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Stocks continue to rip and it really seems they are trying everything possible to close the Coronavirus dip. We have only 200 points more to go before reaching all time highs again.

stocks rallying

Stocks looking to close the 200 point coronavirus gap.

Although the S&P 500 has rallied prolifically, it is facing some consolidation which is normal after such a big move. Notice how the it found resistance exactly at our Fibonacci Extension level. If you are not paying attention to our commentary and levels, you are losing money! It is really tempting to fomo into a trade here. At least try to get in on the lower bound of the range. The Kovach OBV is still very strong but the Kovach Chande has fallen back indicating a buying opportunity.

fibonacci resistance

The S&P 500 is consolidating about our Fibonacci Extension.

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