Cypher Pattern Profit Target Reached in Stocks!! 😎

Stocks have broken down from our butterfly cypher pattern. This has been a long time in the making, and our analysis with harmonic patterns has foretold this correction weeks prior. We have actually broken down a bit past the target, to the 0.618 Fibonacci retracement level at 4144, which is also a technical level. If anything is going to slow the bleeding for stocks, it would be a level like this. That appears to be the case, as we have seen a bounce back to 4193. The Kovach OBV has definitely taken on a negative trajectory, but could be rounding off perhaps suggesting more momentum may come through. Momentum at the open will likely foretell where the price action is going today.