Stocks Get a Much Needed Lift

29 Mar 2021

Stocks caught a lift at market open. We've reached 3978 before facing a bit of a retracement. The Kovach OBV is strong which could suggest momentum is back. It's about time the malaise lifted for the S&P. We still need to break relative highs at 3987 to be considered properly bullish. We will definitely face resistance here. Then the next target is 4009. It is looking a bit overextended at the moment, so a pullback may be anticipated before we can break out. If this is the case, we could see levels as low as 3909.