Double Bottom in Stocks?
Stocks have gotten battered recently, smashed over 200 points from all time highs. It is difficult to say if they have bottomed out, but it looks like we will see another wave of selling towards the open. The level 3375 seems like it will provide good support. It seems like this would be a good point to try to enter a long trade. It would also constitute a double bottom which would be very bullish for stocks. If we are wrong, there is a vacuum zone below so keep a narrow stop. If it crosses the vacuum zone, we have another level at 3329. The Kovach OBV is trending up slightly so perhaps a buyback is near.
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