On The Fly: Weekly technical notes for Russell 2000

Like its big cap brethren, the Russell 2000 (RUT) is ending higher for the week. It has, however, settled into more of a range. At the last price near 1560 at time of writing, the index is set to end not far from its highs. The 1550-1530 area and notably 1550 now seem like a strong line of support. Above current price, the 1600 area is the next big line of resistance. Sectors that performed best were Energy, Health Care, Technology, and the Financials. Consumer Discretionary and Materials were the weakest.