On The Fly: Weekly technical notes for Russell 2000

The Russell 2000 (RUT) will end the week higher, but off its best level of the week at the new life high at 1452.05. That level is now initial resistance, but there is no established resistance thereafter. Support is at the 1430 area, which had previously been resistance. In terms of sectors there were none that finished in the red this week. Consumer Staples was the big winner, with Utilities next, which managed to even outperform Technology. The weakest sectors on a relative basis, but still ending positively, were the Financials and Industrials.