Russell 2000 attempts to break out of seven-month downtrend.

The Russell 2000 Index is attempting to break out of a seven-month downtrend, potentially signaling a shift in market dynamics. The index is down 5.2% year-to-date and has been in a downtrend since February. BTIG's Jonathan Krinsky believes this breakout could be a significant market signal, although it's too early to determine if it will be sustained.

The Russell 2000 Index (NYSEARCA:IWM), which tracks the performance of small-cap stocks, is attempting to break out of a seven-month downtrend, according to Jonathan Krinsky, chief market technician at BTIG. The index, which is down 5.2% year-to-date, has been in a downtrend since February [1].

The potential breakout could signal a significant shift in market dynamics. However, Krinsky cautions that it is too early to determine if the breakout will be sustained. The Russell 2000 Index has faced challenges due to broader market conditions and sector-specific issues, but the recent signs of improvement suggest a potential turnaround.

Adding to the positive momentum, Sanuwave Health (NASDAQ:SNWV) announced its inclusion in the Russell 2000 Index, effective after the U.S. market opens on June 30. This inclusion not only adds to the index's diversity but also reflects the company's performance and growth prospects [2].

Investors and financial professionals are closely watching the Russell 2000 Index for further developments. While the recent signs are encouraging, the market's volatility and the potential for continued sector-specific challenges warrant caution.

References:
[1] https://seekingalpha.com/news/4455136-small-caps-showing-signs-of-potential-breakout-btig
[2] https://seekingalpha.com/news/4453201-sanuwave-health-announces-inclusion-in-russell-2000-index