|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 and has traded within the confines of an upward sloping wedge pattern. Recently, the Russell 2000 has rallied to a point where it is once again testing long-term resistance.Notes:
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Quote of the Day"Bulls markets have no resistance-bear markets have no support." - anonymous
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