Republic Risk: Bond Bust 2.0?
Equity Storm Warning Is GREEN on the S&P 500 and the Russell 2000.
We’re still sitting in positive territory, as the S&P 500 remains above its 20-day moving average with no signs of slowing down.
The Russell 2000 recently bounced off its 20-day moving average as well, popping again on positive earnings reports and a wave of capital flowing off the sideline. That said, selling pressure is VERY apparent in this market - meaning that a large number of stocks are falling - and have been doing so for the last month.
About 65% of stocks are above their 50-day moving average, down from over 80% at the start of the year.
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