Although it has not been very evident from either the major stock market indices or the business media, a great number of smaller capitalization stocks have been in deep corrections or in bear markets since February. Probably the easiest way to illustrate some of this dynamic is with the iShares Russell 2000 Growth Index Fund ETF , which has been in a downtrend for about five months now. Bit even this index understates how poor action has been in other groups such as small biotechnology, SPACs, and even certain cryptocurrencies.
Wall Street closed sharply higher on Friday buoyed by strong second-quarter earnings results.
The Russell indices show value handily beating growth among small-caps and microcaps, though the tide has turned among larger issues.