Stocks Struggle for Support
Stocks found support at 4068. The S&P made an attempt at a breakout but this was quickly thwarted by resistance at 4122. It looks like we finally found some stability around current levels and may be ranging or consolidating as we gear up for another attempt at a breakout. There is still a lot of down side risk, and the Kovach OBV is still pretty bearish. Another tumble could easily take us to 4009, which is the last level of support in the 4000 handle. If we can muster some momentum we will next find resistance at 4178 and 4188.
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