As the S&P 500 (SPY) nears resistance around 2800, the high beta Russell 2000 (RUT) is nearing its 200 day moving average.
The Russell 2000 is also overbought.
This combination may slow the rally near-term. In today’s video, we take a look under the surface and identify important setups and signals across sectors. Here are a few highlights:
– Small cap stocks (Russell 2000) are overbought and near resistance.
– Is it a case of too far, too fast for Telecom stocks?
– Qualcomm (QCOM) has not joined the rally in Semiconductor stocks.
Stock Market Today Video – February 20, 2019
Twitter: @DanRusso_CMT
Author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
