Of all the four major US Equity Indices (Dow 30, SP 500, Nasdaq 100, Russell 2000), the small caps (IWM/Russell 2000) continue to hold the 2000-2003 Bear Market Low. As the other 3 major indices have breached that level, the small caps continue to diverge from the rest of the US equity market and are not leading the longer term downtrend at this time.
