Stocks Looking Weak...

28 May 2021

Stocks caught a lift from 4188, testing 4214, as we said they would in the last report. The S&P appears to be making a run for highs, however these rallies are very weak with respect to what is needed to break the resistance we will see as we approach highs at 4245. If we do not see this momentum, we will likely retrace back down to 4144 or 4122 unless 4188 provides support. The Kovach OBV is completely flat, so unless we can get a burst of momentum, we should see a continuation of the range at the very best.