We note that nonresidential construction, even with the jump in the second quarter, is still near its all-time low relative to GDP, so gains there should continue, given the highlevels of liquidity in the economy.
The Russell 2000 set a new alltimehigh at 914.15 on Friday with a monthly pivot at 911.32 and weekly and semiannual risky levels at 948.81 and 965.51 Russell 2000.