Fifty-day Moving Averages Tested - Check; Now For The Bounce
If bulls are calling the shots then I will be expecting next week to deliver a solid bounce as lead indices enjoyed strong accumulation, at 50-day MAs, on bullish candlesticks; a strong trifecta to work off. The Russell 2000 ($IWM) is additionally showing support at converged trendline and the low of the early October big red candlestick. Technicals are net negative, although stochastics aren't fully oversold, which might be the weakest thing you can say about a bounce.