Yesterday's Losses Reverse
After yesterday's losses today was the turn of moving averages to step in as support. Action for the last couple of days does look like washout trading to shake out weak-holding longs The Russell 2000 suffered the most on Tuesday but did well to attract buyers at its converged 50-day and 20-day MAs. While today's buying was good it wasn't enough to prevent a MACD trigger 'sell'.