Wow stock prices can decline for a second day in a row during this short-squeezed rally!
Let’s continue our market update with a plot of the key target levels and our algorithmic stock scan of the day.
Here are our new levels for the S&P 500 Index:
In-depth analysis is always provided to members of the Premium Daily Reports – I hope you’ll join and benefit.
Negative divergences in an over-extended rally finally caught up with price with a two-day (so far) pullback.
Here’s a screencap of a chart I shared with members in last night’s strategy report:
The chart simply highlights the three prior retracements – and current pullback – against the current strong rally.
Note negative divergences going into the pullback and the two to three day nature of the prior retracement swings.
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