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Technical Take: Jan. 16, 2020

Brian’s Technical Take

Yesterday the small cap Russell 2000 (RTY) joined its large cap brethren by breaking out to new 52-week highs for the first time in 2019.  The RTY is up four straight days this week, is leading all major U.S. equity indices with a week-to-date gain of 2.6%, and is now within 2.5% of its all-time highs made back in September 2018. From our 11/19 MIDDAY Update “Now could be the time for small caps,” the RTY has gained 6.7% and outperformed the S&P 500, Dow Industrials, and S&P Midcap 400 indices.

Originally Posted on January 16, 2020 – Dow Powers Past 29,000 as Stocks Rise Again

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