Russell 2000 Ends The Week On A High; General Trend Remains Up

After drifting towards a period of underperformance relative to the and , last week the was finally able to post same gains to at least stall the weakening momentum.

The Russell 2000 (via ) was able to make its stand at its 20-day MA on higher volume accumulation. However, it still has ‘sell’ triggers in the MACD and On-Balance-Volume.

IWM Daily Chart

IWM Daily Chart

Still, there wasn’t much change in the NASDAQ or S&P.  The NASDAQ was also able to bounce from its 20-day MA, leaving only a ‘sell’ in its MACD.

COMPQ Daily Chart

COMPQ Daily Chart

The S&P didn’t experience a big percent change, but it did experience confirmed distribution with a ‘sell’ trigger in On-Balance-Volume.  Despite this, support remains.

SPX Daily Chart

SPX Daily Chart

We head into this week with 20-day MAs holding as support across indices. Intraday ranges have been very narrow, so expect anything above 1% to be reported as a «surge» or «collapse,» but the general trend has been higher and it’s going to take quite a bit of selling to change that.

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Источник: Технический анализ Investing.com

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