Stocks Hit our Profit Target!!

Apr 14, 2021

Stocks hit our profit target! We set a profit target for the S&P 500 weeks ago at 4144, a Fibonacci extension level. Currently, stocks are right at this level. It seems reasonable to anticipate some profit taking here. A dip in stocks is imminent, but there is no denying the bull trend and this should be considered a buying opportunity. The Kovach OBV is still very strong. A dip could easily take us to support at 4073. If we don't see a dip, we should at least anticipate some sideways correction. The next target, which is also a Fibonacci Extension level, is 4188. This seems well within reach.