Stocks Back to Life??
Stocks have received a nice buying wave, blasting through 4440. It appears we are back to bull mode, as this was the level to break before we could consider higher levels. We do appear to be facing some resistance at 4462, an intermediary level before 4487, which is the next relative high and key level to break before we can consider 4580 which is a major target, and high of Frebruary. This level was tested and rejected twice, forming a double top that will be difficult to break out of. If we reject current levels, anticipate support at 4408.
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