Monday, July 26, 2021

More of the same; Russell 2000 range bound as S&P and Nasdaq lead

The weekend didn't deliver any change on Friday's position, the Russell 2000 couldn't follow the lead of the S&P and Nasdaq, instead posting yet another neutral doji. Buyer indecision for growth stocks remains a concern as the trading range remains no closer to been breached.


The Nasdaq edges higher on light volume. Aside from the MACD, technicals are positive - but the MACD is close to a new 'buy' trigger.


The S&P closed the day with a MACD trigger 'buy' as other technicals stayed positive. There is a growing bearish divergence in the MACD but nothing too damaging yet.


Nothing more to add for the indices from Friday, Russell 2000 is still the index to watch as another day passed without traders showing their hand. 

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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