Helping to prevent a crash in the Russell 2000 is the S&P at the 200-day MA. The index has been strongly outperforming the Russell 2000 in recent weeks and while at the 200-day MA still has the strong foundations for a bounce.
The Nasdaq is also at its 200-day MA (positive) and like the S&P is primed for a bounce. It needs buyers - and volume - but buyers have a relatively low risk play to work with.
With all indices oversold there is the potential for a larger crash, but with the presence of the 200-day MA for the Nasdaq and S&P, the easier option may be for a bounce.
You've now read my opinion, next read Douglas' blog.
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