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Another Boring Day For Markets; Russell 2000 Bull Flag?

Published 10/19/2017, 12:13 AM
Updated 07/09/2023, 06:31 AM

There was little to suggest yesterday's action would offer anything of interest going forward. Only the Semiconductor Index managed to recover from a relatively deep intraday spike.

SOX Daily Chart


The Dow broke clear from rising channel resistance. This has no overhead resistance and very little natural support should price reverse from here. However, it marks an acceleration in the advance.

INDU Daily Chart


The S&P was a little disappointing in that it didn't really drive a breakout on a day when the Dow made its move. Technicals are good.

SPX Daily Chart


With the NASDAQ caught between channel support and resistance, there was little of note to report.

COMPQ Daily Chart


Likewise for the Russell 2000, although J.C. Parets makes the case for a 'bull flag'.

RUT Daily Chart


For today, watch the Russell 2000.

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