Minor Losses Keep Markets Near Highs

While markets registered losses of just over 1%, there was no real damage done to the indices. The Nasdaq was one of the worst hit on the day, but the mini push to a new swing high is still intact; the 20-day MA is the support level to watch. 

The S&P lost less than 1% as it too came back off its high. The rising trendline (also running along the 20-day MA) is the support level here.  Technicals are all net positive. This is a hold if you have the $SPY ETF. 

The Russell 2000 registered a very small loss as it retains its leadership role in the market. As with the S&P and Nasdaq, we can look to the 20-day MA for support. Technicals are all net positive. 

Not a whole lot to say about markets today. Losses were not unexpected and trading volume was light. Lets see what tomorrow brings?

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

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