Daily Report : Most financials lose their medium-term uptrends; Russell 2000 is the first to lose its long-term trend

  • Jason Goepfert

    Jason Goepfert

    Published: 2020-09-24 at 17:32:03 CST

For the first time since May, fewer than 15% of financials managed to hold above their 50-day moving averages. This comes during a poor market environment for the sector, with fewer than 50% of them above their 200-day averages. This has led to much worse returns than when more than 50% were above their long-term trends.; The Russell 2000 became the first of the 'big four' indexes to close below its 200-day average after all 4 had been rallying. It also ended a medium-term rally within a much larger downtrend for the index. Similar behavior in the past led to short-term declines, but not much beyond that.

This post is available to SentimenTrader members only.

Log into your account

To view this blog post, you'll need to log into your SentimenTrader account.

Login to your account

Don't have an account?

Sign up to get RISK-FREE access to all of our indicators, models, commentary and award-winning research.

If you've never tried the service before, there is no charge for the first 30 days. Then pay as little as $1.59 per trading day for access to our award-winning research.

Not ready to signup up for a free trial yet?

Signup for our Daily Lite email to receive highlights of our daily report, research and studies.

Follow us on Twitter:

Find us on Facebook:

Subscribe to our Youtube Channel:

RSS Feed

Subscribe to the Blog RSS feed

Recent Blog Posts

As mentioned in...

Brought to you by:

Sundial Capital Research Logo