The small caps often lead the broader market being a solid indicator of the markets liquidity/risk appetite, the last 12 months has seen the US small cap trade sideways with uncanny consistency which hasn’t vaguely supported the strength being exhibited by the Tech Sector.
- The US small caps failing to advance over the last 12 months is a concern to any bullish outlook.
MM is neutral towards the Russell 2000 (small-cap index)
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