Also in today’s video is the US listed Kraft Heinz (KHC) as its tide appears to be turning, plus we also catch up on the Russell 2000 as it continues its journey to the south.
- Eli Lilly (LLY) continued lower after breaking out of its recent consolidation pattern. The target around 176 remains in play and the bias remains bearish below 184.
- Visa (V) is holding beneath the Marabuzo line and has formed two bearish hammers, so we are waiting for prices to (hopefully) turn lower towards the 1983-195 target.
- WTI rallied over 6% due to a supply disruption, erasing the prior day’s gains and removing it from our watchlist for now.
- Gold (XAU/USD) bears (1:08 in the video) are struggling to push prices lower, despite key resistance holding. We prefer to step aside until the market tips its hand.
S&P 500 (-0.55%) 24 March 2021
- The index closed -2.38% below its 52-week high
- 258 (51.09%) stocks advanced and 243 (48.12%) declined
- Energy (2.52%) was the strongest sector and Communication Services (-1.66%) was the weakest
- 8 out of the 11 sectors outperformed the index
- 87.33% of stocks closed above their 200-day average
- 71.49% of stocks closed above their 50-day average
- 48.51% of stocks closed above their 20-day average