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Markets Little Changed, Russell Gives Back Little Ground

Published 08/27/2014, 05:34 PM
Updated 07/09/2023, 06:31 AM

Yesterday offered a spark of life from the Russell 2000, today offered little. The Russell 2000 gave back a little of the ground it made yesterday, but not enough to negate the gain.

RUT Daily Chart

The S&P 500 finished with a narrow doji - again, a chance to trade the break of today's highs/lows with a stop on the flip side.
SPX Daily Chart
It was same for the NASDAQ,with the same trade prospects.
COMPQ Daily Chart

The semiconductor index has so far resisted follow through on the bearish engulfing pattern. There is a potential bullish set up, and tomorrow could be the day the rally resumes. Technicals are in good shape, and not yet overbought.

SOX Daily Chart

For tomorrow, bulls can look to the semiconductor index, with swing trade/option spread opportunities in the NASDAQ and S&P.

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