On The Fly: Weekly technical notes for Russell 2000

At time of writing, the Russell 2000 Index (RUT) was set to end the week up fractionally but off best levels. Price was last at 1565.12. At that price, resistance is at the 1580-1600 area. Support is at the 1550-1525 area. In spite of today's pullback, sector breadth was positive for the past 5 days. Energy and Materials, as with the S&P 500 (SPX), were the best-performers by a wide margin. The relatively weakest sectors were Health Care, Utilities, and the Financials.