Friday offered a low key finish to the week with both the S&P and Russell 2000 left much as they were on Thursday—ready to break out. Technicals are net bullish, with the Russell 2000 (via iShares Russell 2000 ETF (NYSE:IWM)) enjoying a relative performance advantage against both the NASDAQ and S&P.
The NASDAQ remains within its rising channel on a slight uptick in accumulation. The MACD finished with a 'sell' trigger but other technicals are bullish.
Friday wasn't much different to Thursday, but the breakout potential remains for the S&P and Russell 2000. The latter is key to the long-term health of the market; the former offers an outlet for money looking for safety.