Value was the lone factor with directionally similar spreads across the capitalization spectrum. Value was positive in each index with the strongest returns in the small cap index. The most attractively valued stocks outperformed the least attractively valued by 3.43%, on average, in the Russell 2000. The small cap Value spread was greater than one standard deviation above average.

Both measures of momentum were positive last week. Stocks that had risen the most over the past six months continued to outperform last week. The spread between the average return of the top and bottom percentiles of Medium-term momentum (MTM) was +3.74% in the small cap universe. Short-term momentum (STM) also rose last week. The biggest winners of the previous four weeks continued to outperform the biggest losers. The small cap STM spread was +2.25%. Both small cap momentum spreads were greate

Medium-term momentum (MTM) was a positive influence. Stocks that had risen the most over the preceding six months continued to be the best performers last week. MTM rose 1.69% in the large cap universe and by 1.46% among mid caps. MTM rose the most in the small cap universe (+2.99%). The small cap MTM spread was greater than one standard deviation below average.