Russell 2000 Index Chart for week of November 4
We got the weekly close above 1585 on Friday for the Russell 2000 Index INDEXRUSSELL: RUT, which puts the short-term tactical call in line with our long-term bullish call.
My firm is also bullish on the Mid-Cap Index (MDY) but looking for a move above 364 as confirmation.
It’s great to see small and mid-caps joining the party with the S&P 500, which we are targeting for 3180 in the coming months.
Momentum is building, and we expect further upside.
We have seen very good follow through on the S&P 500 with the index clearing our MFU-4 target area of 3040.
The index is in gear for another leg higher to our long-term target of 3180.
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