On The Fly: Weekly technical notes for Russell 2000

The Russell 2000 (RUT) is set to end the week relatively flat against the prior week close, but down from the new lifetime highs of Monday and Tuesday. The breakout that began on May 16 is still valid. For the coming week the life high area at 1640 up to 1650 becomes the probable upside objective. Support is at the 1615-1610 area, at the prior life highs. The best performing groups for the week were Consumer Staples, Financials, and Industrials. All groups finished in the green.