On The Fly: Weekly technical notes for Russell 2000

The Russell 2000 (RUT) continues to lag its big and mega cap brethren by a wide margin, although the index is set to finish higher at time of writing for the week. At the current price of 1549, the index is below the high of the week in the low 1570s. This 1570 area will for the coming week become the first resistance objective. This would be followed by the long-run resistance level of 1600 which forms the top of the range that has been solidly in place since February. Support for the coming week is in the 1520s.