Correction in Stocks!!
We are finally seeing our correction in stocks. The tiny retracement we saw on the 6th was paltry and we knew we should be seeing something more significant. The S&P fell to one of our support levels at 4298, but still could have more in the tank. We anticipate good support at 4272 or even 4245. This is a healthy correction for stocks, and we are still in 'bull mode'. The Kovach OBV is still very strong, dipping only slightly to reflect the correction. The Kovach Chande indicator is starting to round off, suggesting we may be bottoming out soon.
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