Stocks Range Near Highs

Stocks have paused their rally, establishing value near all time highs. This is a clear sideways correction to a strong bull Elliott Wave impulse that we saw starting in mid October. From here, we can expect the S&P to range until further momentum comes through. If we correct further, expect support at 4545, 4521, or 4504. If we break out, there is a vacuum zone above to our next profit target of 4632.