Small caps outperform as Russell gains over 1 percent, Craig Shapiro notes

Small caps outperform as Russell gains over 1 percent, Craig Shapiro notes
Russell outpaces as small caps rally

Craig Shapiro reports that ES is up 0.38 percent and NQ is gaining 0.46 percent, with the Russell outperforming at a rise of 1.21 percent, indicating a risk-on sentiment toward small-cap stocks.

He also observes that breadth quality is mixed, with the advance/decline ratio at 1.71 but only 59.3 percent of stocks above their 50-day moving average. The McClellan oscillator is described as neutral at 13.2, while materials and financials are noted for their relative strength.

Shapiro recently reported a rally in the U.S. dollar as front end yields rose, with gold, silver, bitcoin, and copper touching session lows in a previous update. Earlier, he identified Broadcom’s AI revenue guidance miss as the first major repricing signal for the sector in 2026 in another report. These observations reflect ongoing tracking of key market moves.

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