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Stocks Inch Higher, But Gains Inconsistent

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  • RES 4: 129.47 1.00 proj of the Jun - Aug - Oct 2020 price swing
  • RES 3: 129.26 High Dec 13, 2018
  • RES 2: 130.63 1.0% 10-dma Envelope
  • RES 1: 129.97 High Feb 25
  • PRICE: 128.96 @ 17:59 GMT Feb 26
  • SUP 1: 127.31 Low Feb 17
  • SUP 2: 127.04 Low Dec 15
  • SUP 3: 126.40 50-day EMA
  • SUP 4: 126.10 Low Feb 4

The cross traded well into the Thursday close, gaining traction after topping the bull trigger of 128.46 earlier in the week and touching the best levels since late 2018 in the process. Price action paused Friday, but the week's momentum opens the cross for further gains toward the Dec 13, 2018 high at 129.26, although technically overbought conditions are now present, which may slow progress from here.