Nasdaq outperforms Russell 2000 and S&P
Since October there has been a back-and-forth tussle in the relative strength leadership between the Nasdaq and Russell 2000. The Russell 2000 awoke from its slumber at the start of November and this helped drive the broader rally across markets as it adopted a leadership role. The breakout in the Russell 2000 has since drifted into a consolidation, and this stall has returned a leadership opportunity back to the Nasdaq and S&P - one which the Nasdaq is taking. The Nasdaq has bullish technicals and a relative uptick against Small and Large Caps. Today's gain didn't reach 1% or register as accumulation, but it's getting closer to challenging the November peak high of 16,053. With buyers pumping money into the index it may be the first to make new all-time highs.