Daily Market Commentary: Strong Day for Russell 2000
It was a modest day for the S&P, Dow and Nasdaq indices, but it was a better day for the Russell 2000. The recovery in the Russell 2000 after the channel breakdown took a big step forward as it worked itself off its 50-day MA and finished above its 20-day MA. The breakdown remains, but this will likely shape itself into a broader (more shallow, and therefore more sustainable) rally.