With our short week the market did not go anywhere finishing up slightly for the overall week. We are still consolidating under the highs which is a good sign for the bulls. We have completely worked off our overbought status and can make another run for new highs without much resistance.
The Russell 2000 still hasn’t got the memo and made a push back to the highs. The RUT pushed back to its 50 day moving average before gaining strength on Friday. We will need to see the RUT participate in the run if we want to see a strong market.