Russell 2000 futures rise

The Russell 2000 (NYSE: IWM) futures have gained, even though the spread has narrowed, and the small-cap index will likely open in positive territory.

Small-cap stocks started out the week with a bang, with the Russell 2000 soaring 19.86, or 2.91%, to 701.28 on Monday. The surge lifted the index to the highest point since late February, and also provided some nice upside support for bullish patterns visible on weekly charts.

Look for resistance Tuesday at 705, 714 and 724. Meanwhile, support is just below the market at 694, 685 and 680. There could be some fireworks in the morning coinciding with the 10:00 a.m. ET release of consumer confidence data.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Zhongpin Inc. (HOGS), up 18% on news it swung to a fourth-quarter profit.
• China Automotive Systems, Inc. (CAAS), up 12% on news of a rise in fourth-quarter profit.
• Electro-Optical Sciences, Inc. (MELA), up 8%.

Biggest percentage losers:

• SiRF Technology Holdings, Inc. (SIRF), down 21% on news of a lower first-quarter revenue outlook.
• Capital Corp of the West (CCOW), down 10%.
• Zumiez Inc. (ZUMZ), down 3%.

Kevin Pendley contributed to this report.

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