2024-02-17 06:31:31 ET
Summary
- Small caps (or Russell 2000) have broken out from a 10-month base, which is a compelling buy opportunity.
- This breakout suggests the beginning of a powerful bull market in small and mid-caps, and potential outperformance over large and mega caps.
- Equal-weight sector ETFs show strong uptrends in technology, industrials, healthcare, financials, and consumer discretionary sectors - which are the key sectors within the Russell 2000.
- I have started accumulating longs in the Russell 2000.
Small caps breaking out of 10 month base
Small caps completed a major bullish reversal, erasing initial losses suffered after a hotter-than-expected CPI data print....
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For further details see:
Russell 2000 Breaks Out From Big Base, Still 20% Upside To New Highs (Technical Analysis)