5 replies to this topic

[trioderob]

Rut 2000 value is having a very strong day - up over 3% at 8 am  PT

 

this index has been a absolute dog being down over 20 % ytd as of last week 

 

thats a good sign for the overall health of the US markets 

[OEXCHAOS]

I agree.

 

M

[steadyquest]

Yeah - good looking chart that one.  Stuck in a rut since May.  Is the thinking that it can only go up from here?

 

 

[orange]

The question is whether the downtrend is over?

The market is either consolidating here for a further push up, or it's already rolling over to re-test the low. Usually on large two day move like we had you see consolidation with a bearish bias right before it continues rallying. So let's see what happens tomorrow. If the rally is more than short covering, we'll likely see more pressure tomorrow before the rally continues. SPX needs to hold 3300. After that 3270.

The DOW failed to hold its prior breakdown level. Unfortunately I didn't get short overnight. I'm just trying to play the pivots.

Edited by orange, 29 September 2020 - 04:08 PM.

[orange]

Just on the front of it, IWM looks bearish. Sink-rally-sink. The market really needs to step up tomorrow IMO, or we're headed right back to lows.

[steadyquest]

If you think IWM looks bearish, check out the ratio of IWN / IWM.  A second question is whether value stocks actually contain any value.  It seems that Investors think not.

 

https://realinvestme...value-in-value/