The Russell 2000 Index has been consolidating in a narrow range since late February. The last six weeks of this pattern straddled the 200 day moving average. This week the 200 day, along with the 50 day moving average, are in position to support a fresh rally leg. With two hours left in the session the IWM is heading for its best close since Oct. 9th of last year. A very bullish sign. This key index has plenty of room to run once the $160.00 area is convincingly cleared. Heckuva way to end the week.