Stocks Make New Highs!! What's Next??

27 jul 2021Stocks have broken out again to make new highs. We have fallen just short of our profit target of 4431. We have a cluster of red triangles on the KRI, indicating that the S&P is running into some resistance. We will see if it gets another burst of momentum at today's open or if we are due for a retracement. Such a retracement could take us back to support at 4389, or 4364. After making new highs it is reasonable for stocks to come up for air, unless we catch another bid at open. The Kovach OBV is strong but appears to be leveling off.