Russell 2000 index rises 3.6% as investors shift from large-cap tech to smaller firms ahead of Fed rate cuts.
The Russell 2000 index rose 3.6% amid investor rotation from large-cap tech stocks to smaller firms expected to benefit from Fed rate cuts. The index broke out of a symmetrical triangle, indicating potential for a new uptrend. Technical analysis projects a short-term target of 2,295 and a long-term target around 2,500. If retracements occur, the index may retest the symmetrical triangle's top trendline near 2,080.
July 12, 2024
3 Articles