The index of smaller-cap companies is experiencing an impressive rise following Jerome Powell's speech. The shift in rhetoric to a more dovish tone gives hope for quicker interest rate cuts, which would provide smaller companies with easier access to capital. They will need this to catch up with larger players who have been the leaders in valuation growth in recent months.
US2000 (D1)
Source: Xstation
On the index, we can observe a return to the consolidation channel between the levels of 2190 and 2482, where the current all-time high (ATH) is located. The price is now only a few percent away from this level. Currently, the rate is in a medium-term upward trend and in the resistance zone defined by the consolidation peaks from the beginning of this year. In the event of a price decline, the first significant support will be the last low at the level of 2190. The next support zone is only at the level of 1980 dollars.
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