Breakout Imminent for Stocks
Stocks are just 5 points away from all time highs. The S&P is hugging the upper bound of the bull wedge pattern we have been following for the second week now. The Kovach OBV appears to be building up pressure for a breakout. Additionally, we have a huge steepening in the yield curve, between the 3 year and the 10 year in particular. Stocks are due for a breakout, and everyone holding call options may get a gift soon. If you want to fomo into a trade now, just consider that we are at highs, but it might not be too late to get ready for the breakout. If we are wrong, we are likely to retrace to 3584 or 3547. If we are right, 3700 will be the next target, a psychological level.
Join my discord at discord.io/quantguy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.