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.

Share on StockTwits


Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.

Follow Me on Twitter

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


Popular posts from this blog

S&P "Bull Trap"?

"Black Candlesticks" are a concern for the S&P and Nasdaq

Round 2 for the bearish "black" candlestick in S&P and Nasdaq


Show more