RUSSELL 2K for a move to 2k?
Small caps have underperformed of late and price action in the Russell is testament to that. We've seen three bearish outside days this year, and granted the sample size isn't huge - a function of viewing this on the daily - but in the prior two episodes, we saw the index fall around 9.5% on average in 7 trading sessions. With bond yields creeping higher, amid ISM manufacturing and NFPs due this week, will small caps continue to see outflows? If we see follow-through and price through yesterdays low then 2k could well be on the cards
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