On The Fly: Weekly technical notes for Russell 2000

The Russell 2000 (RUT) notched another new life high this week, but is set to end the week well off that new high of 1410.40. The 1400 level, and then the new high, are resistance levels to watch for the coming week. At the current price of 1390.32 at time of writing, next support is at 1381.98. For the week, the sector skew was far less extreme than in the past several weeks. The one exception to that was pronounced weakness in Energy names, the biggest losers of the week. Utilities were the strongest gainers. Other sectors were up or down by significantly less than a percentage point.