Russell 2000 Loses Critical Support As MoMo Massacre Accelerates

Tyler Durden's picture

Momentum, or high-growth hope, stocks are making fresh lows of the February Tarullo Top as this morning's mysterious buying panic sparked by housing data has relapsed into aggressive selling pressure. The Pharma frenzy is fading fast also. The Russell 2000 has broken below its 200DMA once again - a critical support level - and Nasdaq and Trannies are making new lows from Friday. All US equity indices are now in the red for April.

Biotechs not getting a bounce from the Pharma frenzy as momos just keep tumbling from Tarullo's top...

 

As the day's chaos evolves once again...

 

Leaving all US equity indices under water for April and Russell below its 200DMA once again

 

As AUDJPY takes over charge of S&P futures from USDJPY...