Over the past couple of days, the Russell 2000 Index has both broken above its downtrend, and has also recaptured and closed above its 200-day moving average. For a couple of months, small caps were slow to rebound vs. the S&P 500 after the March-bottom – but have recently gathered some momentum. Watch the Russell 2000 (or IWM as the ETF proxy). Small caps are an important gauge on the economic recovery –
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