As for yesterday’s video, the Russell 2000 broke out to new highs in style following the less-hawkish-than-hoped FOMC meeting. It wasn’t alone though, as the main large-cap indices also broke to new highs. But what makes the Russell more special is it broke out of an eight-month range and rose 1.8% on the day. From here we remain bullish above 2334 (low of the small congestion ahead of the breakout), but hopefully any pullback to the prior high of 2360 will remain supported.
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