Stocks look like they are forming the second shoulder of a head and shoulders pattern. I have resisted drawing this, lest someone be tempted to trade the second shoulder preemptively. You should avoid this temptation, because as I emphasize in my classes, if we can break the high that forms the head, this is a bullish sign since we are making higher highs. The Kovach OBV is edging up, so we may break out. If so, the next significant level is 3427, which will provide resistance.


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