On The Fly: Weekly technical notes for Russell 2000

The Russell 2000 (RUT) is set to end just below the 1700 level at time of writing. Earlier today it set a new 52-week high at 1715.08. Despite the pullback, the index is still ending the week strongly on the upside. Resistance for the forthcoming holiday shortened week will be in the range of 1710-1740. Support is at the 1690-1680 area. The best performing sectors for the week were Communications Services, Health Care, Utilities, Technology, Consumer Discretionary, and Industrials. The weakest sector and the only one to finish in the red for the was Energy.