Small-cap stocks, as indicated by the Russell 2000, may be signaling a market bottom as they have reached their average PE ratio and could precede broader market recovery.
"some believe that small cap stocks are kind of like the canary in the coal mine will they typically move ahead of the index while other larger companies tend to eventually follow throughout the last five days the price is relatively bottomed returning back to its average p e ratio suggesting that we could soon see a floor throughout the rest of the markets as everything else catches up"