Stocks Still Strong!!
Stocks have pressed higher, but are currently rounding off. We tested 4545, the level we mentioned yesterday, but were unable to break through at the moment. A red triangle on the KRI denotes the resistance. We have since consolidated in a very narrow range between this level and 4521. We are getting strong support here, confirmed by three green triangles on the KRI. The Kovach OBV is still strong, but with this strong rally comes the risk of a technical retracement. If so, we should have further support at 4487 or 4462. If we see another breakout, 4564 is the next level, then we can consider new highs.
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