Vaccine News! What Does this Mean for Stocks?
News of the Moderna vaccine has sent stocks soaring this morning. Never mind the actual effectiveness of this 'vaccine', this is simply what the markets want to hear. The S&P has hit 3634, a fibonacci extension level and all time highs. The Kovach OBV looked like it was about to turn over, but has since upticked to reflect this move. The Kovach Chande has picked up dramatically. The S&P may see some resistance here, but it should have support at 3584, and 3547. If you did not enter this trade already, avoid FOMO, we are bound to see a retracement at some point.
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