Stocks Attempt a Rally

4 Eki 2021

Stocks appear to have found support for now at 4272. This seems to be a lower bound for now. We do appear to be witnessing a meager attempt at a rally. The S&P has tested 4380, but retraced a bit to support at 4327. We may attempt to find support here as we establish value. The Kovach OBV is still solidly bearish, and until we can see some momentum come through, we can expect to remain at these lower levels. We have a cluster of levels in the 4300 handle above. If we manage to break through these, 4408 is the first major level in the 4400 handle, and this will be a significant barrier to break.