New Highs for Stocks!!

2021年5月10日

Stocks have made new highs again in the overnight session, finally meeting resistance at 4245, which we have identified as a new technical level. We will see how they react toward today's open. If we see more momentum coming through we could see new highs again, however if not, we could see ranging or a retracement. It is likely that the S&P will feel out the current price territory between 4214 and 4245 before breaking out higher. Our next profit target is 4272. A significant retracement could take us back to 4188. The Kovach OBV has been lagging lately, but has picked up registering this rally. It appears to be rounding off however, which suggests we are due for ranging or a retracement.