Monday, April 22, 2019

Small gains for Nasdaq; Russell 2000 at converged 20-/50-day MAs

My individual picks on invest4success are showing a greater level of weakness than the indices. This may reflect bad stock picking on my part, or could represent a hidden undercurrent of weakness which hasn't represented itself in the broader market. Time will tell which side is true.

Leading on from this, I would like the Russell 2000 to regain its leadership which it lost in March. The February high rebuttal off the 200-day MA remains the high for the index in 2019, but something more is required to see a reversal in the relative performance loss.


The S&P isn't doing a whole lot, but this lack of movement has helped the index outperform the Russell 2000. Despite this, the index has shifted to a 'sell' trigger in the MACD.


The Semiconductor Index bucked the trend a little. The potential 'shooting star' from last Wednesday never materialized and this is good news for semiconductor stocks, the Nasdaq and the Nasdaq 100.


The Nasdaq has benefited (a little) from gains in the Semiconductor Index. While the index hasn't done a whole lot in recent weeks it has enjoyed good technical strength, bar a flat-lined 'sell' trigger in the MACD.


For tomorrow, I would like to see the Russell 2000 regain some of the momentum lost in recent weeks, starting with a successful defense of converged 20-day and 50-day MAs.


You've now read my opinion, next read Douglas' blog.

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Investments are held in a pension fund on a buy-and-hold strategy.
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