Still waiting for S&P and Russell 2000 Breakouts
Friday offered a low key finish to the week with both the S&P and Russell 2000 left much as they were on Thursday - ready to breakout. Technicals are net bullish, with the Russell 2000 enjoying a relative performance advantage against both the Nasdaq and S&P.
The Nasdaq remains within its rising channel on a slight uptick in accumulation. The MACD finished with a 'sell' trigger but other technicals are bullish.
Friday wasn't much different to Thursday, but the breakout potential remains for the S&P and Russell 2000. The latter is key to the long term health of the market; the former offers an outlet for money looking for safety.
You've now read my opinion, next read Douglas' blog.
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