Small caps setting up for breakout

The small cap stocks have the best setup currently for possible breakout. After the first up leg from bottom, they are having very orderly pullback and any high volume breakout will be a buy.

The small caps Russell Index is trading within few % of its all time high. A breakout above the 2007 high will be very positive.

The fiscal cliff negotiations have resulted in market going sideways here. It seems to be setting up for move in either direction post the agreement. The sideways move is creating some good setups on stocks with momentum and stocks with good earnings. Once the market breaks out, there might be several good setups.

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