The Russell 2000 holds the key for 2024
- The stock market obviously continues to act very well. It’s completely ignoring the rise in tensions in the Middle East, so that could present some serious problems at some point. However, unless or until that war spreads in a significant way, investors don’t seem to care about this issue.
- The Russell 2000 has broken out of its 18-month sideways range, so that is quite bullish. It is getting quite overbought; thus it could see a pullback at any time, but that won’t present a big problem unless the decline becomes a significant drop….…..How this small-cap index acts in Q1 of next year could/should be very important for how the entire stock market acts over the full year of 2024.