Still Many Broken Charts Despite the Index Rallies; Russell 2000 Under Performing

By Trader Mark
04 November 2009 @ 11:45 am EDT

Something that has been apparent lately is the weakness in small and mid caps, masked by the relative strength in large caps.  We can see this in the indexes - while we've corrected some in both NASDAQ and S&P 500 it is nothing like what I am seeing on individual stocks.  I don't often post a chart of the Russell 2000 which is a much broader index, combining S&P 500 type of companies with a good selection of mid cap and the larger stocks in the small cap universe but you can see what I am talking about in a picture.  We're not even close to the 50 day moving average in this index - unlike NASDAQ and S&P 500.

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