Correction Coming for Stocks??

3 พ.ค. 2021

Stocks have peaked right under our profit target of 4227, at 4214. We have pretty good support underneath at 4188 and 4178. However there is a vacuum zone below to 4144. We may find some support at one of the Fibonaci levels drawn here. The S&P has been very strong lately but the price action is 'rounding off' which suggests that a correction is coming. The Kovach OBV has declined a bit which may support this. We certainly aren't short of stocks, just cautious to enter at highs. If we do catch some momentum, we will most likely hit our profit target of 4227. Our next profit target is 4293.