Sunday, March 21, 2021

Buyers look to halt losses across indices

Friday was options expiration, which spiked volume, but it also saw higher prices for many of the indices. 

The Russell 2000 was/is the lead index but it reversed its recent breakout to fall below support, but it did find support at its 20-day MA.  Technicals are a little mixed with a 'sell' trigger in the MACD and ADX, but bullish technicals intact for On-Balance-Volume and Stochastics. The index is still outperforming the S&P and Nasdaq.

The Nasdaq is caught below its 50-day and 20-day MA but is looking to shape a higher low.


The S&P wasn't quite able to post a higher close, but it remains above its 20-day and 50-day MA as the index looks to reassert a leadership role relative to Small Caps.  Of technicals it has a 'sell' trigger in On-Balance-Volume


For tomorrow, we will want to see the Russell 2000 return to challenge its breakout or for the S&P to become the new market leader. 

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

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

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