Buyers Grab Small Caps; S&P 500 Continues To New Highs
Declan Fallon | Feb 28, 2017 12:01AM ET
Traders had the weekend to study the opportunities and decided there was value to be found in Small Cap stocks. The Russell 2000 added nearly 1% as the positive test of the breakout, 20-day and 50-day MAs expanded. The index did see a relative performance gain, but not enough to trigger a new 'buy' in this indicator.
The S&P continued to make new highs, albeit on low volume. Little else to add.
The NASDAQ registered an accumulation day on higher volume accumulation. These gains were enough to reaffirm the 'buy' trigger in relative performance, but this will likely slow after a strong 2017.
For today, it will be about adding to new highs. Small Caps had the best of the action, but can they continue?
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