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Modest Losses, Lighter Volume Offers Value Via Large, Small Caps

By Declan FallonStock MarketsSep 29, 2015 11:53PM ET
www.investing.com/analysis/modest-losses-on-lighter-volume-266577
Modest Losses, Lighter Volume Offers Value Via Large, Small Caps
By Declan Fallon   |  Sep 29, 2015 11:53PM ET
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Yesterday wasn't a day of carnage as was Monday, and with support coming into play for certain indices there is a chance bulls might be able to mount something here. Volume was down from Monday, another sign sellers could be exhausting themselves out.

The Russell 2000, having exceeded its August, could be the first to mount a recovery. Keep an eye on relative performance to the S&P; an uptick here could be the cue for a rally back to channel resistance - a decent return. Alternatively, fish with GTC buy orders down at channel support.

RUT Daily
RUT Daily

The S&P closed with a spinning top just above August's swing low. While technicals are in poor shape, price action may be able to offer more. Key will be holding 1,867.

SPX Daily
SPX Daily

The NASDAQ hasn't yet pushed down towards the August low. Shorts will probably be looking to milk the last of this decline as the risk of a short covering surge for Large and Small Caps indices increases.

COMPQ Daily
COMPQ Daily

NYSE Breadth may also be forming a bullish divergence, although for this to be successful breadth will need to tick up soon.

NYSI Daily
NYSI Daily

NASDAQ breadth is close to a repeat of the 2011 bottom. Just Bullish Percents and Percentage of Stocks Above 200-day MA to confirm.

NASI Daily
NASI Daily

Long-term buyers can be looking to add to their positions as there is plenty of value across Large and Small Cap stocks. Short term, things are turning more neutral after bears had comfortably held control.

Modest Losses, Lighter Volume Offers Value Via Large, Small Caps
 

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Modest Losses, Lighter Volume Offers Value Via Large, Small Caps

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