The Nasdaq is lingering near former channel resistance, but it's not really a significant support level. The 20-day MA overhead will be tougher resistance. Technical weakness expands.
The Russell 2000 bounced back, but it's lacking a logical foothold. Relative market strength hasn't broken the flatline (unlike the Nasdaq outperforming the S&P).
For tomorrow, keep the focus on the S&P. Can bulls follow through on the bullish recovery?
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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. You can read what others are saying about Zignals on Investimonials.com.
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