FANG Stocks Are Lagging, But Smaller Companies Are Breaking Out

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The highest profile technology stocks have been lagging, but a new set of smaller companies appears to be breaking out.

The Russell 2000 small-cap ETF (IWM) has risen more than 6 percent in the last week. The Nasdaq-100, dominated by huge names Apple (AAPL) and Amazon.com (AMZN), has inched lower over the same period.

Here’s another factoid: The number of Russell 2000 members hitting new 52-week highs has spiked to its highest level in more than two years. For the Nasdaq-100, the total is almost nonexistent.

Chart comparing Nasdaq-100 new highs (left axis) to Russell 2000 new highs (right axis).
Chart comparing Nasdaq-100 new highs (left axis) to Russell 2000 new highs (right axis).

The data comes from special indexes regularly calculated by TradeStation. Our servers constantly track data from across the market and various benchmarks. Some of the information is digested and shared under dedicated symbols. Customers can add those to charts and RadarScreen.

Our last post featured indexes tracking the number of stocks above are above key moving averages. This post’s tools count the number of stocks making new highs and lows in the given indexes. (Future articles will highlight some of the smaller companies making new highs.)

SymbolDescription
$52WHNDNumber of Nasdaq-100 Stocks Hitting New 52-week highs
$52WLNDNumber of Nasdaq-100 Stocks Hitting New 52-week lows
$52WHSPNumber of S&P 500 Stocks Hitting New 52-week highs
$52WLSPNumber of S&P 500 Stocks Hitting New 52-week lows
$52WHRLNumber of Russell 2000 Stocks Hitting New 52-week highs
$52WLRLNumber of Russell 2000 Stocks Hitting New 52-week lows
$52WHINumber of Dow Jones Industrial Stocks Hitting New 52-week highs
$52WLINumber of Dow Jones Industrial Stocks Hitting New 52-week lows
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David Russell is VP of Market Intelligence at TradeStation Group. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.