The S&P 500 has posted a 'bullish' hammer on 4,275 support, although the reversal potential of this candlestick is reduced by intermediate-term momentum caught in a bit of no-mans land, but short-term momentum is oversold and volume registered as accumulation. What the strong finish has also done is set up a new relative performance high against Small Caps via the Russell 2000 ETF .The Nasdaq has also rallied from 13,000 support and has a number of convergences working in its favor.
GameStop shares reached a new 52-week low last week and are now in the red for the year. Retail investors have moved on to other sectors and names while institutional investors... American shares have been the upside outlier for performance leadership for much of the year for the major asset classes, based on a set of proxy ETFs through Friday’s close...We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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Source: Investingcom - 🏆 450. / 53 Read more »
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Source: Investingcom - 🏆 450. / 53 Read more »