Having said that, it's not all plain sailing. The S&P 500 hasn't yet reversed the 'sell' trigger in the MACD, but it's getting there.
I think it needs to test its 200-day MA, if only to offer a catalyst for a reaction. Interestingly, stochastics have consistently remained below the midline, even as the index staged a small rally inside its trading range. is running a pattern similar to the Russell 2000 , but does at least have the benefit of net bullish technicals.
For today, look for a pause in the Nasdaq with perhaps a neutral doji or narrow-range day candlestick. If sellers do come in, the Russell 2000 would be the most vulnerable to take a hit, but given its trading range, it may end up been a scrappy loss.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.
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