The S&P 500 to Face Resistance??

23 Mar 2022

Stocks have edged higher and reached our profit target of 4521. We are starting to see resistance building at each level as confirmed by red triangles on the KRI. The Kovach OBV is still strong however, but the price is gradually starting to round off suggesting we will soon have a range day, or a retracement. After over a week of rallying this is reasonable to expect. If so, 4440 should provide support. If not, our next target is 4580.