Stocks Analysis by Declan Fallon covering: S&P 500, US Small Cap 2000, iShares Russell 2000 ETF, NASDAQ Composite. Read Declan Fallon's latest article on Investing.com
has drifted back to breakout support, but it's no capitulation as the previous chart would suggest. Selling volume rose to register as distribution. Technicals are still net positive, although the index is underperforming relative to the) gapped below its rising wedge, undercutting its 50-day MA in the process. Volume rose as distribution with 'sell' triggers in the MACD, On-Balance-Volume and ADX.
I was going through my charts and came across one I don't normally look at, but I thought it was interesting. The S&P 500 ratio of equal weight, $, $SPY, has reached a value below that of the 2009 bottom. I'm not sure of the significance of this yet as the S&P 500 hasn't reached any capitulation low, but if there is a long trade, then this is one such opportunity.
US Small Cap 2000 Ishares Russell 2000 ETF NASDAQ Composite
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