Stocks Make a Run for Relative Highs

7 ธ.ค. 2021

Stocks got a lift yesterday as investors turn hopeful again after Omicron fears subside. We broke resistance at 4580, and crossed the vacuum zone after that to 4632. Currently, we are testing higher levels, 4652 in particular. This is a relative high, and area with which the S&P has had some trouble in the past. The Kovach OBV has picked up notably, however. If momentum does continue, we should find resistance from 4668, 4693, then there is a vacuum zone to 4729. These cluster of levels should provide resistance and if momentum peters out we could easily retrace back to 4580.