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.

Share on StockTwits

---

Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.

Follow Me on Twitter


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

.

 
f9229fcfd1b1390be00cfccc86c90349c93a4179bf4227457c