Stocks dipped, finding support just above our level at 4462. We are currently testing 4487, which should provide resistance. The Kovach OBV is rounding off with the price action suggesting the overall momentum is petering out. Watch for news events from Jackson Hole to influence the price, and for stocks to remain in the value area between 4462 and 4487 until then. Our next target above is 4504 again, or highs. News from Jackson Hole could easily bring us to new highs again.
Trade closed: target reached
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Boom! Stocks hit 4504 on dovish comments by Powell!!