[Video] Further losses to come for Russell 2000 and WTI?

Sentiment was not favourable for equities or oil prices overnight as global coronavirus cases pick up speed once more.

Downtrend 1

And the path of least resistance may point lower over the near-term too. Whilst WTI and brent shed over 6% yesterday, in context of strong gains over the past 12 months the current retracement appears healthy.

So, in today’s video we update our analysis on WTI and the Russell 2,000 since their recent falls. And we also check in on how the stock Eli Lillie (LLY) is performing since gapping lower last week.

S&P 500 (-0.76%) 23 March 2021

  • The index closed -1.84% below its 52-week high
  • 120 (23.76%) stocks advanced and 385 (76.24%) declined
  • Utilities (1.52%) was the strongest sector and Materials (-2.09%) was the weakest
  • 6 out of the 11 sectors outperformed the index
  • 88.12% of stocks closed above their 200-day average
  • 80% of stocks closed above their 50-day average
  • 50.3% of stocks closed above their 20-day average

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