Stocks Struggling To Break Out

Stocks found support at 4144, as we anticipated they would. They are currently testing 4178 and 4188, perhaps in the process of forming a bull wedge pattern before potentially breaking out to higher levels. Momentum at open will be critical to achieve higher levels. The Kovach OBV is still struggling to recover from the massive selloff, suggesting that we aren't seeing enough momentum just yet, at least with respect to that. There is a vacuum zone above our current levels to 4214. If we break out, this will be the next target. If not, there will be support at 4122.