S&P 500 IndexLong
Breakout for Stocks??
Stocks are still broadly ranging, however the S&P is tending toward the upper bound of the range at 3867. We appear to be forming a bull wedge pattern, and the Kovach OBV is very bullish which could indicate a bull divergence. This could suggest that a breakout is imminent for stocks. If so 3937 is a good target. If we reject current levels, then the base of the range at 3737 or so is a likely target.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.