US Small Cap 2000 Index
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RUT Russell Small Caps

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Small caps have not been as enthusiastic about the rally as tech and SPX in the run up since March. We see that it's been making lower lows and lower highs since August 11 peak, and RSI has been showing continuing weakness on the daily chart. If SPX is going to have a meaningful sustainable rally, it's going to need the small caps and financial sector to follow suit. This has not been the case.

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