Russell 2000 Higher and at a Very Important Level

Small-Caps and penny stocks just turned positive as the Russell 2000 moved into the green just after noon. At the opening, the small stock index opened lower and continued lower before bouncing off its intra-day low just above 1,143.

It is now at 1,153 which is a critical point. If the Russell breaks above that price, there will be some support there. That will make it easier to move higher before it hits a significant technical and psychological resistance level near 1,200.

Russell 2000 on Yahoo! Finance