Stocks Tumble!!
The S&P has dipped pretty hard from highs. We anticipated that we would see 4188, again yesterday and that's exactly where we are at the time of this writing. In fact it looks like stocks are not finished with the bear run and are pushing through this level. We are likely to find some support around this level, at least until the open, where we may catch some momentum. We have a few lows testing 4178, which we have added as a new level. Pay attention to this level since there is a vacuum zone below to 4144. The Kovach OBV has dipped sharply suggesting the aggressive rally in stocks is on pause for now.
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