Russell 2000 Tags 200-day MA; S&P at 50-day MA; Semiconductor Cracks
Indices recorded another set of losses but some now offer an opportunity for longs. Best of these belong to the Russell 2000. The Russell 2000 managed a picture perfect tag of the 200-day MA with Friday's lows making it to 1,618. Shorts trading the tag (of the 200-day MA) will have come out with a nice profit and aggressive longs may have also used the opportunity to trade a bounce with a buy.