S&P Continues to Range

The S&P is trending sideways, maintaining a fairly narrow range between 4122 and 4188. This is perfectly reasonable after such a rally last week. The Kovach OBV has been very strong but has leveled off to reflect the correction. Watch the boundaries of the range for momentum at open. Lack of momentum will suggest that the range will continue. If we break down, 4073 will provide support. We could also see support before then at 4096 from a Fibonacci level. If it breaks out, then 4214 is our next target.