Analyzing the Performance of S&P 500 and Russell 2000

Breadth continued to improve as indexes started bursting through important levels. The S&P 500 made it above 5,000 while the Nasdaq composite hopped above 16,000 for a moment. Meanwhile, the small-cap Russell 2000 finally got itself back above 2,000. was positive on both exchanges by less than 2-to-1 as the S&P 500 made another effort to move through the 5,000 level. While most stocks are extended, a new crop has recently been setting up. Sprout Social broke a downtrend in a cup-with-handle today while over in insurance, Kinsale Capital finished above a cup-with-handle buy point. Meanwhile, a big earnings gap in Manhattan Associates has tightened up and is worth watching for another potential move.

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