Stocks Range Below Highs

As anticipated, stocks are ranging at highs. We are currently just below our next target of 4632. If we are able to breakout, then the next target after that is 4649. If ranging continues, then expect the action to be confined between 4580 and 4632. The Kovach OBV is still quite strong, but has tapered recently with the pause in stocks. We could be due for a correction soon. If so, 4564, 4545, and 4521 should provide further support.