Breakout Imminent in Stocks!!!
Updated
Stocks are consolidating into a triangle corrective wave. This is a perfect consolidation pattern an suggests a breakout is imminent. We are bullish of stocks and anticipating a bullish breakout at open which will take us back to 3928. From there we will likely meet resistance and consolidate further perhaps in a bull wedge before breaking out to higher highs. If we are wrong, we will find support at 3882 or 3871. The Kovach OBV is very strong and the Kovach Chande is neutral which is a perfect storm for a breakout.
Trade closed: target reached
The S&P shot up to new highs where it is currently facing resistance. Exactly the behavior i specified in this report
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