Stocks Test the Range

31 янв. 2022 г.

Stocks are maintaining the wide range between 4272 and 4440. We are currently tending to the upper bound of this range, testing higher levels where we are meeting resistance. The Kovach OBV is trending upwards, suggesting a slight bull divergence. Watch the open today to determine if momentum picks up for clues as to whether we can break 4440. If so, the next target is 4487, then 4580. If 4440 provides prohibitive resistance, we could make a run for lows again at 4272, but we have plenty of levels of support in between from which we could get a pivot. Stocks must definitively break 4440 before we can be considered 'bullish' again.