Everyone who was reading our reports yesterday was prepared for the big correction in stocks yesterday! Some of our traders made serious money off this! Recall that we mentioned that stocks were having trouble with all time highs and that it was realistic for a correction before they could make a run to solidly break all time highs. We explicitly called out the level 3357. Note that now, the Kovach indicators are solidly bullish , indicating that there was a substantial buy back at the levels we identified. Perhaps this means people are paying attention to our reports :)
Stocks are likely to maintain this range as they feel out the new territory, at least for a bit before gunning for new highs. We are still bullish of stocks, though it is hard to ignore the impending bubble. Until we hit systemic defaults from great depression level unemployment, we can expect this party to continue.
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