Stocks broke down from the bull channel pattern exactly when we said they would to exactly the level we identified (brushes dirt off shoulders). We noted the bull channel and lackluster momentum. Also we noted the vacuum zone below to 3624. The Kovach OBV has registered this huge dip, but has since levelled off. Current levels will provide resistance, but there is another vacuum zone to 3584 below. Otherwise, stocks should remain between 3624 and 3658. A burst of bull momentum will still have to contend with this latter level.
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