
Have small caps done enough to negate the breakdown - probably - but real resistance will kick in on the convergence of the 20-day and 50-day MAs.

The S&P finished bang on former support, even with a 2.25% gain.

Look for some upside follow through Friday, but if there is a gap up it could be hard for bulls to push it higher - especially if 20-day MAs are nearby. Doji for Friday?
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.