Stocks have felt an infusion of risk off sentiment. The price action has rounded off, after peaking just a few ticks above 4389. We saw support at 4364, and 4350, exactly the levels we have identified. If needed, 4327 and 4306 will provide further support. Both the Kovach OBV and the Chande have picked up notably with the bounce we saw off 4350. But it could go either way depending on what the sentiment is this morning at open. We will face resistance from 4389. However, if the S&P can muster enough momentum to break that, our target remains 4408.
Comment:
Stocks finding support at our level at 4327, exactly as we anticipated 😎
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