When Will Stocks Recover?? 😱
Stocks appeared to be seeking value around 4389, but seem to have taken a turn for the worse. We found support at 4350, but risk off sentiment pervaded the markets and the S&P smashed through several support levels down to 4272, where it is currently finding support. The Kovach OBV is still massively bearish, suggesting we are getting into oversold territory, and due for a bounce. The best case scenario for bulls would be a V-shaped recovery, that could take us back to the 4300 handle or even 4400. From below, we should have support at 4225.
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