quantguy

Have Stocks Found a Bottom??

Short
FX:SPX500   S&P 500 Index
Stocks found support at 3963, once again testing the 3K handle. The S&P 500 seems to be dipping into the 3K's with increased confidence. It is reasonable at this point for stocks to take a breather and mave a sideways correction or relief rally. The Kovach OBV has turned south but does appear to be curving over. If we are to see a rally, potential targets are 4009, 4068 and 4122. If the selloff continues, then 3937, 3928 and 3909 should provide support.

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