Russell 2000 Falls Over 5% From Highs as NYSE Downside Volume Hits 54%
Updated
Updated · Yahoo Finance · Sep 21
Russell 2000 Falls Over 5% From Highs as NYSE Downside Volume Hits 54%
2 articles · Updated · Yahoo Finance · Sep 21
Summary
NYSE downside volume has climbed to 54% of total trading near year-to-date highs, while the Russell 2000 has dropped more than 5% from its peak—signals BTIG says point to fading risk appetite.
Higher oil prices, rising Treasury yields and expectations for another Fed rate increase before year-end are pressuring confidence beneath a market that has otherwise stayed resilient.
Since 1996, this combination has appeared 12 times; forward returns were mixed for the S&P 500, but the Russell 2000 averaged losses of about 2.1%, according to BTIG.
The S&P 500 still sits only about 3% below its Aug. 13 record of 7,798.99 and remains up roughly 11.7% this year, supported by megacap tech earnings and selective dip-buying.
Truist's Keith Lerner said the primary uptrend remains intact, arguing underweight investors can add exposure and use any deeper pullback to become more aggressive.