Stocks Hit Profit Target!! What's Next??

29 Nis 2021

Stocks broke out and hit our profit target exactly! After a few days of malaise before the FOMC, we had a breakout to 4214, a level of which you were alerted many days prior. Our next target is pretty conservative at 4227, then we have another at 4293. These are generated by Fibonacci extensions from Fibonacci levels anchored at the upper and lower bounds of the range the S&P has been respecting before the breakout. The Kovach OBV is still very strong, though it would be reasonable to expect a pullback, which could take us back to 4188.