Market Maintains Status Quo As RUT Edges Back To Support

Published 03/06/2017, 11:11 PM
Updated 07/09/2023, 06:31 AM
US500
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US2000
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IXIC
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SOX
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There wasn't a whole lot of change in markets with the Russell 2000 edging back to support. Small Caps remains the most vulnerable to an increase in profit taking with the 50-day MA playing as the last line of support. If there is a loss in such support watch for it to spread to other indices which are holding up better.

RUT Daily Chart


The NASDAQ finished with a narrow range doji just above the 20-day MA. Volume was down, while the MACD and On-Balance-Volume remain in 'sell' mode.

COMPQ Daily Chart


The S&P was another narrow range doji, except without the technical weakness in the NASDAQ.

SPX Daily Chart


The Semiconductor Index remains outside of the rising channel as it morphs into a trading range.

SOX Daily Chart


Will Tuesday offer a more defensive action?

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