Stocks Make New Highs!! Again!! 📈🤑🥳
Stocks got a big push from the FOMC minutes yesterday. We have smashed through our profit target at 4649, to make new highs yet again. We appear to be pausing around 4664, and forming a very narrow range here. We feel that stocks are overdue for a technical retracement, so be wary of FOMO-ing into a long position at highs. The levels 4649 and 4632 should provide support, but if not, there is a vacuum zone down to 4580. Our next target is 4693. The Kovach OBV is still very strong, which suggests we are becoming overbought.
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