Breakout for Stocks??
Updated
The S&P 500 continues to range in a sideways corrective pattern. After its recovery from the dip and making new highs, this is a perfectly reasonable behavior and suggests that stocks may be gearing up for another breakout. We have held a very narrow range between 4389 and 4410. The more constrained the volatility in stocks, the more likely we are to see a breakout and today may be the day. Our next target is 4431. If we fail to breakout or continue the range, then 4380 or 4364 will provide support.
Trade closed: target reached
Profit target at 4431 reached!!
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