The persistency of the move higher is very impressive. For instance, the Russell 2000 has now finished in the top 20% of its moving 10-day range for 22 trading days in a row.
That is over a month. I looked back at other times this has happened. Below is a list of all prior instances and their 5-day returns.
It is an impressive list, with the only loser being very small. But with only 1 instance in the last 20 years, it is tough to read too much into the results. Still, it does underline the fact that the Russell’s (NYSEARCA:IWM) move is quite impressive, and it is showing persistency that has rarely been seen since the 90s.