The Russell 2000 index RUT, +1.91% of small capitalization stocks soared 2.1% in afternoon trade Tuesday, to put it on track to close above its 50-day moving average for the first time in three weeks. The 50-day moving average is viewed by many chart watchers as a short-term trend tracker. The Russell 2000 was at 1,546.10, while the 50-day MA came in at about 1,540.53, according to FactSet. The index was outperforming its large-cap brethren, which could be a bullish sign for the broader market's technical outlook, as the Dow Jones Industrial Average DJIA, +1.79% was about 330 points below its 50-day MA and the S&P 500 SPX, +1.67% was 1.5% below. Tom McClellan, publisher of the McClellan Market Report, has often said small caps are generally more sensitivity to overall market liquidity than large caps. "So to see small cap stocks outperforming is a sign that liquidity must not be in short supply," McClellan wrote in a recent note to clients. "Or at least that is the case most of the time."