Stocks Still Hugging Lows
Updated
Socks are holding steady at lows. The S&P seems to have bottomed out at 4272, making a meager attempt at higher levels. We appear to be making a run for 4327, but there isn't much momentum to this rally. The risk sentiment is still pretty bearish, but we will see how it evolves as the day progresses. The Kovach OBV is still solidly bearish as well, but we could be due for a relief rally. Watch for 4272 to continue to provide support, but 4245 is the next level if we break through. The next level above is 4350, and there are several levels above this which will provide resistance until we are able to break through to the 4400 handle.
Note
Seeing resistance at 4327, as anticipated!Note
Looks like I spoke too soon! Let's see if we can break 4350!
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