Stocks DUMP!! What to Expect...
Stocks plummeted near close yesterday, cratering more than 100 points. It appears that the stock market is not digesting the Russia/Ukraine issue, with NATO talks 'going nowhere'. We made an attempt to break into the vacuum zone above 4580, but a red triangle on the KRI marked sharp resistance early into this attempt. Subsequently we sold off, smashing through the 4500 handle, and testing levels in the 4400 handle. We appear to be seeing support from 4462, and made a small attempt at a pivot to 4487, where we are currently seeing notable resistance. At the time of this writing, we are currently seeing what appears to be a rejection, seeking support at 4462. The already abysmal Kovach OBV has taken a sharp turn downward, but does appear to be showing signs of leveling off. We have a cluster of levels in the lower 4400's to provide support including 4440, 4431, 4421, and 4408. All of these could potentially be targets if the selloff persists. If not, we could make a run for the relative low at 4521 or attempt 4580 again.
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