Russell 2000 Breakout Momentum
The Russell 2000 is trading significantly above its 50-day moving average, indicating potential for a breakout.
Too little corroboration in the last 3 days to call a trend (3 articles). Watching for it to gain traction.
"The Russell 2000 in the U.S. is up about 30 per cent over the past 52 weeks. It hit a record of 3,046.59 on July 1."
"Since reaching their respective year-to-date lowest points on March 30, the Russel 2000 has gained more than 15% till now, outpacing the S&P 500’s 12% gains. The rebound can be attributed to the significant pullback in oil prices and reducing cost pressures for domestically oriented firms."
"The Russell 2000’s 2% rebound after a 10% correction signals a tentative risk‑on turn in U.S. stocks, giving Bitcoin and altcoins fresh 'permission to breathe.'"
"The Russell 2000 ($IWM) has returned to an overbought state with the MACD above the bullish zero line."
"If there is a breakout in the Russell 2000 ($IWM), it will quickly push the index into the 5% zone of historic price extremes relative to its 200-day MA."
"The Russell 2000 is still very discounted relative to the S&P 500."
""a breakout here would get the bulls even more excited because it adds to the 'broadening out' story.""
"The index remains close enough to breakout support, suggesting it can maintain the rally from December lows."
"Of all the indices it's best positioned to advance further as it's still early days for its rally."
"the R2k is trading 2.99 standard deviations above its 50-day moving average, which is pretty extended."