One index which has offered plenty for bulls has been the Nasdaq 100. Brexit treated this index particularly well with no real pullback since those lows. Trend followers should be very pleased with the bullish action with no reason to be a seller yet.
Helping the Nasdaq 100 has been the Semiconductor Index. It did manage to break from a 'bull flag'. If there is a concern it's that it has slowed since coming out of the flag formation. The bearish black candlestick marking the July high still dominates. Technicals are mixed. If there is going to be a bearish turn in the markets then the Semiconductor Index could be the one to provide it.
For those following my #sectorbreadth analysis will have seen a 'buy' signal for Utilities (oversold). It's not a strong signal because the S&P is not oversold, but it may play as a nice pullback play.
Little more to say on this - let's see what tomorrow brings.
You've now read my opinion, next read Douglas' and Jani's.
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Dr. Declan Fallon is the Senior Market Technician for ChartDNA.com, and Product Development Manager for FirstDerivatives.com. I also trade on eToro and can be copied for free.