Stocks Topping, but Facing Resistance
Stocks hit a high in perfect alignment with the Fibonacci extension levels at 3127. Watch for a technical retracement down 3096, or the psychologically important 3100. The Kovach OBV is still strong, but the Kovach Chande shows a dip implying that this could be a good time to get long if you are still bullish of stocks. However, after such a rally a retracement or ranging period is due. The Elliott Wave suggests we will either range or have a further correction.
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