[Video] Small caps stumble at the highs, WTI and gold look to the Fed
Matt Simpson March 17, 2021 3:56 AM
Russell 2000 bulls were knocked abruptly from their bullish perches overnight, as weak economic data and profit taking ahead of today’s FOMC meeting ensued.
Volatility has been mostly lower ahead of today’s highly anticipated meeting. And that is usually the case as traders square up positions to mitigate risk and liquidity thins out. But this liquidity (and along with it, volatility) is likely to return following the meeting, which could create some interesting moves across major asset classes such as currencies and commodities.
So, in today’s video we look at key levels for WTI and gold, then highlight the potential for the Russel 2000 to carve out a deeper retracement.
S&P 500 (-0.16%) 16 March 2021
- The index closed -0.19% below its 52-week high
- 287 (56.83%) stocks advanced and 215 (42.57%) declined
- Communication Services (0.93%) was the strongest sector and Energy (-2.8%) was the weakest
- 6 out of the 11 sectors outperformed the index
- 88.32% of stocks closed above their 200-day average
- 86.73% of stocks closed above their 50-day average
- 79.6% of stocks closed above their 20-day average
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