Selling Continues Across Indices
Indices continued to decline with measured move targets for the S&P and Nasdaq still in play. However, the real damage was done in the Russell 2000. The index made a clean break below its 50-day MA on a gap down with new 'sell' triggers in Stochastics, ADX and relative performance. Volume climbed to register as distribution. The index which had been defending the breakout is now having to contend with a new level of overhead supply.
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