The Nasdaq took a small loss, but not enough to undercut the 20-day MA. Trading volume was also light, typical of holiday trading. Headline writers will want to create a story here but there isn't a lot to work with here - and even less in other indices.
The S&P traded a blip. The small doji is meaningless here. We have a MACD trigger 'sell' from an effectively flat-lined scenario but stochastics (momentum) remains firmly bullish.
The Russell 2000 finished with yet another doji as the 50-day MA continued as resistance
The Russell 2000 holds the key to market direction for the coming months, but it needs to decide on a direction.The S&P and Nasdaq are inching higher, but broader market participation is needed.
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