Stocks Ranging at Highs
Stocks have achieved another highs and have hit our profit target of 4352 on Friday. They've ranged at that level due to the Holiday in the US for the Fourth of July weekend. We are clearly establishing value at current levels but we have a very narrow range suggesting we could break out soon. If stocks have enough momentum to continue the rally, our next target is 4380. If not, we have levels of support below at 4327 and 4306. We keep saying we are due for a healthy correction at possibly a 50% retracement of the channel at 4272 or so, but the trend is clearly bullish for now
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