Stocks are continuing to range. They have held the range between 4380 and 4431 for over a week. As we mentioned yesterday, the S&P 500 found support at the lower bound and has tended back to the upper bound, sitting just a few ticks below the upper bound at 4431. We will see today if stocks can finally muster the strength to break this level and acheive new highs again, or if they will continue to range. If we are able to break the range today, then 4462 is the next target. If we break down we will have further support from 4364 and 4350.
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