The Russell 2000 Index (RUT) is holding closer to its January all-time highs, compared with the Dow 30, S&P 500 and Nasdaq 100 Indices, as shown on the following daily charts.
Its momentum indicator remains the strongest, of late, and is above the zero level, as are the others.
As well, the RUT is showing relative strength in terms of the percentages gained/lost on the following year-to-date and 1-week graphs.
All of this suggests that traders/investors preferred to accumulate risk to value lately.
Keep a close watch on the RUT for leadership on any further strength, or lack thereof, as a potential indicator of whether equities, in general, will either rally towards new highs, or drop to new lows for the year, in the near term.
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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
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UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Mon. Feb. 18 ~ U.S. Markets Closed for Presidents' Day
* Wed. Feb. 20 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Thurs. Feb. 21 @ 3:30 am ET ~ German Flash Manufacturing PMI (watch for a hold below 50)...N.B. Jan. 24 PMI came in at 49.9 (now in contraction mode)
* Tues. Feb. 26 @ 8:30 am ET ~ Core Retail Sales Ex Autos m/m & Retail Sales m/m
* Wed. Mar. 6 @ 2:00 pm ET ~ Beige Book Report
* Fri. Mar. 8 @ 8:30 am ET ~ Employment Data
* Tues. Mar. 12 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Mar. 20 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events
NOTABLE POSTS WITH IMPORTANT UPDATES...