Always consider hidden risks
Russell 2000: Outperforming?
March 8 2016 ( From TradingView )
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The Russel 2000 Index (R2K) was at Technical Crossroads to say the least.
Here is some Technical Observations:
1) R2K is now at 16.0% from its bottom reached on February 11 2016 and
SP500 is at only 10.6%.
2) R2K from highest peak price ( reached on June 23 2015 ) to the lowest
price yet ( reached on February 11 2016 ) was 27.2% and only 15.2% for
the Mighty SP500.
So the R2K outperformed tremendously lately the Mighty SP500 Index. Interesting to note that this ratio reached the bottom of this cycle on February 9 2016 and almost kissed the support from a weekly downward channel that started back since March 2014. R2k are outperforming since then... ( See first chart below - Channel ).
But the real interesting part is that we are now back above the previous Break Down Major Trendline that started back on March 2009 and the 50 DMA (Day Moving Average - Red Line). This is a crucial technical zone and Bulls need to protect it at any costs. ( See second chart below - Red Trendline - Ellipse ).
Russell 2000: Outperforming? $SPY, $IWM #Trading #russell2000 #SP500
Russell 2000 Over SP500 ( Blue Line )
21 WMA ( Top Panel - Yellow Line )
SP500 Index ( Candles )
Russell 2000 Index
Daily Candles - Right Scale
20 DMA ( Yellow Line )
50 DMA ( Red Line )
200 DMA ( Green Line )