Sellers bring havoc to Russell 2000
Last week's bounce from the swing low looks to be toast with today's distribution selling leaving the Russell 2000 just a few points above that swing low. The net result from today was to leave technicals net bearish with the lows of March the next target.
The Nasdaq finished the day with a bearish engulfing pattern, albeit on light volume. Technicals started with a bearish 'sell' trigger in the MACD as other indicetors are likely to follow suit over the coming days. On the daily time frame, a Fibonacci retracement brings things back to the June breakout.
You've now read my opinion, next read Douglas' blog.
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