Technical Tuesday - May 19, 2020 - Equities
We have all of the indices reviewed at or very close to areas where we would be expecting some near-term weakness. Our favored shorts would be in the Russell 2000 and Mid-Cap (MDY). The Dow Transports and Utilities are in a very weak technical position, and we expect further weakness from here. The S&P 500 rallied back up into its MFU-2 target of 2953, and we would take a short here as well.
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