Today’s 3% market plunge wrecked havoc on the otherwise bullish conditions of the broader US Indexes. Oil rose drastically, and other commodities benefited as the Dollar Index fell as well. The Russell 2000 and the NASDAQ are still above or testing their rising daily key moving averages, but the Dow is well beneath these key…
Who expected such a large recovery would occur today? Let’s take a peek at some of the daily chart action in the broader indexes for clues as to why this intraday rally was so remarkable. First, the Small Cap Russell 2,000 daily chart: As mentioned previously in Small Caps Strongly Outperforming, the Russell 2,000 Index…
For those of us who mainly follow the “Big Three” US Stock Market Indexes, you might be surprised to find that the Russell 2000 – Small Cap Index – has outperformed the S&P and Dow Jones, and is closer in recent performance to the NASDAQ. Let’s see the Russell’s recent dominance: I’m showing the actual…