Stocks continue their 5 Wave sideways correction. If this is accurate, we can expect one more pullback before the breakout. The S&P has retraced much of the coronavirus pandemic melt down, however it appears to be having trouble with breaking 2977. If it can’t breakout from here, expect a dip back down to the 2500’s. The Kovach OBV remains strong, indicating that the S&P could be building up pressure for a breakout.

Best Elliott Wave for Stocks

5 Wave corrective phase in stocks.

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