Stocks Inching Higher

After ranging for a bit, stocks have inched higher to new highs. So far, 4073 is providing good support. Be careful of the broad vacuum zone that is forming below down to 4009. After such a large move, it is reasonable for stocks to continue to range or retrace a bit. However, in the current climate, it would be unwise to step in front of this freight train. We anticipate new highs sooner than later and 4144 is our next target. The Kovach OBV is strong, but appears to be leveling off.