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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