Price Target for Stocks at New Highs

31 Des 2020

Stocks retraced exactly when we said they would, finding support at the level we identified. The S&P still may retrace further and be considered 'bullish'. The extremely bullish can consider this a buying opportunity. The more conservative bulls may wait for a nicer pullback, to 3714 or 3694. The Kovach OBV has slumped, so we may see a nicer correction soon. The Fibonacci's agree with our technical levels and give us an immediate price target if stocks can make new highs. That price target is a Fibonacci Extension at 3774