Stocks Inch Up, Retracement Soon??

28 июн. 2021 г.

Stocks have inched up, achieving our profit target of 4293. There will be some resistance here, and it is doubtful that the S&P will have the momentum to break through at the moment. Some ranging or a retracement is likely first. Stocks are clearly in bull mode, but the momentum seems to be waning and the gains are increasingly more paltry. We will have support from 4272 and 4245. Our next target is a bit more conservative, at 4306 if we do see another burst of momentum. We should also see resistance at the 4300 mark, since this is a psychological level.