Significant Divergences in Play
It has been a while since such short term divergences emerged in the market: big gains for Small Caps, struggles for Tech, with Large Caps stuck in the middle. The Russell 2000 chalked up a sixth day of gains as it neatly took out the 'bull trap' and prior highs. The relative performance is off the chart of its historic relationship to other markets. It needs some comeback, but even when that happens it will remain well ahead of other markets. Technicals are net bullish.