After the selloff, stocks are gradually tapering up. There is not a lot of momentum here, it is reminiscent of low liquidity drift in the after market. The S&P will face resistance at 3585 and after that there is a big vacuum zone up to 3634. It is highly likely to see more ranging or a further retracement before we breach new highs again. The Fibonacci levels below present good ideas for buy-back, including 3485, and 3433. The Kovach OBV is still strong, so it would be unwise to step in front of this freight train.

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