The Russell 2000 had shown the most promise into last week's close and followed that with a move past the most recent swing high - albeit on light volume. In doing so, it returned above its 50-day MA and brings into play the August high as the next challenge. Technicals are all net bullish, including relative performance. This is perhaps the best indication we have for a trade worthy rally as it looks to return above the all-time highs of 2018.
Money continues to cycle into Small Cap growth stocks which is a key driver for a broader rally. In the absence of Trump's Covid-19 diagnosis this would be very positive news but it's hard to know how things will pan out over the next couple of weeks. The election has now become the less volatile issue.
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You've now read my opinion, next read Douglas' blog.
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