Today ER2 has a 2.43% range (18.10 points) compared to NQ with 1.27% and ES with 0.93%. Is this expiration day oddness or something else?
I don't normally follow that index but it may have something to do with "pinning" the market at the 750 strike price instead of 760. Earlier in the week, that's where it was settling.
the russel was the first and strongest index to turn up outta the low, and even prior to the low it held better relative strength. today, it is notably relatively weaker, to the other indexes...the leaders are leading, the troops are resisting following. this is additionally notable in the face of declining oil, as the indexes are no longer trading 'as squirrelly', relative to oil, (either up or down). the relative weakness in the russell today may more fully manifest itself in the coming days / week(s), if for example, the market makes a downward break, the russell may accelerate its relative weakness, relative to today, (as well as the other indexes)