How Low Can Stocks Go??

Apr 25, 2022

Stocks plummeted as global recession fears mount. The strict lockdown in China has rippled through the markets, and additionlly PMI was a huge miss on Friday. We have smashed through our anticipated level of support at 4327, which we have been calling out for weeks now. We are currently finding support nearly 100 points below at 4228. We are seeing a green triangle form on the KRI to confirm support. The Kovach OBV has taken a nosedive, confirming the bear momentum. If the rout continues, then 4144 or 4122 are likely targets for support, and potential long positions. If we are able to muster the strength for a relief rally, then 4327 should provide resistance, then 4364.