Indice S&P 500Long
Breakout in Stocks??
Stocks are finding resistance at 4188, exactly as we had mentioned. We appear to be seeing a sideways consolidation pattern as they potentially gear up for a breakout later. Watch the open, if we do not see momentum, the S&P will reject 4188 like it did last week. It will likely test 4068 if that is the case. we could be seeing a bull wedge forming suggesting a breakout might be near. The next target after we break this range would be 4214. Then highs at 4225 are in sight.
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