Stocks Meet Resistance
Aggiornato
Stocks have reached our profit target at 4462, and seem to be stalling there. We will see if the Biden administration's epic, incendiary failure in Afghanistan will have an impact in the S&P closer to the open. For now, it looks like it will establish value between 4431 and 4462. The Kovach OBV is strong but has leveled off suggesting that stocks may be taking a breather before another rally. We are seeing not one but four red triangles on the KRI which suggests that we are facing stiff resistance at 4462.
Nota
As discussed, stocks are establishing value in the areas we identified! After testing lows just above our level at 4431, we've completely retraced back to highs!
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