Stocks Pare Losses

2021年5月14日

Stocks have rebounded from lows at 4040 or so, retracing about half of the massive selloff from earlier this week. We are currently testing resistance at 4144. The Kovach OBV is still pretty flat which suggests that this buy back was paltry with respect to the momentum of the selloff. Therefore, we are less likely to break current levels unless we have a significant wave of momentum come through at open, which could take us back to 4178 or 4188. Another selloff could take us back through the vacuum zone to 4073.