Stocks Maintain the Range

6 Jun 2022

Stocks are maintaining the range established last week. We have good support from 4068, the neckline of our inverse head and shoulders pattern we noted two weeks ago. The level 4214 is providing strong resistance and is an upper bound for now. If we are able to break past it, then 4306 is the next target. The Kovach OBV indicates weakness, so we can expect the S&P to maintain the current range until momentum comes through.