Stocks Slide, But Potential Breakout Near

The S&P 500 has slipped back below 4364, as anticipated in the last report. We found support at 4327, roughly the middle of the range stocks were holding between 4327 and 4364. Currently, we are testing the upper bound of this range, but a red triangle on the KRI suggests that we are meeting some resistance. There is a clear bull bias from the Kovach OBV, so watch for a potential breakout at open, especially if the tone of the news remains risk on. If so, we have several levels of resistance above, but 4408 would be the next target