Yesterday belonged to the Russell 2000. The leading index cracked above the 2011 high, offering new longside opportunities. Technicals continue to rise, although it will be a few days before the bearish divergence in the MACD is challenged.
via StockCharts.com
Large Caps had their time in the sun too. The S&P saw its technicals turn net bullish on higher volume accumulation.
via StockCharts.com
While the Dow finished shy of a push to a new 2011 high.
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The Nasdaq or Nasdaq 100 have yet to enjoy the same strength as the aforementioned indices. Both remain technically net bearish.
via StockCharts.com
So it looks to be up to the Russell 2000 to drive this rally higher. Tech has been a disappointment, but is at least heading in the right direction. Defensive large caps have an opportunity tomorrow to break 2011 resistance, although overall volume has been disappointing (despite being higher). Bulls in control.
