The Nasdaq suffered a minor loss. It wasn't able to challenge the recent high, but it's close enough so that a small gain could be enough to make new highs.
The S&P took small losses, but not enough to confirm a break of the (tight) trading range from the last week or two.
The Russell 2000 came off a new swing high, which is still on course to test the 200-day MA. Technicals are still in the green.
Bulls haven't been back since the strong rally from the middle of November. However, bears haven't been able to make the most of their absence. If tomorrow is able to take out Monday's swing high then it will send shorts scrambling.
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. I do a weekly broadcast on Friday's at 13:30 GMT for Tradercast, covering indices, FX and gold, silver and oil - all are welcome! You can read what others are saying about Zignals on Investimonials.com.
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