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The Russell 2000 Index ($IWM) achieved a historic milestone by closing 4.4 standard deviations above its 50-day moving average on July 16, 2024. This unprecedented event marks the first time any major US index, including the Dow Jones Industrial Average, S&P 500, and Nasdaq, has closed at such an extreme level. Intraday, the Russell 2000 was closer to 3.88 standard deviations above its 50-day moving average, which would have been a record overbought reading for the index. According to Bespoke, the Russell 2000 closed nearly 4.5 standard deviations above its 50-day moving average, a rare occurrence in over fifty years.
According to Bespoke, yesterday July 16, 2034 the Russell 2000 closed 4.4 std deviations above its 50day ma. No other major US index (Dow since 1900, S&P 500 since 1928, and Nasdaq since 1971)has ever closed at that much of an extreme. https://t.co/gJwXJkaQbs
The Russell Index $IWM closed nearly 4.5 standard deviations above its 50 day moving average. This hasnt happened in a major stock average in over fifty years... @realmoney @dougkass @tomkeene @business @ferrotv @convertbond @carlquintanilla @guyadami @cnbcfastmoney @halftime… https://t.co/N1xOe4lfYC
$IWM daily B.Bands ⬆️ A rare close above 3STD 😲 https://t.co/pxIXC5wQqS