Stocks Ranging Before Nonfarm Payrolls
Stocks are maintaining a very narrow range between 4521 and highs at 4545. The Kovach OBV has leveled off, so we are likely going to range before jobs data is released on Friday. A good data point indicates a stronger economy, while a bad data point suggests more Fed fueled free money, so good or bad news is good for stocks. We will have support from below at 4504 and 4487. Our next profit target is 4564.
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