SPX Near Monthly Highs With RUT Near Monthly Lows

By Quantifiable EdgesStock MarketsSep 20, 2018 07:59AM ET

www.investing.com/analysis/spx-near-monthly-highs-with-rut-near-monthly-lows-200344768

SPX Near Monthly Highs With RUT Near Monthly Lows

By Quantifiable Edges | Sep 20, 2018 07:59AM ET

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US500

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RUATU

-1.88%

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I have spoken a fair amount lately about the “split” market, and how that has historically been followed by declines. But not all kinds of splits are bad. Wednesday we saw the SPX rise while the RUT closed lower. That is not unusual on a 1-day basis. But it has now been several weeks in which they have been heading in opposite directions. RUT closed in the bottom 25% of its 20-day range on Wednesday while SPX closed in the top 25% of its 20-day range. The study below looks at other times where this occurred.

RUT Closes In Bottom 25% 20 Day

It appears the lagging RUT in similar circumstances has not been a drag going forward, and that SPX has continued to flourish. Below is a look at a profit curve with a 40-day holding period.

RUT Closes In Bottom 25% Of 20 Day

The strong, steady up-slope serves as some confirmation of the upside edge. This adds to the crosswinds I am currently seeing for the intermediate-term. Evidence seems to be piling up on both sides of the bull/bear debate. But this study is one for the bulls.

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SPX Near Monthly Highs With RUT Near Monthly Lows

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