On The Fly: Weekly technical notes for Russell 2000

The Russell 2000 (RUT) is ending the week marginally higher but has been trapped in a range now for months. While the mega-cap indexes take off to new highs, it has been left behind. At the current price of 1573, the 1600 level remains heavy overhead resistance. Support is in the 1550-1540 area. Until the index either break out or down out of this range, it is tradeable but not terribly investable. That may further exacerbate its moribund performance even while it is a relatively reliable trading vehicle.