S&P 500 Imminent Breakout!!
Stocks are clinging to support at 3825. They have held a very narrow range between this and 3848 or so. It could really go either way from here. A narrow range always precedes a breakout, so whatever the S&P does, it is going to do with force. We are very close to all time highs, and these will not be easily broken. It will take some momentum to pierce through. If so, Fibonacci extensions suggest 3887 is our closest target. After that, we seem to have a bit of a vacuum zone before two Fibonacci extension levels at 3927 and 3937, just 10 points apart. From below, watch 3810, 3792, then 3758.
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