2018-03-23 13:47:10 | On The Fly: Weekly technical notes for Russell 2000For the week, the Russell 2000 (RUT) is set to end down with price last at 1537.03 at time of writing. While the performance on the week relaitvely bested the S&P 500 (SPX), the Russell 2000 has now broken the uptrend support line off the lows of February. This is technically bearish for future price. Next significant support below would be at the 1520-1500 area. Resistance is at the 1555-1565 area. Sector breadth for the week was overall negative. The only sectors to finish in the green were the Utilities and Energy. The sectors leading on the downside were Technology, Consumer Staples, Basic Materials, Health Care, Consumer Discretionary, and the Financials. |
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