RUT: Bulltard Afternoon

There's nothing like bad consumer confidence numbers to spark a rally and today was no different. The market shrugged off the dismal numbers, held 50% of the morning move and then took off like a rocket in the last hour to close at 482.77. This was on very light holiday volume.

I mention the light volume, because it was the light volume rally the day after Christmas last year that created the top at 800 right before the January collapse.
Rallies on low volume are suspect, so be careful.

Technically the price is holding above the 20MA and a strong green bar materialized closing above the weeks consolidation, so the charts are looking bullish. We'll have to wait and see if it can follow through.

RUT Daily Chart: