It's More Of The Same: Russell 2000 Range Bound As S&P And NASDAQ Lead
Declan Fallon | Jul 27, 2021 12:22AM ET
Trading after the weekend didn't deliver any change on Friday's position. On Monday, the Russell 2000 (via IWM) couldn't follow the lead of the S&P and NASDAQ, instead posting yet another neutral doji. Buyer indecision for growth stocks remains a concern as the trading range remains no closer to being breached.
The NASDAQ edged higher on light volume. Aside from the MACD, technicals are positive—but the MACD is close to a new 'buy' trigger.
The S&P closed the day with a MACD trigger 'buy' as other technicals stayed positive. There is a growing bearish divergence in the MACD but nothing too damaging yet.
Nothing more to add for the indices from Friday. The Russell 2000 is still the index to watch as another day passed without traders showing their hand.
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