Stocks Face Volatility Near Highs
Stocks continue to see volatility at highs. We had a nice burst of bear momentum yesterday as the markets were pretty risk off. We have gotten support from 3887, and this seems to hold. Broadly, the S&P is likely to hold the rather large range between 3887 and 3963. We are at 3909 right now, which is broadly in the middle of this range. It could go either way. The Kovach OBV is on the uptrend, after registering the bear momentum. However, we are at the upper bound of the KRI, and near a significant level, so we may retrace back down to 3910
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