Stocks Tumble, Find Support
Stocks fell from from the range they were holding between 4521 and 4545. We anticipated a break out or break down as they had been holding this all last week. We caught some support at 4521 and made an attempt to establish value here, but another wave of selling took us to support at 4504. We should find support here but if we see another wave of selling, 4487 will be the next level down. The Kovach OBV has turned sharply bearish, reflecting the selloff. However we have two green triangles on the KRI suggesting that 4504 is likely to hold for now.
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