Last week’s rally was largely confined to the large caps with the Russell 2000 small cap index treading water following their 10% correction in early March. Unlike the NASDAQ which has rebounded strongly to be once again testing all-time highs, the Russell remains ~5% below their equivalent milestone. While the RTY looks destined to again test all-time highs, it’s very 50-50 just here and it’s losing momentum fast.
MM is marginally bullish the small cap Russell 2000 Index targeting the 2400 area.
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