Stocks Meltdown!! Will They Find Support??
Stocks have finally found support at 4350, after a massive selloff yesterday. We cut through several major levels, and have solidly breached the 4300 handle. Currently, we are seeing a bit of a lift from 4350, reaching a resistance level at 4388. There is a red triangle on the KRI, suggesting we may see a rejection of this level. If so, we could retrace back to 4350 and then some. If we see momentum come through, then there is a vacuum zone above to 408. The Kovach OBV is still very bearish, however.
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