Is the US2000 Trying to Tell Us Something?
The stock market rally has been all about mega-caps, but small caps are quietly starting to show up.
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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The stock market rally has been all about mega-caps, but small caps are quietly starting to show up.
Cooling inflation, softer yields and a weaker dollar are steadily improving gold's macro backdrop.
Oil, the dollar, gold and equities are approaching key levels as rates and geopolitics shape the next cross-asset move.
The SPX500 remains bullish on strong earnings and positive momentum, but inflation, yields and oil now hold the key to whether the rally can extend.
Weak jobs are lifting markets because lower rate risk still outweighs recession fears.
The GER30’s global giants are powering it to record highs, but stretched momentum suggests the bulls may need a breather.
Gold’s improving momentum and strong long-term support suggest the recent sell-off may offer an attractive entry point.
Oil, the USDOLLAR, XAUUSD and JPN225 are nearing decisive levels that could reveal the market’s next major conviction trade.
The SPX500 is closing in on record highs, powered by strong earnings and oil-price relief, but rising yields and inflation risks still threaten the breakout.
Warsh’s decision to let markets do more of the Fed’s work has pushed long-term yields higher while raising fresh doubts about his inflation-fighting credibility.
UKOil remains bearish below $86 as easing Iran tensions strip out geopolitical risk.
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