Advance Decline Line did great job. What is next?
Last week was hot for stock traders. As we discussed SP500 rallied a bit higher and was rejected. The Advance Decline Line did its job perfectly. I think the market can retest 3500 or higher and if rejected, we can sell for 3200. We still can see a big rally this year. Cycles and Fed Funds forecast indicate the beginning of an uptrend at the end of September. Besides, the stock market is usually strong before Elections. But for now, let's focus on very short-term trades.
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