{+++} The culprits right now are the Nasdaq and the Russell 2000. I’m not so worried abut the Dow and S&P because the outflow is moving funds from the former into the latter.
The question is whether or not they have stopped going down. Here is what is interesting (and may be some good news), if you go all the way back to Feb. 2013, you can see that the 100 day simple moving average has held as support. It is the purple line on the chart below. There was a slight overthrow of support in June 2013 on QQQ but that’s not a big deal at all, it recovered immediately. We are on the 100 day right now.
With the Russell, the same takes place, with the exception of the overthrow in early Feb. It then rallied and went on to new all time highs. The 100 day ma was great support.
Similar with the Russell 2000
We are still in knife catching territory for now. No setups until we put in a solid reversal day. Hopefully the bulls can get cracking this week.
See you in the morning.