Russell 2000: A tame (but sloppy) day
The Russell 2000 (NYSE: IWM) had a tame session Wednesday, gaining 2.76, or 0.41%, ending at 683.74. Price action the last several sessions has been sloppy after yet another double top on daily charts back on Feb. 27. Look for support today at 677 and 670. There is minor support below there at 666 and 660, but a decisive breach of 670 opens the door to test the recent low down at 650. On the upside, resistance comes in at 692, then at 701 and 712.
This morning's weekly claims report at 8:30 a.m. ET might attract a little more interest than this report usually would garner, just because we’re facing the big unemployment release Friday.
