the Chande is flat, suggesting we may have some retracement before another burst of momentum comes through.
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