the small-cap Russell 2000 had pulled back to support of both its 10 and 20-day moving averages. It was therefore not surprising that the bounce off key support enabled the Russell 2000, with textbook precision, to lead yesterday's broad-based rally. The Russell has showed the most relative strength of the main stock market indexes since the mid-July lows, and it once again outperformed the percentage gains of the rest of the major indices in yesterday's session. Looking at the daily chart below, notice how the Russell has moved back above its 50-day MA. It is the only broad-based stock market index that has done so:
No comments:
Post a Comment