🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Minor Changes To Major U.S. Indices; Small Caps Suffer The Most

Published 06/11/2020, 12:39 AM
Updated 07/09/2023, 06:31 AM
US500
-
US2000
-
IWM
-
IXIC
-

With some indices are at resistance yesterday's selling was not a surprise. Hardest hit by the selling was the Russell 2000 (via iShares Russell 2000 ETF (NYSE:IWM)); it lost over 2% as it reversed off the March swing high. Volume climbed in confirmed distribution, but aside from the relative strength loss against the NASDAQ, other technicals were positive. While the selling was heaviest in this index it didn't break support.

IWM Daily Chart

The S&P posted a small loss, although volume rose in confirmed distribution. Resistance at the February gap along with the 200-day MA is in play but the trend remains bullish. 

SPX Daily Chart

The NASDAQ has already posted new all-time highs as it looks to consolidate its gain. The gain came with a new 'buy' trigger in relative performance vs the S&P. Technicals are not showing any technical weakness. 

COMPQ Daily Chart

Profit taking was the key action on the day yesterday and there was no lasting daamage done to the indices.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.