New Highs for Stocks! Can they Hold them??

27 באפר׳ 2021

Stocks managed to eek out new all time highs yesterday but just barely. There was quite a lot of resistance at this level, and it will take significant momentum to puncture through and maintain the rally. Entering a long here would be the height of fomo. Waiting for a deep seems much more reasonable and we could see the S&P cross a vacuum zone below to 4144 or 4122. These would be better levels to buy for at least a mean reversion trade. Take note of the vacuum zone to 4073.