Market Overview - The Russell 2000 (IWM) reached an all-time high of 244.46 in November 2021 and has shown a slight increase to 244.98 in November 2024, with a recent high of 245.14 on September 18 [1][2]. Technical Analysis - A monthly close above 243.50 for IWM is necessary to maintain a bullish bias [2]. - The Russell 2000 is currently outperforming the S&P 500, indicating positive momentum for small-cap stocks [11][12]. - The Real Motion indicator shows strong momentum, with red dots clearing the Bollinger Band, but it needs to remain above the Bollinger Band for continued strength [13]. Economic Indicators - A strong consumer base, supported by good wages and a robust labor market, is essential for sustained growth in US-centric companies [3]. - Retail remains a laggard, with the XRT index being 30% away from its 2021 highs, indicating potential challenges in the retail sector [4]. Market Sentiment - There are no significant bearish indicators currently, suggesting a positive outlook for the market [14].