Tuesday, August 10, 2021

Nasdaq Losses But Markets Are Generally Unchanged

The Nasdaq took a small loss, but not enough to undercut the 20-day MA.  Trading volume was also light, typical of holiday trading. Headline writers will want to create a story here but there isn't a lot to work with here - and even less in other indices. 

The S&P traded a blip. The small doji is meaningless here. We have a MACD trigger 'sell' from an effectively flat-lined scenario but stochastics (momentum) remains firmly bullish.

The Russell 2000 finished with yet another doji as the 50-day MA continued as resistance

The Russell 2000 holds the key to market direction for the coming months, but it needs to decide on a direction.  The S&P and Nasdaq are inching higher, but broader market participation is needed. 

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.