Coronavirus Panic Smashes Stocks!! 😱📉
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Massive amounts of risk off sentiment poured into the markets which crushed stocks. We dipped as low as 4234, before a respite back to current levels in the upper 4200's. Currently we are sitting just below a resistance level at 4293. The Kovach OBV has turned sharply from its overwhelming bull trend to reflect the dump. We dumped almost two handles, from just below 4400 to the 4200's, so it is reasonable for stocks to come up for air and perhaps range at current levels. Another dump could take us back to lows or worse, there is a vacuum zone down to 4188 below. A recovery could take us back to 4327. It is likely after a few days at most that we will begin to make a full recovery. These bouts of panic don't last long and the Fed will likely make a statement to save the day if so
Note
Stocks recovered to *exactly* 4327!! 😎
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