On The Fly: Weekly technical notes for Russell 2000

The Russell 2000 (RUT) marked another new 52-week high this past week, eclipsing its large-cap counterparts. At time of writing the index was at 1635.05. For the coming week, the initial upside objective will be in the 1640-1650 area. There had been considerable resistance on the way up last year in that range. A move to 1660-1670 would become the next objective on a breakout. Support is at 1625-1615. The best performing sector by a wide margin for the week was Health Care.