In today’s briefing:
- Russell 2000 With Bullish Breadth Divergences; Buys in Insurance and Health Care Distributors
Russell 2000 With Bullish Breadth Divergences; Buys in Insurance and Health Care Distributors
- Expectations since late-September remain unchanged; if $SPX is above 4165-4200/200-day MA, we’re bullish, as most signs point to this being a normal pullback within the ongoing bullish trend in SPX.
- As discussed last week (10/11/23), we have growing confidence that lows are likely in on the SPX, which made a low at 4216 (with 4200 hit exactly overnight 10/4/23).
- We also discussed Russell 2000 breadth bottoming last week, and this has continued with bullish breadth divergences on Russell 2000 % of stocks above their 50- and 200-day MAs
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