Markets build a consolidation double bottom? Large Caps lead
The Russell 2000 and Nasdaq are building sideways trading ranges with the potential for a double bottom using Thursday's low and the March swing low as the basis for the next phase of the rally. It's not a deep pattern, but given the rally which led into it, it's as much of a consolidation as once can expect to see. In the case of the Nasdaq, Friday's gain wasn't enough to offset the MACD trigger 'sell' or the loss in relative performance to the Russell 2000 (although no 'sell' trigger).