Daily Market Commentary: Harder Losses
($SPX)
via StockCharts.com
The Russell 2000 came back to its 200-day MA but there was a worrying push to new lows in relative strength to the Nasdaq; suggests there is more downside in the tanks.
($RUT)
via StockCharts.com
However, this time the semiconductor index may help. It challenged its 50-day MA for a second time and is well positioned to break higher tomorrow.
($SOX)
via StockCharts.com
The semiconductor index may help the indices tomorrow but the selling has the look of lasting another day. But it's not plain sailing for bears; there is workable support and a bullish engulfing pattern could emerge given the general timid selling volume today.
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