When the market up begins he gets in the commencement of the move, and goes along with it till there are signs of a halt or distribution. - Richard Wyckoff.
Russell 2000 (small cap stocks) continue to break to new highs with volume confirmations. The 10/14 gap was filled and breached on 12/21 with an increased in volume or positive tape despite the light pre-holiday trading. Also, the 10/19 swing high was broken on 12/23, again, with increasing volume in a pre-holiday session.
An AP press release summed up the equity situation faily well. Few called market turn, fewer predict it will last despite the fact that tape continues to confirm.
Russell 2000 (IWM ETF)
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