On The Fly: Weekly technical notes for Russell 2000

For the week the Russell 2000 (RUT) outperformed its mega-cap index counterparts by a significant margin. With price last at 1565.73 at time of writing, the 1600 area becomes the upside objective for the coming holiday-shortened week. Support is at the 1540-1530 band, which was previously resistance. The leading sectors for the week were Technology, Communications Services, Energy, Basic Materials, Industrials, Health Care, and Consumer Discretionary. The Financials and the Utilities were the under-performers of the week.