S&P 500 Rallies

The S&P 500 has shrugged off Amazon losses, pivoting just above our level at 3758. Amazon has given up trillion status as weak holiday spending as forecasts project the weakest holiday sales growth quarter ever. We will see if stocks can continue to rally, as a red triangle on the KRI is confirming resistance at current levels. The price action is rounding off and the Kovach OBV has slumped. If we continue to rally, we will face resistance from 3887, and 3909, the latter corresponding to a relative high. If we retrace, anticipate support at 3758 again.