Stocks are looking technically very weak after rejecting the neckline of the head and shoulders pattern. Notice that the Kovach OBV is still strong. The S&P 500 is also at a level of support at 3156, so it should catch some support here.

We just likely saw the completion of a full 5-3 Elliott Wave, and this could be the start of a new one.  The level 3190, will be critical to test and break to confirm the continuation.


Stocks have retraced, but could catch a bid at current levels


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