The S&P is on its way to challenge 2,125 with the rally re-established.
The Nasdaq confirmed support of 4,900 with the bullish engulfing pattern on Friday's doji.
The Russell 2000 tagged high of the channel and has inched over its 200-day MA. Watch for a channel resistance breakout tomorrow.
Today ticked more boxed in the bull column and left little for bears to cling on to. With 200-day MAs nearby, markets could be looking at a key support level been formed going forward. Important now will be for indices to pull away from March/April consolidations.
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 also trade on eToro and can be copied for free.
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