The Russell 2000 gave a taste of what is to come by breaking from the first of its bases. This is good news for the S&P and Nasdaq as money flows into more speculative issues. Next up is 1,220.
The Nasdaq is challenging the January swing high, but will face a greater challenge at 4,810. Technicals still show bullish 'buy' triggers, most recently in the MACD.
The S&P finished the day bang on resistance. Will tomorrow be the day?
Tomorrow looks like it will be left to bulls to press today's advantage. The S&P is best positioned to follow the lead in the Russell 2000, but the Nasdaq is not too far behind!
You've now read my opinion, next read Douglas' and Jani's.
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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com, and Product Development Manager for ActivateClients.com. You can read what others are saying about Zignals on Investimonials.com.
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