Indice S&P 500Short
Stocks Due for a Retracement
Stocks have maintained a very narrow range, and traded completely flat yesterday. We appear to be seeing a top, and the Kovach OBV is completely leveled off. We maintain yesterday's position that a retracement is due. If so, we would at least see 3928, but sustained bear momentum could take us to 3887. The neckline of our inverse head and shoulders pattern would be at 3848. If we do break out, 4000's are in sight and 4009 is our next target.
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