Which new highs? IWM still below its october high. You got confused by the market! IWM attempted to break the high at the open, but october-high buyers were there where they have been waiting in prayers for a month to get out.
IWM??? That's not "the market"! That's a buncha itty bitty companies whose first interview question when hiring a CFO is "Do you know how to cook?"
I've been seeing him talk about IWM not making new highs so I plugged it into Google to find out it is the Russel. C'mon man, don't confuse the fly weight division with the heavy weights. But I must admit the concept of the CEO making lunch for everyone is new to me!!!
SW: Russell/IWM/etc is the real heavy weight, not in capitalization but in growth, and is the mirror to the american economy. Notice that the market retreated as soon as that index hits its high. This is the second time it pulls the market in recent times. And when the trend was strong, it was leading. It is proof that it is the heavy weight. Growth comes from down to up, not from up to down, and stocks are about growth. PS: I had added something about variance in response to your post in another thread.
I do not look down on those companies. They are the backbone of america, and any great company was sometime ago in that index.