Diamond Member Pelican Press 0 Posted February 27, 2025 Diamond Member Share Posted February 27, 2025 This is the hidden content, please Sign In or Sign Up S&P 500 Remains the Best Bet for Bulls as Nasdaq, Russell 2000 Struggle There was not much positivity to yesterday, even though the supports for key indexes managed to hold. The () showed this best with the undercut of the 200-day MA, then a (double) failed attempt to recover the 200-day MA, but the support level from the ‘bear trap’ still holds. Technicals are net bearish and there have been two distribution days over the past four days. I can’t see ‘bear trap’ support holding for much longer here. This is the hidden content, please Sign In or Sign Up /applications/core/interface/js/spacer.png"> The is in a similar predicament to the Russell 2000 ($IWM), but it’s not struggling below its 200-day MA, but is trying to hold on to January swing low support; should this fail, then the 200-day MA is the next port of call. This is the hidden content, please Sign In or Sign Up /applications/core/interface/js/spacer.png"> After losing its ‘bull trap’, the is now back inside its prior trading range on a mix of technical strength. It’s a long way from the January low and its 200-day MA, making it the index most likely to attract buyers when the return. The index is now sharply outperforming the and Russell 2000 ($IWM), something it has struggled to do in the past. This is the hidden content, please Sign In or Sign Up /applications/core/interface/js/spacer.png"> Finally, the is getting close to a decision point around 4,850; lose this level and the September swing low comes into play. This is the hidden content, please Sign In or Sign Up /applications/core/interface/js/spacer.png"> This is the hidden content, please Sign In or Sign Up #Remains #Bet #Bulls #Nasdaq #Russell #Struggle This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/228854-sp-500-remains-the-best-bet-for-bulls-as-nasdaq-russell-2000-struggle/ Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.