The stock market rally can keep going despite Friday's pullback. How to stay long while hedging slightly

The S & P 500 celebrated its 18 th new all-time for 2026 and its remarkable seventh record thus far in the month of May. This nearly 20% parabolic rally has pushed all three major U.S. stock indexes firmly into the green, with the S & P 500 and Nasdaq closing at fresh record levels. RSI (relative strength index) levels in State Street SPDR S & P 500 ETF Trust (SPY) have signaled overbought conditions in recent weeks and this morning's profit taking makes sense. …