The S&P has broken relative highs. We have to go back to March for levels from above which it will test before retracing. The relative strength of stocks with respect to safe havens is not nearly as strong as measured by the Kovach OBV. Thus the break in intermarket correlations is suspect and we may anticipate a retracement soon. The next target would be 3357. We are currently in a vacuum zone right now. You would be fomo-ing into a trade if you entered now. It seems reasonable to wait for a morning squeeze before entering anything. The level 3293 seems reasonable.


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