The Russell 2000 (RUT) reached back exactly to the previous 2010 high, but its chart leaves little more to go on than the fact that the path of least resistance would be a digestion of recent gains.
Consumers spent a little more than was expected of them. And manufacturing did a little better than expected too. On the other hand, the federal government’s tax receipts plunged.
The stock market indices ended narrowly mixed today after a strong morning reversed and a strong sell-off in the afternoon brought them back to near the zero line.
In order to have the best chance for profitability in the current, short-term rally, it's important to focus on specific sectors and industries showing the most relative strength to the overall stock market.
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