Stocks have displayed some extreme volatility over the last few days. The S&P has spanned about 200 points from highs to lows down in the 3600 handle. Currently, it has regained the 3800's finding support right around the psychological 3800 level. Even the Kovach OBV is somewhat oscillatory which shows the vicariousness of the momentum coming through this product. Eventually such extreme volatility will peter out, and we will have more well defined behavior soon. There is a double top at highs, which is a bearish sign. Also, we see a bearish crab cypher pattern on the daily chart. These are both ominous signs, so the fed will have to run the money printers on overdrive if they wish to prop up stocks for another bull run.
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