|For some perspective on the current state of the stock market, today's chart presents the long-term trend of the Russell 2000 (small-cap stocks). As the chart illustrates, the Russell 2000 rallied from late 2002 into the mid-2007 and then effectively gave all of that back during the financial crisis. Since the financial crisis, the Russell 2000 has been rallying sharply to the upside (with the exception of a brief "fiscal cliff" induced selloff in November 2012). Since early March 2014, however, the Russell 2000 has moved significantly to the downside and is now testing support of its upward sloping, post-financial crisis trend channel.Notes:
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Quote of the Day"The greatest thing in this world is not so much where we are, but in what direction we are moving." - Oliver Wendell Holmes
Events of the DayAugust 25, 2014 - US Open tennis tournament begins (ends September 8th)
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