Stocks Press Lower

27 apr 2022

Stocks have broken lower as the pivot from the initial selloff has failed. We tested relative lows briefly at 4214, before breaking lower to test 4144, which was the exact level we have been calling out this week. Support at 4144 held, and we are currently making a weak run for higher levels, though we seem to be having some issues with 4214 from below. The Kovach OBV is oscillatory near lows, suggesting we may be nearing a bottom. If we are able to break through 4214, we must first break through 4306 before considering higher levels. From below 4144 and 4122 should hold for now.