Technical Tuesday - September 08, 2020 - Equities
publication date: Sep 8, 2020
A number of the indices reviewed had a sharp downside reversal last week, which we consider a cautious flag to the advance. We remain cautious the Russell 2000 and Mid-Cap (MDY) and continue to suggest reducing exposure. We are on alert for both the S&P 500 and Nasdaq Composite as these indices approach their near-term support zones. The ratio chart of MTUM vs. SPLV reversed hard from our MOB target level, and we expect more weakness for MTUM. We remain short the TLT.
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