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Thursday, March 28, 2024

Joe Friday: Momentum Back at 2007 Levels For Small & Mid Caps

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.


Small and Mid Cap monthly momentum is reaching lofty levels last seen in 2007.

At the same time both are hitting Fibonacci 161% extension levels based upon their 2003 lows and 2011 highs as a resistance line off the 2003 lows is coming into play at (1) below.

Joe Friday: “The situation is not bearish at this moment, but it does suggest caution for long-term bullish holdings.”

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