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Fresh Losses Put Russell 2000 Under Pressure

By Declan FallonStock MarketsMay 16, 2016 12:13AM ET
www.investing.com/analysis/fresh-losses-with-russell-2000-under-pressure-200129969
Fresh Losses Put Russell 2000 Under Pressure
By Declan Fallon   |  May 16, 2016 12:13AM ET
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The Russell 2000 experienced a third day of losses to push below the 50-day MA with technicals net bearish following the loss of stochastics [39,1] below the mid-line. Relative performance (against the NASDAQ) has also been in a downward trajectory since late April and is on the verge of a bear cross.

RUT Daily
RUT Daily


The S&P also saw its technicals turn net bearish. Rate-of-Change is holding to a possible swing low as the index finished Friday on the neckline of a potential head-and-shoulder reversal pattern. Buyers don't have a whole lot of room for maneuver if these factors are to play as support—look for a positive open.

SPX Daily
SPX Daily


The NASDAQ finished Friday above the May swing low. Of the lead indices it has the most bearish technicals, but also the most oversold. While it isn't trading near price support, and has converged 20-day, 50-day and 200-day MAs overhead, it may be best placed to post a gain today, Monday.

COMPQ Daily
COMPQ Daily


The Semiconductor Index finished last week with a bullish harami cross. Technicals remain mixed with the index trading below it 200-day MA. The NASDAQ shouldn't be too negatively influenced by Semiconductors today.

SOX Daily
SOX Daily


Bears can keep an eye on the Dow Jones Index. It suffered a clear loss of May support along with the 50-day MA. Technicals are a little mixed with stochastics [39,1] cutting below the mid-line into bearish territory, while On-Balance-Volume is net bullish.

INDU Daily
INDU Daily


In the near term, bulls can look to the S&P and NASDAQ. while bears have the Dow to track. Long term, markets are in neutral territory.

Fresh Losses Put Russell 2000 Under Pressure
 

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Fresh Losses Put Russell 2000 Under Pressure

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