Market Analysis (29 March’21)

The S&P500 retreated from a record Monday, pressured by declines in shares of banks and technology stocks. Financial stocks led declines after a large investment fund last week unwound billions of dollars in holdings, triggering concern that global banks that dealt with the firm could face sharp losses.

FUTURES PRICE LEVELS

S&P500

Key pivot levels: 3980 and 3880

ES, 1h

Nasdaq

Key pivot levels: 13150 and 12800

NQ, 1h

RUSSELL RETREATS AGAIN

The small caps Russell dropped 2.8% today. If RTY continues to drop during the next several sessions and closes below the 2100 support, this would be a major warning sign.

RTY, 1h

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