Stocks Find Support!!

May 12, 2021

Stocks have sold off for two days in a row. However we appear to have a double bottom at 4122. This was a significant technical level to which we alerted you many times, so hopefully you were prepared. This level might be a great point to add to a long position, and the risk management is pretty clear. Below 4122, we have a vacuum zone to 4073, so it would be advisable to keep a narrow stop loss. From above, 4178 and 4188 will provide resistance. We have a little bit to go before highs at 4245, so it is unrealistic to expect to see this level again today.