Daily Market Commentary: Small Caps Lead Out

Small Caps drove today's gains, despite the overbought nature of the market. Small Caps extended their relative strength advantage over the other indices. Strength in this index should help lead out the other indices.

The Dow did its best to keep the punters happy.  It still hasn't reached resistance yet.

Although the S&P is back rubbing against channel resistance.

Along with the Nasdaq

Tomorrow may see a return of sellers, but it's going to take more than one bad day to break this advance.  While at resistance, selling is favored. Aggressive shorts may wish to play for a move to rising support.

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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. You can read what others are saying about Zignals on Investimonials.com.

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