Buyers Grab Small Caps
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 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 tomorrow, it will be about adding to new highs. Small Caps had the best of the action, but can they continue?
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