Stocks have continued their rally into the 4500 handle, on earnings optimism. We are meeting some resistance at 4520, but the Kovach OBV is still quite strong, indicating a clear bull trend. At this point a technical retracement is reasonable, and we should see good support at 4462. If the rally continues, we have only two levels above, 4545 and 4564 before we can consider new highs.
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