Stocks Bottom Out... For Now...

30 Ağu 2022

After plummetting to the bottom of the 4000 handle, stocks made a meager attempt at a rally. Our level at 4009 was the exact low of the S&P 500. It touched this level and promptly pivoted, testing the next level at 4068. However red triangles on the KRI immediately confirmed resistance and have been struggling to break through. If we can, then 4122 is the next target. It seems that 4009 provided good support but in the event of another selloff, 3978 and 3963 are the next targets.