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Despite the sharp drop last week, the small and mid caps are still leading the market higher. Though some analysts are expecting the large caps to take over, there are no signs of that yet. The RS analysis of the S&P 400 turned positive on February 12, and on February 18 for the S&P 600. The S&P 600 is up 22.3 % from the February lows, the S&P 400 is up 21.4%, and the S&P 500 is up 15.6%. There is next major resistance for the S&P 400 at 880—the 2008 highs—and for the S&P 600, resistance is at 402.
