On The Fly: Weekly technical notes for Russell 2000

The Russell 2000 (RUT) has outperformed its large-cap brethren this past week, rising nearly 90 points from trough to peak. At the current price of 1543.18, resistance is at the 1555-1565 area. Support is at the 1520 area. Sector breadth was nearly all positive, with only the Utilities finishing fractionally down for the week. Sectors that were outperformers on the upside were, in descending order of gains, Technology, Energy, Materials, and Healthcare. If the pace of the current recovery extends into the holiday-shortened week, it is possible that the 1600 area or even the life high at 1615.52 could be reached.