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10 Year Treasury:

A Quick Look at the Technicals

The S&P broke through its 2012 uptrend line yesterday on increasing volume following weakness overseas. Up to this point, the U.S. indices have largely been able to shake off weakness in Europe and Asia, but yesterday saw broad weakness as the S&P made it back to its 20 DMA.


Displaying even more relative weakness are the small-caps as measured by the Russell 2000. After scant gains in February, the weakness has carried into March as the index rounds to the downside, unable to eclipse its 2011 highs:



Further signs of weakness can be found in the Advance/Decline line shifting lower, with fewer advancers on the latest highs and decliners outpacing advancing stocks over the last few weeks: