Stock Market Rally
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The stock market rally in the last two days has been the most intense we have seen in a while. This is what a strong short covering rally looks like. Oil’s low was at $26 on Thursday while the S&P was making a new 52 week low. Since then oil has rallied more than 10% with the S&P rally. Bonds is notable that it has fallen off the highs decently. Do not write off bonds though because another sell off in stocks will lead to new highs in bonds. Did gold have an island top? Let’s take a look. The next dip is what we should watch. Will the dip be orderly and make a higher low or will it be heavy and take out the lows.
