Russell 2000's First Drop In 16 Sessions Doesn't Mean The Uptrend Has Ended
The Russell 2000 Index fell 1.3% Monday, to snap its win streak at 15 sessions. That matches the longest such stretch since the 15-day streak ending Feb. 6, 1996. The index of small-capitalization stocks had soared 16.5% during its latest stretch of gains, compared with a 6.1% gain for the 1996 streak. That streak had ended with a 0.2% decline on Feb. 7, 1996, but the index was back at a record close on Feb. 8. The index ran up another 2.5% to a record close one month after the streak was snapped, and another 8.2% three months after the streak ended. A year later, it was up 15%.
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