Stocks Wavering
Stocks have rejected 4228, which could be the first phase of the breakdown from our Gartley cypher pattern. A typical target for these cypher patterns is half of the height of the final segment of the pattern (CD). This puts us at 4144, which is not only a Fibonacci level but a technical level making it that much more auspicious. If we are wrong, we still have one level before highs, and it is doubtful stocks have the strength right now for it. The Kovach OBV appears to be turning over, suggesting, if anything, that will at least range. The level 4188 will provide support for now, also a technical level and a Fibonacci level.
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